Tip of the week: How to talk with a spouse about money

Schedule meetings. “Set aside a specific time to talk,” ideally once a month. Establish a “no shame, no blame” rule so you can both talk freely without fear of reprisal. Also, write down any decisions you make.

Hit the big topics. Often, “even the most engaged couples” haven’t had a first discussion about every one of life’s big money-related questions. Be sure to compare expectations about each of the following: housing, vacations, savings, retirement, and children’s education. How much to lay out for that last item is one of the most common causes of couples’ disagreements.

Set a spending threshold. To avoid surprising each other with a big expenditure, set a precise ceiling on what each partner can spend without consulting the other.“ It may be as little as $50 or as much as $500”—that’s up to you and your budget.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

Sign up for The Week's Free Newsletters

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Sign up

Source: The New York Times