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What happens when you and your partner have different money personalities?

It is that time of year again. Flowers, greeting cards, candy hearts, and dinner reservations to that place with the months-long waitlist are just some ways Americans celebrate Valentine’s Day. What do all these items have in common? Money! But Valentine expenses can issue if couples have different money dispositions. Check out these helpful tips designed for couples with different money dispositions, and learn how to overcome related challenges.

While financial talk may not be the most intimate thing you do in February, being on an identical financial page with your partner is essential when it comes to planning, saving up, and shared decision-making for the things you both care about the most. Different money dispositions should not hinder you to meet in the middle and achieve financial goals together.

In a great cosmos, you being a “Pleasure Seeker” and your partner being an “Empire Builder” would not cause financial friction. But as many studies reveal, money misalignment tops the typical couple’s struggles. Thus, how can you preserve the love sprightly on Heart’s Day and the other 364 days of the year? Below are a few suggestions. 

Suggestion #1. Identify Your Money Personalities. If you seek financial harmony, figure out which models resonate most with you. Where do you dip in terms of categorizing vacation spending? As the example mentioned above, a “Pleasure Seeker” is willing to endow in this category because of the enjoyment it brings. In comparison, an “Empire Builder” might feel reluctant to invest or spend beyond what is vital since much of their energy is directed on their career or business pursuit. Taking inventory of your respective money personalities and values is the first step towards shared financial footing. 

Suggestion #2. Create Common Goals. Set aside some time to consider what shared financial goalposts you can start working towards if you have not already begun—these can be short-term goals, long-term goals, or both. When deciding what you want to attain, keep your partner’s money personality (including your own) in mind. Maybe buying a new house is a goal for 2023. If your partner is an “Innocent,” they could talk about the overall value and benefits of a new place but expect you to take the helm when it comes to getting into the nitty-gritty of the style or cost comparisons. If you are a “Star,” you might want to pursue the top luxury electric cars on the market, but you will need to weigh having a status vehicle with the budget allowances your partner brings to the conversation. Be flexible in creating goals, so neither has to cast aside your money values. In other words, if you do not want to do something, you will not. 

Suggestion #3. Organize Your Accounts. Organizing your accounts will need some bandwidth on the front end but will save you time in the long run. This is because you would have to devote less energy to figuring out where money is coming in and going out. Pro tip: Before organizing accounts, decide who might be better suited for starting the process. A “Guardian” might slow or stall the course if they have analysis incapacity when selecting the perfect budget app for couples. An “Idealist” might be ready to jump in and discuss whether charitable donations should be a shared or an individual cost. 

Get Connected

Whether you want guidance in paying debt, creating a household budget, or improving your credit score, our caring and qualified bankruptcy specialists are ready to join the conversation. Connect with The Law Offices of Ronald E. Stadtmueller, an expert debt help in San Diego, and let us help bring your shared aims to fruition. 

Sometimes situations beyond your control can profoundly impact your earning potential and lead to overwhelming debt. Do not continue to live under a cloud of unmanageable debt. Chapter 7 bankruptcy can quickly discharge your qualifying debt and give you a fresh start. Call us today or contact us online to schedule your bankruptcy consultation at our offices at Rancho Bernardo, Mission Valley, San Marcos, or La Jolla. 

If you cannot pay your bills, consider filing for bankruptcy. Designed to give debtors a fresh start, Chapter 7 bankruptcy gives you and your spouse relief from debts through liquidating your assets.

With more than thirty years of experience, we at the Law Offices of Ronald E. Stadtmueller can help you file for Chapter 7 quickly and efficiently. Once you have filed for bankruptcy, creditors must immediately stop collection efforts, including harassing letters and phone calls. Contact us today for a FREE one-hour consultation.

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