How to Have the Money Talk: Your Spouse Doesn’t Save


How to Have the Money Talk: Your Spouse Doesn’t Save

How to Have the Money Talk, Your Spouse Doesn't Save

This is the first post in a couples’ series which will help couples break the ice and have the money talk to make sure that you are on the same page when it comes to budgeting, spending and saving. It is important that couples have the money talk whenever there is a life-changing event such as a job loss, decision to be married, or when new financial priorities are set. If you wait until a financial hardship hits before you have the money talk, your priorities may not be clear because you will be reacting to a financial hardship when you could have been proactive and tried to prevent it in the first place. Having the money talk with your spouse sooner rather than later can only help your relationship survive any financial hardships.

What You Can Do if Your Spouse Doesn’t Save

When you spend time with someone, whether it is a friend, a family member or a spouse, you will naturally learn about their spending habits; what you may not naturally learn about is their savings habits. This is because most people choose to talk openly about their spending but not necessarily about their savings. My friends and I openly discuss how much money we save on a monthly basis but that is probably because we all work in personal finance and are surrounded by money every day.

If your spouse doesn’t save and one of your financial priorities as a couple is to save money, then you have to have the money talk with your spouse in order to express the importance of saving for your financial future as a couple. The money talk with your spouse doesn’t have to be uncomfortable; it can actually be very helpful to your relationship. A successful money talk starts with a good approach.

Set Your Financial Goals as a Couple

If your spouse does not save money on a regular basis, the first question that you should ask during the money talk is why. Why is your spouse not saving money each month? Maybe it is because they do not have the financial means to save money each month or maybe your spouse doesn’t save money on a regular basis each month because they prefer to spend it.

If you and your significant other have any financial goals as a couple, such as buying a home, getting married, or taking a yearly vacation, then these goals will all require savings. If you want to help your other half change their financial habits to start saving money, then make them see why saving is beneficial. Saving is always beneficial because it helps achieve your financial goals. If you can’t afford to save a lot of money each month it’s ok because savings don’t happen overnight, they build up over time.

The information in this article is provided for education and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness or fitness for any particular purpose. The information in this article is not intended to be and does not constitute financial or any other advice. The information in this article is general in nature and is not specific to you the user or anyone else.




Kristina is a Financial Services Professional with over 12 years of experience working in the Banking industry. She helps people invest their money wisely and plan for their retirement at DINKS Finance. Kristina enjoys helping people plan their personal budget, pay down their debts, and enjoy their financial lives.