More calm, more free time, and a certain festive atmosphere in the air can make this the perfect time. But for some couples, there’s never a good time to talk about money. Here are some tips on how to do it best and maybe even enjoy the process
The holiday season can be the right time to bring up some difficult topics—between a slice of panettone and New Year’s resolutions for 2023. For most couples, financial matters fall into this category. How can you talk about money with your partner without ruining the holiday spirit? Here are a few tips to help you avoid putting it off until next year.
Women, Money, and Financial Literacy
Constructively managing the topic of money within a relationship: this, too, can be a New Year’s resolution for 2023. Start this year-end with tips from Taxfix (an app designed to make filing taxes online easier).
This advice is especially useful for women, given that even today there remains a significant disparity between their ability to manage financial resources and that of men. A Taxfix study revealed that women perceive themselves as overwhelmed (51%), uncertain (51%), and powerless (40%) when it comes to filing their tax returns. It’s as if the topic of money weren’t meant for them.
There is a strong emotional component stemming from a cultural legacy that views women as less familiar with bureaucratic procedures. Technology, by its very nature inclusive, could become a key factor in breaking down this wall of stereotypes. Yet again this year, among users who filed their tax returns via Taxfix, only 36.5% were women.
How to Talk About Money with Your Partner
1. Be honest: Financial information should be shared transparently within the couple. This doesn’t mean pooling all savings or scrutinizing every bank account, but rather being honest with each other about the financial decisions that are made.
2. Respect equality and inclusivity: In a relationship, both partners should always have an equal say in financial decisions, even if one partner earns more, and both should be actively involved—even if one is more “confident,” meaning they’re more comfortable, when it comes to addressing certain topics.
3. Keep an open mind: The way we manage money is influenced by what we’ve learned over the years. Talking about money can be complicated for a partner who may have a different financial background. So it’s important to be empathetic and consider the other person’s perspective.
4. Take small steps: There’s no need to jump right into discussing major investments; you can start with small, everyday expenses and gradually delve deeper into more complex topics.
5. Learn together: Financial topics can be intimidating because you may not be familiar with the technical terms, and at the same time, if one partner has more knowledge than the other, it can create an imbalance. The ideal approach, therefore, is to work together to build a solid understanding of financial matters.
