You know how hard it is to talk about money. That’s why I want you to blame Your Survival Guy when you bring up the subject with your spouse.
That’s why I’m here, to help you both beat inertia and take care of your financial well-being.
One easy way to do this is to start by saying, this Survival Guy feels that simply discussing money will help get us to the retirement we deserve. Use me as the ice breaker: “He says…”
Grant Donnelly, assistant professor of marketing at Ohio State University in Columbus, Ohio, can back me up with research.
He’s quoted in the Wall Street Journal, telling readers:
Let’s Not Talk About Money
With the pandemic forcing millions of people world-wide into financial distress, a natural response may be to avoid conversations about money at all costs. However, our research suggests that discussing money with your partner in hard times can help your relationship and finances if you approach these discussions the right way.
First, set aside a regularly scheduled time to discuss financial matters. Planned conversations are more effective because both partners can prepare and anticipate the coming discussion, leading to exchanges that are calmer and more constructive. Further, planned conversations help couples see their financial challenges as a shared problem (e.g., “Our income decreased by 50% last month”) rather than an individual problem (e.g., “You lost your job last month”), and this shared perspective results in greater collaboration, and, ultimately, better financial recovery and less relationship conflict.
Action Line: Talk to your spouse about retirement today. It’s even more important in times like these.
Originally posted on Your Survival Guy.