By Smart Money and Travel
When it comes to love, many of us are focused on finding a partner with compatibility in physical attraction, values, religion, and interests. We end up ignoring one crucial area: FINANCES. It makes sense because it’s not romantic to discuss incomes, savings goals, and debt. However, without financial transparency and compatibility, a relationship’s success level is low. After all, money is the second leading cause of divorce.
Our Western society doesn’t like discussing money but it impacts all of the choices that we make. If you’re too financially different than your partner, then it might be difficult to maintain a fulfilled relationship.
Tran and I dated for almost a decade before we tied the knot in 2017. He worked as an investment banker right out of college while I pursued a career in Medicine. With an income discrepancy, he paid for most of our outings. Therefore, we had a discussion about finances very early into the relationship. We’ve always been honest of our respective money situations. Upon revealing our debts, spending habits, and savings goals, we realize that our financial habits and goals are compatible with one another.
Here are a few areas where a couple can experience friction if they’re not on the same page…Read More