There’s no question about it — having money conversations can be challenging no matter who you are or what your background is. Many people feel personal finance is exactly that — personal. That’s why divulging how much you make, what you spend, and what you have saved can feel a bit uncomfortable and awkward. However, money matters in a relationship, and it’s important to have these conversations.

How does money affect relationships?

According to a recent American Psychological Association survey, 55% of Americans say they agree that money is a major source of conflict in their household.¹ And not only that, money is strongly associated with all kinds of emotions, including: self-worth, security, power, pride, and inferiority.²

So given its importance to your emotional health, here are some suggestions for how to have the money talk with your significant other — whether that’s your spouse or someone you’re starting to get serious with.

How to talk to your spouse (or significant other) about money

When to talk about finances in a relationship

There’s no right or wrong time in a relationship to discuss finances. It’s really up to you to determine when it makes sense. Again, because your financial situation can feel personal and private, it’s probably best to wait until you’ve established a solid level of understanding and trust between you and the other person.

Remember, these conversations are usually not one-and-done. They should be ongoing and take place in a distraction-free-zone, where you can devote enough time and energy to feel comfortable and productive.

Need help getting started?

Download our free discussion guide: Financial conversations for couples