No matter how star-crossed you are about your partner, ‘love don’t pay the bills’, right? Well, that’s according to at least two songs and one bestselling book! Money may not be the most romantic topic to talk about, but it’s definitely one that needs to be discussed with your partner to successfully plan your financial future together.

Money matters are one of the leading causes of relationship stress, which is why according to personal finance expert Snigda Kumar, joint financial planning is one of the most important things you can do as a couple.

Follow these tips on how to tackle this awkward conversation about the past and the future of your finances.

Make a money-date

Springing such a heavy topic on your partner as he walks through the door after work or sitting in traffic is likely to lead to an unproductive conversation. Schedule ‘the talk’ for a date that suits both of you. That way you’ll have time to prepare and make a list of what you want to say. Keep your communication positive and avoid the blame-game at all costs – you are in this together. You can even make it cute and call it a ‘money date’.

Don’t fib about your finances

In a partnership, it’s critical to be aware of the other person’s financial views. Have an open conversation about both of your spending habits: Are you good at saving? Does your partner live paycheck-to-paycheck? And although your day-to-today money management may differ, you should be on the same page about bigger financial goals. Be honest and be careful not to judge and shame each other in the process. Openly tackle topics like your current balances, debts and your future goals. These will become easier as you talk about it more frequently.

Learn about finances together

It is very overwhelming to talk about finances if you are not money-savvy. If you are more money-literate than your partner, be patient and guide him so that you can grow together. Use the resources at your bank, investment firms and consult with financial planners. Learning about money can only empower you to make wiser financial decisions that will benefit both of you in the long run.

Set up a plan of action

Now that you’ve got all the nitty gritty out of the way, talk about the road ahead. Set up a plan of how to manage your finances further. Are you planning to merge your finances? Who will contribute to what in the household? You may pay for medical aid, but your partner covers the rent. Make sure you are level-headed when having these conversations and reach a compromise that works for both of you. Makes notes of the things that you discuss and the conclusions that you reach so that you can refer back to them should a difference of opinion arise.

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