Since the goal of Dual Income No Kids is to discuss finance within relationships, Today’s posting contains some thoughts on getting started merging your finances. Anyone who is married or in a long term relationship will say you’ll need to begin integrating your finances with your significant other at some point.
David Bach has come good tips* on how to start this process:
1) Get Organized: The best thing to do is sit down and start going over your files. Throw out old ones and set up new ones. Just the act of getting organized can spur your significant other to get motivated as well.
2) Be Diplomatic: Motivating your partner can be tricky. According to David Bach, the thing to do is emphasize the importance of working on your joint goals. Whats also key about this is being diplomatic. In other words, you should avoiding blaming or condemning your partner for current difficulties.
3) Achieve Small Successes: Bach says that achieving small successes are important for getting started. Minor successes like meeting to discuss joint goals or to organize your finances can help build positive momentum. For my part, it gives me a lot of confidence that my wife Miel and I have been able to achieve small success, even when our relationship hasn’t been the most harmonious.
Good luck merging your finances!
*From Smart Couples Finish Rich, by David Bach, pages 68-69.