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The Money Date

I want to introduce an intriguing technique, the “Money Date!”  It is a smart approach for couples to discuss their financial matters openly.  Interestingly, I have been doing coffee, bagels & finances with my wife for years now.  I’ve even suggested that clients go for a massage or on an afternoon date, following a meeting with me in the office.  I didn’t realize I was “temptation bundling” – making less exciting tasks more exciting. 

The concept of a Money Date is simple: turn those typically dreaded financial conversations into events both participants can look forward to.  Since disagreements over money can strain marriages and partnerships, having regular open discussions about financial decisions in a fun and intimate way can help address any troubles before they become a source of resentment. 

A great way to begin this conversation is to jointly review the 3 most recent bank statements and credit card statements.  This can help both partners better understand their spending habits, avoid surprises, and even detect fraudulent activity.  Over time, the dates can evolve to help couples stay on the same financial page and offer productive on-going financial communication in relationships. 

Ultimately, the key to successful money dates is open communication and a willingness to work together towards your financial goals. 

Learn more about the author, Ronsey Chawla, MBA, CFP®.