Love and Money: How to Get on the Same Financial Page | Guiding You Forward

In this episode of the Guiding You Forward video podcast, we talk with Robert Steed, financial education manager at Mountain America Credit Union to discuss the following topics:
 

• Why financial transparency is important

• How to recognize your commitment behaviors

• Which tax filing status is better for you

When it comes to having a healthy relationship with money, we have a few practical tips that can help you and your significant other communicate more efficiently.

There’s no one right answer to good communication. It’s a matter of asking questions, trying different styles, switching up roles every now and then and finding out what works best for your individual dynamic.

One tip that’s recommended across the board is transparency. Be open about all things financial with your spouse or partner—including spending habits, debt, income and saving for retirement. The more you share information, the more balanced your financial relationship can be.

As you travel along your path together, you’ll learn to pay attention to each other’s commitment behaviors. If both parties aren’t committed to the same goals—or the path to get there—it’s much easier for the relationship to break down. In our video, Robert explains what these behaviors are and how to recognize them.

And, what about taxes? It’s important to consider all your options as far as your filing status—are you going to file separately or jointly? Do the math to figure out what’s most beneficial.

Watch this segment with Robert in the video above.