It’s Valentine’s Day, a time to celebrate the relationships that we hold dear. However, while enjoying the chocolates and flowers, other relationships in your life often go uncelebrated, such as your relationship with money.
According to recent research, money is the leading cause of stress in relationships for couples in the USA. Therefore, one of the best ways to strengthen your relationship with that special someone is to take care of your personal finances.
Your money mindset is a combination of your past experiences, thoughts, feelings, and beliefs about money. If you have a healthy money mindset, making choices about when to spend, invest or save money can become a lot easier. Read our blog on money mindset to find out how you can shift your beliefs about money to achieve your goals.
Life gets really busy, and it’s easy to lose track of exactly how much debt you have and your current monthly expenses. You might also not have a handle how your investments are performing or how your retirement savings are progressing. When you understand precisely where you stand financially, it’s far easier to make decisions that serve your goals in the long run.
Set ambitious but achievable goals for the short, medium, and long term. If you have a short-term goal of reducing a few monthly expenses, a mid-term goal of using your savings to pay off credit card debt, and a long-term goal of improving your credit score to buy a home, your short-term goals will lead you straight to your long-term dream.
Once you have your goals written down, develop a step-by-step plan to implement your goals. Implementing a financial plan is best when you set yourself small, easy to achieve tasks. Set yourself deadlines and hold yourself accountable.
Your relationship with your finances can directly affect your relationship with your partner or spouse. The best Valentine’s Day gift you can give your loved one is getting a good handle on your finances so that you are in the best possible position to share a life of prosperity with them.
Happy Valentines Day!