Rate Supermarket has reported that a relationship can cost $43,842.08. They came up with the figure by looking at the cost of dating, engagement and a wedding over a two year period starting from the first date and ending in marriage. Obviously, this exact figure will not apply to everyone, but it is worth bearing in mind, that being in a relationship is a costly matter.
Money can have a really big effect on a relationship. It is important to discuss money matters with your partner to ensure that you agree on financial matters. This can be the difference between a successful and unsuccessful relationship.
- Relationships And Money:
Unfortunately many relationships break down because of money problems. There are a lot of divorces which happen because of problems with finances. This could be that one partner is not being honest about their debts or spending, it could be that the stress of not having enough money leads to problems. Money is something which is getting increasingly important and with recent world economic problems, it means that many more people are having money worries.
It is therefore really important that partners discuss money. They need to be honest about any problems that they have and help each other out if necessary. It can put strain on the relationship if partners are not honest about money. It is always difficult if there is not enough money but unless they couple speak about it and work out what to do together, things will not work.
- Common Financial Goals:
It is important for a couple to talk about their financial goals. They need to make sure that they are making the same plans for the future with regards to finances. It may be that one partner wants to buy a house, build up a retirement fund, pay off debts or whatever. It is important that both of them talk about where they see things going and make sure that they agree.
If the goals are not the same, then they need to discuss matters until they are the same, otherwise it can be very difficult to manage. This is why it is important to discuss financial matters early on in a relationship. Then you will know how well matched you are with regards to your financial plans for the future. This may seem trivial at an early stage in a relationship, but it can get really important as things progress.
So as well as relationships being expensive they can also be dominated by money. Although you may feel that love is worth the cost, money can have a huge effect on the relationship and so it is really important to make sure that you have the same ideas about money, before committing to a long term relationship. Being open and honest about everything, including money is also very important if you want to build trust in the relationship as well as making sure that it lasts a long time.
Keith is a finance advisor and writes awesome articles on how to spend money wisely. His recent article http://business.financialpost.com/2013/02/06/the-cost-of-love-43842/ is a must read for couples wanting to spend money on their weddings and engagements.