Financial Date Night

5 tips for talking about money with your partner

If you and your partner argue about money, you're not alone. Financial concerns are a common source of conflict for many couples. One way to reduce that stress is to talk openly and honestly about money matters with your loved one. Here are five tips to help you get started.




Set aside one day per month to have a calm, relaxed discussion about money. It could take place over dinner, during a Sunday afternoon when the kids are out playing, or any time when you can talk over your expenses and discuss priorities without distraction..



How you and your partner each feel about money is a product of your respective upbringings and life experiences. To keep your relationship on sound footing, try the National Endowment for Financial Education's Life Values Quiz. It can help you better understand the attitudes that drive your financial decisions.



Consider making separate "wish lists" and then discuss and rank the items you both feel are most important to work toward together. One goal that should be on every couple's list: saving for retirement. Building financial security for the future is more easily achieved if both partners make it a shared priority.



Once you've agreed on your financial goals, it may help to set some general spending rules or limits. For example, some couples agree on a total amount (like $100 or $200) that can be spent without needing to consult with each other. Others stick to a budget, which includes tracking all spending on a weekly or monthly basis.



Continue to check in on a regular basis about your finances. Even though it may feel uncomfortable at times, sharing your progress and concerns will help ensure you both stay on the same page about saving and spending; it will also help you build trust in the long run.

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Mutual of America's group and individual retirement products are variable annuity contracts and are suitable for long-term investing, particularly for retirement savings. The value of a variable annuity contract will fluctuate depending on the performance of the Separate Account investment funds you choose. Upon redemption, you could receive more or less than the principal amount invested. A variable annuity contract provides no additional tax-deferred treatment of benefits beyond the treatment provided to any qualified retirement plan or IRA by applicable tax law. You should carefully consider a variable annuity contract's other features before making a decision.

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