“Having a weekly 30-minute money date is a great way to connect to your goals as a couple, and to get to know your partner’s relationship with money,” she said. “Practice and consistency will keep the strong emotions out of the conversation.”
Set a spending threshold
“Create an amount of money that you both agree on, at which you have to check and mutually agree before spending,” Masini said. “In other words, whether it’s $300 or $3,000, decide that you both won’t purchase anything over that amount without a discussion and mutual approval.”
That worked for Murray and his wife. “We agreed to discuss all purchases over $200,” he said. “That gives impulsive me a lot of leeway, as long as I stay within my ‘fun money’ budget. Household expenses, such as appliances, are things we talk about together.”
If one partner consistently goes over the threshold, you may need to investigate other spending checks, such as a prepaid credit card with a hard limit for that person, or more frequent money meetings.
“Even when money meetings are monthly, it’s easy for a spender to lose the couple-consciousness the threshold intends to establish,” Masini said.