Relationship Money Management
While some say money is the root of all evil, it is also the root of many disagreements between couples. Fidelity Investments analyzed the finances of more than 1,600 couples who are married or in long-term committed relationships and living with their partner and found that 67% of couples who are concerned about debt say they argue about money and 46% of those same couples agree that money is their biggest relationship challenge. (See the Fidelity study results summary here.)
A solid financial foundation can strengthen your relationship—and that foundation should start with trust and partnership in money matters.
- It’s important to have open and honest communication about issues like financial goals, spending and budgets, savings, debts, investments and retirement.
- Set regular times to discuss your current financial status as a couple. Try to talk in a relaxed setting at a time when you’re not already tired and stressed.
- Vow not to criticize or assign blame if you’ve gotten off track with money.
- Brainstorm all possible actions you might take jointly to strengthen your finances.
- If solutions seem elusive, consult with an impartial financial coach.
Source: Magellan Health
Tap into your Employee Assistance Program for interactive online resources, wellness tips and private counseling. Log in to MagellanHealth.com/member to get started. When prompted, type in BMC’s toll-free EAP number, 1-800-327-1393.
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Disclaimer
Disclaimer:
The content on this site includes links to tools and information that are not the property of BMC Software, and BMC Software is not responsible for their accuracy, completeness or continued availability. Some of the material contained in this site is based on official plan documents. It is not, nor is it intended to be, the legal plan document or a contract between the company and any employee or contractor. Every effort has been made to ensure the accuracy of this material. In the unlikely event that there is a discrepancy between the site and the official plan documents, the official plan documents will control. BMC Software reserves the right to amend or terminate the plan(s) or program(s) at any time. If you believe the benefits do not describe those available to you, contact the Benefits Center at 877-BMC-4849.
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