7 KEYS TO EFFECTIVE FINANCIAL COMMUNICATION
It is extremely difficult to manage money in marriage without effective communication between the people involved. Couples that talk faithfully, truthfully, deliberately, deeply and openly are the only couples with effective communication. Money management in their marriage becomes a piece of cake.
KEYS TO EFFECTIVE FINANCIAL COMMUNICATION
To have effective communication, your communication must involve the following:
- If you are not open to each other, your communication can never be effective. Effective financial communication involves full disclosure of income, expenses, commitments, debts, goals, plans and visions. Open up to your spouse; don’t hide anything. That is what marriage is all about.
- When lies take over discussions at home, it is even worse than not talking at all. This is because when the other party finds out the truth, it becomes difficult to trust the dishonest one. Stop telling lies; it will negatively affect your credibility before your spouse even when you are saying the truth.
- Be intentional. Most couples discuss their family finance “accidentally”, when they are pushed to the wall or when it becomes too obvious that they have to talk. The norm is to wait till their finance is on fire, then set up a round table discussion on how to quench the fire. Prevention is better than any cure. Make out time today to prevent financial crises in your family. Delay may only make things worse. No matter how strong a chain is, once it is broken, the length is never the same as the original. Many couples who wait till the dying minute to discuss their finances may not be able to overcome the problem or deal with the damages already incurred. Be intentional about your communication. Set time apart to talk about budgeting, financial planning, spending and savings.
- Financial discussions in marriage must be continuous and consistent. Since money has to be spent every day, discussions must be consistent. You can’t afford not to talk. Don’t give room for suspicion; don’t give room for negative thinking. Talk, talk and talk some more.
- Most people think financial infidelity occurs only when money has been spent without the consent of one’s spouse. No, it starts when one or both partners begin to tell lies; it grows when full disclosure of one’s income, commitment and spending is avoided. It also involves doling out secret gifts to your own extended family members without the consent or knowledge of your mate. To have effective financial communication in marriage, faithfulness is the key. If you are not faithful, you will not be truthful.
- When trust is lacking, communication will not be effective because lack of trust keeps everybody on guard.
- Trust is not a gift, it must be earned. It is not free; it has a price tag called trustworthiness. If you mismanage #10,000, your spouse will not trust you with #20,000. But if you handle #100,000 wisely, he or she will not find it difficult to commit #1,000,000 into your hands.
