Cuddly stuffed animals, roses and balloon hearts – it’s easy to get swept up in the moment on Valentine’s Day. But in the midst of the butterflies, and never-ending devotion, couples should take a moment to address the green elephant in the room – their finances.
In today’s challenging economic environment, Jeanette Marais, CEO of Momentum Investments, says couples looking to build their wealth together need to take calculated steps towards achieving their financial goals. “While money may make the world go round, love keeps it spinning – honesty and transparency about money in a relationship is key,” Jeanette says. “Couples looking to build joint wealth need to ensure they have a financial plan in place to help them on their journey. Joint investing requires decision making from both parties, which can get complicated if it isn’t done correctly”.
Jeanette shares important tips for joint investing, to ensure no love is lost this Valentine’s Day.
Maintaining an open dialogue is key to a healthy money relationship. Some people are conservative and others free spirits when it comes to managing money. Couples may want to invest and save together, or separately – due to their differing risk tolerance goals, and that is fine. Maintaining an open line of communication on the topic of money may be the difference between the fairy tale happily ever after and a short-lived love story. “Talking about money makes many people feel uncomfortable, and couples may be inclined to avoid financial discussions because they fear the disagreements that may arise. By talking openly and honestly about money, couples can establish common grounds despite their differing money styles,” says Jeanette.