Dating in your twenties and thirties looks much different than it did 15 years ago. With technology rapidly changing, communication is at an all time high. Yet, millennials still seem to be struggling with financial secrets, spending, and fighting. In this week’s Love & Money we’ve collected a few tips to keep your relationship open and honest!
Let’s Talk About: Tips For Millennials
Dating seems to only be getting more expensive. Which is especially tough given the current economic climate. On top of that, secrets are leading to fights and ruining relationships. But they don’t have to!
1. No More Money Secrets
It’s normal to fight about money. In fact, it’s one of the biggest causes of strains in any relationship. But you can really cut down on the fighting by being open early on. Nearly 40% of millennial couples fight about money on a weekly basis, according to TD’s 2019 Love & Money Survey.
The same survey found that more than a quarter of millennials keep a financial secret from their partner. About a third of respondents said that a money secret would be a deal breaker. So instead of hiding your past, confront it head on.
2. The Sweet Spot
Try not to talk about money too often (or too little). While the TD survey found that 94% of millennials talk about money at least monthly, they also found that millennials fight about money more than any other generation.
The moral of the story? Maybe less is more. Try and discuss finances at key milestones in the relationship, and then only bring it up when necessary after that.
For example, set up a bimonthly budget meeting and use that as an opportunity to raise concerns. Of course, when you are seriously worried about a financial issue, don’t wait to bring it up!
3. Don’t Splurge
If you don’t have the money to go all out on a date night or gift, just be honest. There’s no need to blow it all on one night. Unnecessary spending will only put a strain on your relationship. Plus, if your partner is really the one for you, they will understand.
Instead, you should research free or cheap date ideas (p.s. check out our article on that here). Or you can just spend time together and budget for one big night out a month.
Whatever you end up doing though, pay in cash. It’s really easy to overspend on a debit or credit card, but bringing cash keeps you in line.
