Recently, my wife and myself reviewed our financial health and done some financial planning. We reviewed our household incomes, savings, monthly expenses, insurances and our child’s endowment plan.
I always enjoy these money talks with my spouse because during these sessions, we would set realistic goals and aligned our monetary values. This process also forced us to think through areas we did not do well and motivated us to improve further.
Who said money is not important in a relationship?
Many couples tend to underestimate the role of money in a relationship. Some even claimed that a relationship based solely on love is sustainable and that money should never stand in the way of two people who love each other deeply.
In Singapore’s context, I would say this sort of thinking can land a couple in deep trouble, at least financially. The high cost of living in Singaporea means that any relationship without a good financial foundation would likely end in disaster. Personally, I have seen many couples broke up because of money issues.
Many times, the couples were clueless about each other financial health and habits. They fail to realize the powerful impact on a relationship that can be brought about by financial struggles.