SPOKANE, Wash. — Valentine’s Day approaches this weekend, and while extravagant gestures might seem romantic, financial experts recommend couples prioritize honest conversations about money over surprise spending.
Financial advisors say open discussions about spending can reduce stress during holidays and strengthen relationships.
“You have to address some of those emotions, you have to address what your values are, what your wants and needs are, and where you came from,” said Barin Saxton with Canopy Credit Union in Spokane.
The challenge is widespread. According to Saxton, “67 percent of engaged couples in America find it difficult to talk about money with their partner.”
Experts recommend setting dollar limits for gifts and holidays. This approach removes uncertainty and prevents one partner from overspending while the other remains conservative.
Another strategy involves creating “wants versus needs” lists together. This exercise helps couples understand each other’s priorities.
“A good example of this might be a gym membership,” Saxton explained. “One person might think, well that’s a want we don’t really need that, whereas the other person might say I need this, it’s good for my mental health, it’s good for my physical health.”
For couples working toward shared savings goals, experts suggest tracking spending together for 30 to 60 days.
“Then get back together and compare okay how close were we? Were there any surprises?” Saxton said.
The advice applies to couples at any relationship stage. Financial experts emphasize that money conversations, while challenging, are essential for long-term success.
As Valentine’s Day weekend arrives, couples considering expensive gestures might benefit more from establishing clear financial communication patterns that will serve their relationship throughout the year.
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