Psychologists Offer Tips to Avoid Financial Woes
Tuesday, January 29, 2019
Posted by: Karen Hardin
Money is stressful. When it comes to relationships, differing beliefs about money can be a recipe for conflict. Having an open dialogue about finances can help you talk about money in helpful, healthy ways. Psychologists offer tips to avoid financial fights and set the stage for healthy discussions.
With practice, people can learn to talk about finances in a healthier, more satisfying way:
Avoid using the word “budget.” Some people have negative associations with this word which may set up a feeling of deprivation. Instead, think in terms of developing a spending plan. Help set shared priorities by deciding together what goals you want to save for and what goods and services you want to purchase.
Talk about your money history. Whether people have been in a relationship 10 weeks or 10 years, talking about your money history is the first step to getting on the same page about finances. Understanding your partner’s beliefs can help avoid conflict and set the stage for healthy discussions about joint finances. Some things to discuss include:
- What did your parents teach you about money?
- What are your financial goals?
- What are your fears about money?
Be a team. When it comes to money, partners may not always see eye to eye. If financial conversations become heated, take a time out and revisit them later. With good communication and an understanding of each other’s beliefs and values, people can work together to realize shared financial goals.
To learn more about mind/body health, visit the American Psychological Association at www.apa.org/helpcenter and follow @APAHelpCenter. To find out more about the Ohio Psychological Association visit ohpsych.org follow @ohpsychassn.
The Ohio Psychological Association, in Columbus, Ohio, is membership organization of approximately 1,500 Ohio psychologists. Its mission is to advance psychology as a science, as a profession and as a means of promoting human welfare. For more information or for a psychologist referral, visit www.ohpsych.org.
The American Psychological Association, in Washington, D.C., is the largest scientific and professional organization representing psychology in the United States. APA's membership includes more than 115,700 researchers, educators, clinicians, consultants and students. Through its divisions in 54 subfields of psychology and affiliations with 60 state, territorial and Canadian provincial associations, APA works to advance the creation, communication and application of psychological knowledge to benefit society and improve people's lives.