What happens when you and your spouse have different money personalities? Are you are a saver and your spouse is a spender? Or you are a gambler, but your spouse is risk-averse? This can create strife in the home. “We just aren’t compatible!” You tell yourself, “Why didn’t we notice that when we were dating?”
When dating it is possible not to have noticed this, to a degree, about your spouse. But this should not put an end to your romance or marital peace. What can be done to manage this seemingly incompatibility?
The first thing to get right is knowledge of the personality type of your spouse. Discuss the five personality types, talk to each other about your personalities and your short-term and long-term goals. Don’t judge each other; simply listen and try to understand where your partner is coming from.
Compromise and yield
Whenever there is a mismatch in your financial personalities, discuss the underlying concerns a financial decision is raising. If you’re risk-averse and concerned about a huge upcoming expense, consider building a strong emergency fund first. If you’re trying to put together a family budget but one of you is a saver and the other is a spender, maybe you could compromise that you’ll save X naira a month but also allocate Y naira a month for guilt-free spending.
Work as a team
Work together as a team; complement and keep each other in check. This will make you stronger in the long run as a couple, but only if you work together. Learn to approach money decisions not as “me vs you,” but as a united front. Eventually you would find that sweet spot where you make the perfect team.
When the above suggestions are applied, with recognition that you are both work-in-progress, money personality differences will be handled in a more mature way. Your peace and goal for financial freedom will not be jeopardised.