My fiancé and I recently had a discussion that revolved around the question “Where do you see yourself in x years?” While many of the things we brought up aligned, there were a few topics with conflicting responses. I began to think about these differences and the best way to approach them so that we are both happy with our relationship and so that money does not become a hindrance to our life together. The reality of it is, in every relationship, not all of the goals are going to line up perfectly and by laying them all out in front of you it will become easier to decide what is truly important to you and things you don’t mind compromising on.
While every couple’s list is going to look different, the overall premise is the same: To be able to complete everything on your list. With a budget already in place you can begin to see if you have the excess funds to start saving towards your goals. Your budget will allow you to see which goals are attainable as well as letting you know what changes you will have to make to enable your financial goals to be achieved. Your list will be made up of many different goals such as purchasing your dream home, traveling the world, or retiring by the time you turn 50. Spending too much on one goal may prohibit you from achieving another so it is important to prioritize them in a way that pleases you both.
Now that your life is becoming a party of two, it is important to remember that every decision you make will affect your partner. By working together, living within your budget, and maintaining flexibility you will see that many of your goals are very realizable.
If this discussion seems too daunting, it may help to seek out the advice of a financial planner. By having someone there to guide you through your decisions it will allow you to focus on creating a financial plan that works for you both. Contact us today to create a customized financial plan to help you reach your goals.
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