Episode 101 

The 3 Steps to Have a Successful Money Date! 

Money conversations with you and your partner do not have to be unpleasant. Having a money date will help you both be on the same page and help get you closer to achieving your goals.  

What Is a Money Date? 

A money date is exactly what it sounds like. It’s an opportunity for you and your partner to get together and talk intimately about your finances.  The focus of the date is to get on the same page financially by talking about specific financial situations that have happened and will be happening. It may sound fun to go out and have a meal while having this conversation but remember you may find yourselves talking about private situations. I usually suggest having these conversations at home because you may not want to discuss your situation in public, and you might need financial documents at hand to continue the conversation.  Here are the 3 steps to having a successful money date. 

Step 1. Talking About What Has Happened  

You and your partner may not necessarily think about money the same way. This might be because of differences in income levels, pay periods, etc. Each situation is unique. Nonetheless it’s important to work together for a mutual benefit, which you won’t be able to do unless you discuss matters that have already occurred. Here are some questions you can ask yourself to get started: 

  • What does my 401k situation look like? 
  • Have I gotten a raise/bonus? 
  • Have my spending habits changed?  
  • Did I receive any surprise bills?  

Remember your situation is unique and by being as transparent as possible you’ll be able to understand each other better.  

Step 2. Talking About What Will Happen  

This next step allows you to work together to make joint decisions in the present, as opposed to reacting later in the future. If you know something is coming, it’s worth taking the time to plan ahead with your partner. Again, your situation is unique so begin by asking yourself questions you think are relevant.   

Step 3. Celebrate Small Wins 

You don’t have to wait until you get to the end of a goal to celebrate it and feel good about it. Take the time to acknowledge and congratulate each other. This will help you keep track of how far you’ve come together and therefore help you form a stronger relationship with your partner.  

If you’re planning on having a money date, I would love to hear about how it goes. I would recommend having money dates once a month. As always, if you need help further understanding your financial situation, feel free to reach out!  

Notes: 

In this episode, Luis talks about the following and more: 

  • What is a Money Date? 
  • Why are Money Dates Important? 
  • How Often Should You Have a Money Date? 
  • The 3 Steps to Have a Successful Money Date 

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