I wanted to share with you a quick recap of the key insights from the session held on October 13th.

From the Flourish Financially Webinar on Love, Money & Balance: How to Navigate Finances in Your Relationship.

Together with Dr. Sophie Jablonski, we tackled three common dynamics that often arise in relationships related to money:

• Scarcity mindset and disputes over how to spend money

• Tensions stemming from one partner earning more

• Issues of trust and value of financial transparency

We also discussed strategies for strengthening the financial part of your relationship, such as finding common values around money, and having regular money dates to work together on your goals.

It was a pleasure to see so many people joining the discussion! If you missed it, you can still catch the replay. There is also a wonderful gift for you - a free guide on Money Dates & Financial Harmony (details below).

Click here to watch the replay

Recap: 3 common dynamics around money and what to do

Scarcity Mindset – Anxiety Over Money

A scarcity mindset is the feeling of fear that there’s never enough. In relationships, it often manifests as one partner worrying and trying to control spending, while the other feels mistrusted and blamed, leading to conflict. What helps is moving to an abundance-based mindset and aligning values on spending priorities. For example, some may prioritize education over holidays. It’s also important to respect each other’s needs—consider a guilt-free spending budget for each partner, no questions asked.

When One Partner Earns More

When one partner earns more, resentment can arise on both sides. The higher earner may feel overburdened and start making more decisions, while the other might feel left out or disempowered. The key is to find a balance where both partners feel valued and can contribute meaningfully, regardless of income levels.

Financial Transparency – Key to Success

Many couples avoid discussing the full details of their finances, sometimes due to past advice or bad experiences. Trust is essential before sharing all financial details, but once established, financial transparency can help couples build a common understanding and a joint vision for their future, working as a team.

Requested Topic: Fairness in Relationships

In the discussion, participants asked how to split expenses fairly when one partner earns more. While one participant expressed regret over insisting on a 50/50 split when she was earning less, another one mentioned having used a legal contract with their partner to ensure fairness in the case of a career move abroad.

These questions require more awareness and best practices, and we have noted it down as potential topic for a future Flourish Financially Money Conversation.

Gift to You: Money Dates Guide for Financial Harmony

The common themes that financially strong couples rely on are trust, transparency, and communication. A great way to build a shared financial vision with your partner is through regular Money Dates. For me, this practice has been crucial in ensuring alignment and happiness in my financial relationships.

This free guide offers advice on how to have successful Money Dates with your spouse, including tools like:

• A list of potential topics to discuss

• Steps to follow for a productive money date

• Tips for keeping the discussion harmonious

Download the guide by clicking here and let me know how your Money Date goes!

Best regards,
Minna

This post is inspired by the Flourish Financially Money Conversation series, hosted by Minna Schmidt and Dr. Sophie Jablonski on 13th October, 2024. The Flourish Financially initiative is designed to provide accomplished women with a supportive, empowering space to build financial confidence and adopt a growth mindset, helping them navigate mid-life transitions with clarity and strength.