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Not many of us have sole decision-making authority over how the money is spent. If you are in a relationship, business or personal, you need to talk.

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What is it?

The Money Talk is not a weapon to be used after the money is spent! It is a general talk to agree that you are going to start managing the money. It is an agreed declaration of what is important to your family or business: needs, wants, goals. All parties that have a say in the money pot have to be in agreement on these big things.

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How?

Book a time to hold the money talk. Hold it outside of the home or business to avoid distractions. Have an agenda and keep to it. It’s incredibly easy to get sidetracked in these conversations! Ask questions of each other, listen, and ensure both sides understand what was heard. Write down your agreed decisions. Not so you can use them as a weapon, but so you can remind yourselves what was agreed to and to maintain the energy to work towards your goals.

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Why?

Knowing agreed money limits/purposes is weirdly very freeing. If you know you have $30 a week to spend on whatever you like, there is no guilt in buying 15 bars of chocolate! Theoretically speaking…

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