Love and finances: Building a stronger bond with shared goals

Discussing income, savings, debt, spending habits and financial fears is crucial for partners for setting realistic goals. ISTOCK PHOTO PROVIDED BY RCBC

Discussing income, savings, debt, spending habits and financial fears is crucial for partners for setting realistic goals. ISTOCK PHOTO PROVIDED BY RCBC

IT is hard to talk about money; and it is even harder for partners to talk about money issues.

Filipinos consider financial realities as a main factor in building relationships.

A 2023 study by the Commission on Population and Development said that Filipino couples often prioritize financial stability before considering marriage.

In any successful relationship, trust and communication are essential – specifically, making sure that partners can freely talk about their finances.

Whether married, in a long-term relationship, or just starting out, it is never too early to talk about financial goals – whatever stage in life and relationship is one at – with ease.

1. Map out a shared vision. When talking about shared life goals, focus on the what and the why behind the vision of life together. Whether it is home ownership, early retirement or starting a family, understanding each other's dreams is the first step.

2. Set "smart" financial goals. Break dreams into specific, measurable, achievable, relevant and time-bound. Instead of saying, "We want to save money," set a target: "We'll save XXXX for a home down payment in two years."

3. Align finances together. Settled on shared goals? Now, work on how these can be achieved together. Perhaps consider creating a joint budget for paying off shared bills or for shared targets such as a vacation or buying property.

4. Partner with a trusted bank. Having a trusted banking partner like RCBC equips one with the right financial tools and expert guidance to stay on track. Take it a step further with RCBC's Hexagon Club Privilege, the bank's premier membership that unlocks an exclusive suite of benefits designed to elevate banking experience at every stage of life.

Joining RCBC's Hexagon Club means more than just accessing premium services. It is about financial empowerment.

With exclusive banking solutions and privileges that adapt to one's evolving needs, gain access to preferential rates for auto and housing loans, first crack at investment options, and personalized solutions.

Love and money may seem like an unlikely duo. But when handled wisely, they form a powerful foundation for a lasting harmonious relationship.

Visit an RCBC branch today and find out how to transform those shared dreams into reality.