How to Live with a Frugal Partner
Many people do not understand the concept of frugality. Being frugal does not mean to stop spending money on essential things and think about saving money only. The most authentic definition of frugality is that a person cares about the quality and cost of the item. It is all about a balancing game and spending money consciously.
When it comes to misconceptions about frugality, a challenge may arise between spouses or partners. For example, the husband is frugal, and the wife is not or vice versa. In this article, we will focus on how to live with a frugal partner. Read on!
Come to the Common Terms
Some people make fun of their spouses, especially when it about spending money. Money permeates every aspect of your life. Many individuals are raised with differently held expectations and viewpoints around it. Money is a common source of discontent for married couples. It is one of the leading causes of trouble and conflict in a relationship.
It is essential to communicate with each other regarding finances. In particular, it is essential to communicate when your partner is more frugal. It is because your husband or wife may have certain desires and expectations, which may not match your wants.
However, this does not mean that your partner won’t spend money on you. Therefore, it is a wise idea to find areas for common ground so that you both get on the same page and agree on common terms to achieve your financial goals.
Collaborate with your partner and set a budget
When you are living with a more frugal partner, compromise is key. For instance, when it comes to creating a budget, compromising with your partner is the best you can do. A frugal partner likely have some specific expectations and desires to align things in a certain way.
Instead of arguing with your partner, you should look for ways that can help you both create a budget. Remember the last point where we said, “come to the common terms,” it is something that will help you and your partner establish a great budget. So this way, you can fulfill the expectations of your partner adequately.
Understand the concept of frugality
As mentioned above, living with a frugal partner requires a proper understanding of frugality. Many people think that frugality means cheap and never spending money. So, they develop a concept of not having fun and leisure in life.
On the other hand, you are frugal means getting the most out of your spending. It is about finding different ways to make multiple streams of income instead of making poor decisions that will lead you to lose money proposition.
If your partner is frugal, it is wise for you to understand the key difference between being frugal and living cheaply. Cheap, in simple words, mean a person does not want to spend money. In contrast, a frugal person wants to make informed decisions with his money. So, follow the tips given above to live with your partner successfully.
|Thomas Moore is a proud American with a Bachelors Degree in Business Administration from the University of San Diego. He has been in the financial industry for many years holding numerous licenses in multiple states. He currently helps operate cashkingco.com and is our resident expert on all things finance and a great writer. Thomas is also an avid outdoor enthusiast that loves fly fishing streams in the Western United States. LinkedIn Profile|