Why couples clash over money

FAMILY FINANCES: PERSONALITY BATTLES AREN'T ABOUT NUMBERS - THEY'RE ABOUT TRUST

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If there is one thing that many couples fight about, it is money. Sticking to a budget often solves the problem, but what do you do if you are the only one sticking to the shopping list and your partner adds all the expensive things you cannot afford if you want to save enough for your first home.

Lee Hancox, head of channel and segment marketing at Sanlam, says couples often have very different shopping “personalities”.

One partner arrives with a precise list and sticks to it, while the other leaves with the latest cereal flavour, chocolate slab or magazine and forgets the milk.

Family budgeting often works the same way: one partner wants to track every cent, while the other believes balance will come naturally. However, Hancox says, neither approach is right or wrong.

“The key is learning how to combine your money personalities so your budgeting runs smoothly, it feels fair and you are working together toward shared goals. At the end of the day, it is about building a partnership.”

Hancox points out that we all have blind spots.

“My Sanlam Money Personality is the Prepared Protector. I am family-focused, responsible and security-minded, but I know that sometimes I can miss out on the upside because I am too cautious,” she says.

“On the other hand, a Spontaneous Buyer may bring joy and balance by nudging the family to spend on things that create memories. It is about how you work together, not about who is right.”

Why do couples see money differently? Hancox says money is never just about numbers.