Navigating anything with your partner can be a challenge, especially when investing. It’s important that you bear some things in mind when you decide to take the leap and invest with those closest to you. In this post I will be sharing my top tips on how to navigate investment property decisions with your partner.
This is a contributed post.
GOOD COMMUNICATION
With any kind of relationship or partnership, communication is key even more so when money is involved. Consistent and regular communication between one another during the whole process is needed. Investment property can be a challenge but it can be made even more challenging if you don’t have good communication between one another.
BE TRANSPARENT WITH ONE ANOTHER
If there is something playing on your mind or you’re not sure about a decision you once agreed on, talk about it. When money is involved it can sometimes cause a divide, especially if you’re doing it with a partner. Having those transparent and in-depth conversations can really help to save your relationship and your investment. Some couples find relationship counselling to be beneficial when making big decisions together.
MANAGE THE MONEY TOGETHER
Often when making big decisions together like investing, one or the other person in the couple can take control. This then leaves the other person out of the loop when they have the same right to be involved as it’s their money too. Make sure that both parties know what’s going on and what stage of the investment you’re at. Money transparency is so important when it comes to investing with your partner.
Perhaps invest in a mortgage broker to help you make better financial decisions together.
Have you ever invested money with a partner? How was it? Do you have any tips you could share?
Olivia x
olivialucieblake.com 