What are Financial Love Languages?

Financial disagreements are one of the leading causes of divorce. Many couples find it difficult to effectively communicate with each other about financial matters because they are actually speaking different financial languages. That’s right! Finance is a language and unfortunately most people are not financially multilingual. The fact is it is extremely difficult to speak or understand someone else’s financial language when you don’t really know your own.

In 2004, Gary Chapman introduced the concept of “Love Languages” to help people improve their relationships through communication. Couples also have the opportunity to improve their relationships through effective financial communication by understanding their mate’s Financial Love Language.

Financial Love languages are identified by behaviors that represent individual financial value systems.  By understanding these behaviors, couples can improve communication and establish a collective financial value system. The four Financial Love Languages are Saving, Giving, Investing and Spending.

The first of the four financial love languages is Saving. Saving is not only an action of financial security, but for some it is an act of fear or control. A Saver primarily saves money to protect themselves and their family from financial hardships and emergencies. However, some Savers save because of a financial trauma or because someone used money to control them, so they save to avoid being in that situation again. Others save to be able to help their loved ones in the future. The best way to communicate with Savers about money matters is to talk about how much money they will save.

The second financial love languages is Giving. Givers have a philanthropist heart. For most, giving is usually an expression of love. However, for others, Giving is an act of insecurity when they give money or gifts to someone in exchange for an emotional connection or “to be liked.” The best way to communicate with Givers is to edify their giving spirit. In most instances, Givers simply like to feel appreciated.

The third financial love language is Investing. The Investor takes relative risks and enjoys watching their money grow. They like to invest in the stock market, retirement, business opportunities, education, or in other people. The best way to communicate with investors is to discuss transactions as “investments” and the return on those investments, which could be financially or even something that will benefit them emotionally, physically or spiritually.

Finally, the fourth financial love language is Spending. Spending deals directly with the “Pleasure Principle.” Whether the spending is for someone else or themselves, Spenders find ultimate pleasure in spending money, usually on “stuff”. True spenders can be rebellious when they feel deprived. The best way to communicate with a spender is to talk about how much they can spend.

Understanding your Financial Love Language will better position yourself in having more effective financial conversations with your mate. If needed, seek help from a Financial Professional to mediate your money matters. Finances, just like Love, can be a beautiful language when both mates respect and appreciate the other’s communication style. 

Connect with Tarra Jackson at www.TarraJackson.com