Do you have a personality that's tied to bad financial habits?
Personality and spending are closely correlated, according to an article by Investopedia. But by communicating and finding a partner who can balance those negative attributes, individuals can be financially healthy.
The article identifies five personality traits that tend to lead to financial problems: being overwhelmed, distracted, risk-taking, optimistic or overconfident.
Those who are overwhelmed often feel stuck, and they have a hard time seeing the value of financial planning.
Distraction from children or careers can lead individuals to forget to put a full financial plan in place.
Risk taking can be financially valuable in small amounts, but otherwise it can cause investing to become more like gambling.
While a positive outlook is good in most situations, just hoping for things to work out for the best instead of working for that goal can be detrimental.
Last, overconfidence can lead to vague financial plans or drastic decisions.
While Investopedia says these traits are difficult to overcome, there are ways individuals can balance them.
"Finding a knowledgeable advisor or partner who has a very different personality can help add balance to the decision-making process," the article says. "If an individual recognizes that he or she is struggling with a particular type of decision, it may even make sense to hand it off entirely to someone else."
Money talks with future spouses or other financial partners should include history, credit, control and future desires, according to an article by the New York Times.
Partners should look back on both pasts. How did their parents use money? That background can influence their spending habits. Knowing what their credit history holds, who plans on paying the bills each month and where money will go are things that need to be discussed.
Understanding where both partners want to be financially in life and the sacrifices it takes to get there also help partners work for the same goal and encounter less conflict, if that plan is one to which they both agreed.