Decoding the five financial love languages

Does a surprise fancy dinner out make you swoon? Or is putting that extra money away for a rainy day more of a green flag?

While you may have heard of the traditional love languages that explore how we give and receive affection in our personal relationships, did you know these concepts can also apply to our financial partnerships?

Getting in touch with your financial love language can help you better manage your money, align with your partner on important joint financial decisions and ultimately achieve your wealth goals together.

1. Communication: Money talks

Being open, transparent and communicative are important in any relationship, but when it comes to joint finances – honesty is key. People who thrive on communication need to feel like they can openly talk about money with their partner, to understand what their cash is being spent on and feel heard when expressing anxieties, goals or ideas. 

Tips to speak this language: Scheduling in ‘money dates’ can be a good way to keep regular conversation flowing about budgets, spending habits, upcoming costs and goals you are working towards. Maybe it’s over a Sunday coffee, at your favourite pizza place, or just a designated night on the couch alongside a glass of wine!

2. Acts of service: Show your financial support

Sometimes actions speak louder than words. People with this love language feel most loved when their partner takes charge of jobs without being told what to do. Maybe your partner hates dealing with bills, so you offer to take that responsibility, while they work on an investment action plan – sharing the responsibilities shows you are actively involved.

Tips to speak this language: Offer to take on admin tasks or jobs that you know aren’t your partner’s strengths – maybe it’s creating a budget, setting up a joint account, organising the bill payments or automatic transfers, helping them set up a salary sacrifice into their super or comparing insurance quotes.

3. Gifts: Spend thoughtfully 

Money can’t buy you love… or can it? For people with this financial love language, gift-giving can be a source of pride. That said, you don’t need to show your love by emptying your bank account – giving gifts should be less about the spending, and more about the thought behind the present. Maybe you’ve saved up for something you know your partner’s been dreaming about, donated to a charity in their name or engaged your craft skills to make them something truly special.

Tips to speak this language: Use Point 1 (communication, if you’ve been taking notes) to make sure you’re on the same page about gift-giving – this will help avoid overspending, hurt feelings and gifts going straight to the op shop donation bin.

4. Saving: Become budget buddies

While retail therapy can sometimes make us feel good, having a secure and solid financial foundation can make us feel much better in the long run. How best to achieve this? Save! Make use of high-interest savings accounts to grow your wealth quickly; create joint savings goals, like an emergency fund or holiday saver; and set up a budget to see all your income, expenses and what’s leftover to save. 

Tips to speak this language: While spreadsheets are objectively unsexy, what’s more romantic than something that helps us prepare for a long and financially stable future together? Use AMP’s Budget Planner Calculator or create a joint budgeting spreadsheet that combines your income and expenses, track where you can save, and watch your money grow!

5. Investing in time: Moments not just money

The ASX may make your heart beat faster, but it’s not just the stock market you should be investing in. Make sure to invest in quality time with each other, whether that be overseas holidays, date nights and other experiences together, memories worth their weight in gold.

Tips to speak this language: Figure out what means the most to you – travel, eating out, cinema nights, outdoor adventures – and plan these regularly, setting aside money in the budget to make sure they don’t slip off the calendar.