While you may not agree with all of your significant other's money priorities, taking the time to discuss the issue may reveal that you share many of the same financial goals. After all, you're a financial love match, right?But how can you best determine your top priorities for saving as a couple? An approach favored by a former U.S. president may help.
Using an urgent/important matrixOne way to identify your top priorities is to use an urgent/important matrix, a method credited to Dwight Eisenhower, the 34th commander in chief of the U.S. For these purposes, the process begins by making a list of all your financial goals. Have your significant other make a list too, but don't compare them yet. Next, make a chart with four squares. The horizontal axis represents the importance of the task, and the vertical axis represents the urgency of the task. Your four squares then become:
Not Important, Not Urgent. Example: The latest tablet.
Not Important, Urgent. Example: Traveling back to your hometown for your 10th high school reunion.
Important, Not Urgent. Example: A gym membership or workout equipment.
Important, Urgent. Example: A new roof, if yours is leaking.
A sample matrix