We are all speaking different financial languages, which oftentimes lead to financial disagreements and miscommunication especially with our partner and loved ones. Finance is a language yet to be spoken and unfortunately, most people are not multilingual. Most of the time, we find it very difficult to speak or understand other people’s financial language because we do not even really know our own.
According to patch.com, financial love languages are identified by behaviors that represent an individual’s financial value systems. By understanding these behaviors people, especially couples, can improve communication and establish a collective financial value system.
By knowing yourself better and understanding your financial love language, it would be a lot easier for you to manage your money and understand how other people handle their finances too. One of the best ways to identify the strengths and weaknesses of your relationship with your finances is by knowing and understanding your financial love language.
You might be more familiar with the five love languages, which says that people fall into five categories when it comes to the way they prefer to express and receive love. Relationship guru Gary Chapman introduced the idea of five love languages, which include Acts of Service – any action that caters to your partner’s needs in a helpful way, Quality Time – dedicated time spent together doing something without distractions, Physical Touch – physical closeness that reinforces your affection, Words of Affirmation – verbal or written compliments that convey love and affection, and Receiving gifts – tangible proof of kindness, generosity, and thoughtfulness.
According to Bride and Breakfast , the idea is that people express and receive love in certain ways, and knowing your and your partner’s love language will make it easier for you to understand each other, and express your love better.
Knowing and understanding love language is beneficial not only in strengthening your relationship but also in terms of handling you’re the others aspects of your life, including your finances. Try to shape your financial plan to fit your natural tendencies according to your love language. For example, if your love language is words of affirmation, you can use the power of communication to improve your spending habits.
Here’s what you need to know about the five love languages and how you can improve your money habit for each.
1. Quality Time
People whose love language is quality time enjoy uninterrupted, personal, one-on-one time with their partner. According to financialgym.com, a subcategory of this love language is “quality experiences”. Quality experiences are activities that you share together that may be new, like taking a trip together abroad or taking a cooking class together.
Spend quality time with your partner in the condo by watching Netflix together, having breakfast in bed, or simply switching off. You may want to enjoy some private time so try turning off all those devices in the condo and just focus on your bonding with your partner. Or you can be out of your condo for a little while and stay in a private environment where you can enjoy nature or a totally different place together and spend time there, uninterrupted.
Tip: Aside your regular dates, try to schedule money dates where you can have a dedicated time to keep your money goals aligned. This habit can give you and your partner an opportunity to share your plans, ideas, suggestions, and progress in growing your money.
Read: 10 Stay-at-home date ideas for the “wais” couple
2. Physical touch
Physical touch entails physical gestures of affection like hug, kiss, making love or simply holding hands. This love language may also be reflected when you greet your partner with a hug when they first enter the room or when you casually brush their shoulder when moving past them.
You can express physical touch by giving your partner a good massage in your condo bed after their long day’s work or by hugging them while you enjoy watching Netflix together.
When it comes to money, working together on the tangible aspect of money may help you feel connected to your funds and your joint budget.
Tip: Instead of using credit or debit cards in your purchases, which can make your finances feel intangible and might cause you to lose your physical connection with your money, try working with your partner on using cash for your daily expenses in the condo to keep you financially grounded.
Read: Being a physical touch love language person in the time of COVID
3. Acts of service
Individuals whose love language is acts of service, express love by doing something that their partner will appreciate. For example, if your partner loves home-cooked dishes, you might want express your love for them by preparing their favorite dishes in the condo rather than just ordering from your favorite restaurant.
If your partner also appreciates a clean and comfortable condo space, try to make your condo unit clean and organized every day. This will surely make your partner feel good everyday especially when coming home from a busy and stressful day.
Tip: If you know that budgeting is not your partner’s strength, try to help them improve their personal budget by exploring different budget apps or you can also work with you partner on an Excel spreadsheet for your expenses and savings. If your partner enjoys attending virtual conferences and seminars, you can also check various webinars on personal finance management which you and your partner can watch together in the condo.
Read: Love language: 5 Ways to express your love
4. Gifts
Receiving gifts as a love language is not being materialistic at all. It is not really the material item that is important to people whose love language is gifts. It is actually the thought that counts. If you love chocolate, for example, receiving a chocolate that your partner bought for you while at the gas station may make you swoon more than an expensive gift.
You might also feel loved and special when you get surprised by your partner in your condo. How would you feel if your partner surprises you on your birthday with a full birthday setup in the condo? Think of your condo full of balloons, your bed with rose petals, and a huge gift on your table? If the idea excites you, gifts is your love language!
Tip: Upon reaching your financial goal, treat yourself for a job well done! A reward for accomplishing your goal keeps you motivated to see your goal through the end. This will also work for you and your partner. Try to come up with a reward that both of you will enjoy after reaching a joint goal.
5. Words of affirmation
Words of affirmation include hearing supportive and positive remarks from your partner. If positive reinforcement makes you feel loved and supported, you will surely appreciate their sincere praise.
Tip: Although you can practice words of affirmation on your own like posting inspirational money mantras, you can also seek words of affirmation through a financial coach or books.
Read: Pinoy Podcasts: From ASMR-friendly to creep-tastic, a list of local shows for your ears
Now that you understand the different love languages, it would also be easier for you to understand what financial love languages are. Are you curious to know what your financial love language is? Here’s a list.
1. Saving
Saving is not only an action of financial security, but for some people, it is an act of fear or control. A Saver is saving money to protect themselves and their family from financial hardships and emergencies. However, in some instances, 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. Meanwhile, others save to be able to help secure the future of their loved ones.
The best way to communicate with Savers about money matters is to talk about how much money they will save.
Read: 6 Simple ways to start a saving habit as a young professional
2. Giving
The second financial love language is Giving. Givers have a heart to always help, to them, giving is their way to express their love to the people who matter to them most.
The best way to communicate with Givers is to appreciate their giving spirit.
Read: 10 Pinoy-made gifts that give back
3. Investing
The third financial love language is investing. An investor is not afraid to take risks and enjoys watching their money grow. They like to invest in the stock market, real estate like condominiums and land properties, 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.
Read: Why invest in real estate now, and not later?
4. Spending
Who would have thought that spending is also a financial love language? Spending deals directly with the "Pleasure Principle." Whether the spending is for someone else or themselves, spenders find pleasure in spending money.
Since spenders oftentimes cannot control their want to spend and sometimes be rebellious when they feel deprived, the best way to communicate with them is to talk about how much they can spend.
Read: 10 Best Investments for Magastos Millennials
Understanding your Financial Love Language will better position yourself in having more effective financial management and fruitful conversations with your partner. Finances, just like love, can be a beautiful language when both you and your partner respect and appreciate each other's communication style.
If your financial love language is investing, you might want to consider investing in a real estate. There are a lot of ways to invest in real estate, one of which is flipping, which is buying a property, fixing it up, and then selling it for a higher price. Other investment strategy options include buying condo properties and renting them out to long-term tenants, buying and renting out vacation homes or short-term rentals, real estate stocks and real estate investment trusts (REITs), and crowdfunding real estate deals and developments.
When done right, investing in real estate can offer a lot of benefits for you to enjoy. From equity and passive income to a more diversified portfolio, there are lots of ways real estate can benefit you both financially and over the long haul. Take for example, investing in a condo property.
As you pay down your loan or the condo property value increases, you build up equity which you can cash in on later. Unlike most other types of investments, real estate keep up with inflation because as the prices rise, so does the cash flow you get from your condo. It can also be a reliable source of income in case of rental properties.
Condo investment is also one way to diversify your portfolio. If you're already invested in stocks, bonds, gold, and other securities, real estate offers a good way to diversify that investment portfolio and mitigate risk. By spreading your funds across a number of different vehicles, you can more effectively offset losses, should they occur. Aside from this, if you invest in a vacation condo, you and your family can also use it the next time you need a getaway. If you purchase a longer-term rental or fix-and-flip property, you could even find yourself with a new primary residence later on.
If you are looking to reward yourself with a gift of a lifetime or invest in a condominium property which you can earn money from, Vista Residences, the condominium arm of the country’s largest homebuilder Vista Land & Lifescapes, Inc. has ready for occupancy and preselling condominiums in Manila and Quezon City that are strategically located near developed business districts and prestigious universities.
To know more about Vista Residences, visit www.vistaresidences.com.ph, follow @VistaResidencesOfficial on Facebook, email us at [email protected], or call the Marketing Office at 0908-9148457.
