Money Tips for Couples
Money is one of the top reasons couples argue. It can be a touchy subject between partners and often times leads to fighting that has the potential to destroy marriages and families. Money problems can also lead to depression, alcoholism or drug addiction. It doesn’t have to be this way, we must not give money the power to destroy our lives. Money is amoral, not good or bad, but rather a tool for us to learn how to use wisely.
The first step in creating unity around finances is to identify when you have money fights. They often occur during bill paying time, at night in bed when exhaustion has set in and you just want to sleep or during a romantic dinner date. These are NOT the times to talk about finances. In my book, Fit Money, 7 Steps to Get your Financial Life in Shape, I discuss the need for a monthly financial date with your partner. It’s a special time set aside to discuss your budget and financial goals. Each partner prepares for the financial date depending on their role with the finances. For example, in my marriage I am in charge of managing the bills each month, so I come to our financial date with a one-page recap of what has happened the month before and what is going to happen the following month. My husband’s job is to come willing to listen and discuss this with me, so I don’t feel alone in managing our finances. The financial date should follow an agenda which includes talking points around your cashflow, what’s working and what’s not working and a chance for each partner to express concerns and feelings. The end result or goal of the date is to create clear intentions around your money, get organized with your finances and create unity in the relationship. Check out financialfreedomwmg.com/FitMoney for the Financial Date agenda!
Information in this material is for general information only and not intended as investment, tax or legal advice. Please consult the appropriate professionals for specific information regarding your individual situation prior to making any financial decision.
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