4 Money Talks Every Couple Needs to Have
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- Photo: Jamie Grill
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“You don’t truly know each other until you discuss your individual spending styles and financial goals, and come clean about any debt,” says financial psychologist Brad Klontz. “Being honest about how money was handled in your family growing up can also help your partner begin to understand any money hang-ups you bring to the relationship.”©Redbook -
Decide together what qualifies as a big-ticket purchase requiring approval by both partners. “Many acts of financial infidelity take place because couples don’t have an explicit understanding about how much they’ll spend or save,” says Klontz.©Redbook -
If you hit an impasse over spending issues, consider setting up an appointment with a financial counselor who can help. You can find one at fpanet.org/findaplanner or financialtherapyassociation.org.©Redbook -
No matter what you agree to, Klontz says it’s key to sit down 30 days after hammering out a plan to see how it’s going. “People tend to slip up if they don’t revisit their goals,” he says. Ask each other two questions: Is it working for me? Is it working for you? “If either of you says ‘no,’ renegotiate the terms to something you’ll both stick to.”©Redbook
Some of the WORST advice I think you could receive...
... If a couple is having disagreements about how to SPEND money... go see a FINANCIAL advisor?
How about a MARRIAGE counsellor?
Holy crap... go get advice from someone who wants you to give over control of your capital assets [to them] if you are having trouble, as a couple, deciding how to spend your money?
I suppose it would be harder to spend that way... but it's STILL gonna cost you - just in a different way.
Go see a marriage counsellor. My word... sounds like Suzi Orman wrote this article!
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