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Destroy Your Holiday Debt

admin — Mon, 30 Jan 2012 23:41:17 +0000

The party is over and now the bills are rolling in. A recent poll cites that Americans spent 548 billion dollars during the holidays (Answers.com). How do you recover and get 2012 off to a great start? Here are three tips to get you and your budget back on track:

Add it up! – This is no time to wimp out or stick your head in the sand. Pull all of your statements together [more...]
Get Strategic. – Figure out what you need to start paying off first. It is tempting to pay the lowest balance first. [more...]
Work as a team! – If you are married, be sure to agree on your approach. Couples that agree on how to approach and tackle holiday debt together get their debt paid off [more...]

[Read the Complete Money Couple Minute HERE]

Scott & Bethany Palmer
Make it Happen!
The Money Couple

Dating? Having a Money Talk

admin — Tue, 17 Jan 2012 15:32:40 +0000

You have been dating and are starting to be filled with hope and excitement as you think about your future together. Where would you live, what kind of family would you have, what kind of adventures would you experience, and how would you handle your money as a couple.

If one of those things doesn’t seem to fit with the others, well, you’re not alone. We find that in all the fun and emotion of dating, money conversations often get left out. And we get that – talking about money doesn’t seem very romantic.

According to a recent survey by Country Financial, 49% of couples do not talk about money before they are married. Since money affects every aspect of your relationship, learn your money compatibility early on.

Here is how to have your first Money talk:

Discover and reveal your Money Personality. – Money affects every aspect of a relationship. Early in your relationship, you need to understand your… [more...]
Identify their response. – If the response is negative – red flag, red flag, red flag. For example: [more...]
Discover their Money Personality. – Ask yourself, “Is this a Money Personality I can live with for… [more...]

Discovering more about the person you are dating will help you decide if you want to pursue this relationship or not. As you talk about your Money Personalities, you might find this money conversation can be a little more romantic than you thought.

[Read the Complete Money Couple Minute HERE]

Make it Happen!

The Money Couple
Scott & Bethany Palmer

It’s a New Year, and a New You – Revamp your Money Relationship

admin — Tue, 03 Jan 2012 03:00:30 +0000

Pop open the champagne and toast to a New Year, and a new Money Relationship! In the past year, you might have skipped out on a few Money Huddles, argued about everyday money issues, or hesitated to reveal certain impulse purchases to your partner. As a couple you might have spent too much on date night, or cut back on vacation time with your family because of a tighter budget. You might even be suffering from a holiday-spending hangover, but none of that matters now! January 1 is a clean slate, and it’s yours for the taking! Reclaim and revamp your Money Relationship with your partner, and do the following:

Celebrate the Victories – It wasn’t all bad. Sure, you might have had some Money Relationship slip-ups, but focus on the things that you did right. [more...]
Discover something NEW – It’s time to do some digging. Take some time to reflect on the state of your relationship over the past year. Think about times that you [more...]
Recommit to your Love & Money Vows – Get out your pen and paper and write down your Love & Money Vows. The top two items should be “no money fights” and “no financial infidelity.” [more...]
Dream the dream – Set aside some time with your partner to dream up one goal [more...]

[Read the Complete Money Couple Minute HERE]
Here’s to a great Money Relationship in 2012!

Make it Happen!

The Money Couple
Scott & Bethany Palmer

Take A Financial Holiday

admin — Tue, 20 Dec 2011 05:00:54 +0000

Seriously? The Money Couple says, “Take a Financial Holiday”? That doesn’t mean throw all reason out the window but we know this time of year can be stressful… let’s face it , ALL of the 5 Money Personalities™ find stress around this time of year:

Savers stress because the savings are dwindling,
Spenders are going crazy with the gift giving,
Risk Takers are “going for it”,
Security Seekers are holding on to their lists; and
Flyers, well, the gift giving isn’t on the radar quite yet

So together take a financial holiday, kick your feet up and enjoy the reason for the season!! That’s right, the Money Couple just told you not to think about money. We recognize that it’s not easy to stop thinking about your finances during what is often the most expensive season of the year. But spending energy talking about money right now will only take away from what should be a peaceful, joyful time filled with family and friends. Here’s how to let go of the stress and enjoy your holidays:

[Read the Complete Money Couple Minute HERE]

Make it Happen!

The Money Couple
Scott & Bethany Palmer

How to Bring Your Love and Money Together for the Holidays

admin — Mon, 05 Dec 2011 16:00:38 +0000

The holiday season brings with it beloved traditions, joyous memories, and happy moments with friends and family. And plenty of good old-fashioned financial stress!

For so many couples, the holidays are a minefield of difficult money decisions. How do we stick to a budget and still give meaningful gifts? Do we really need to buy a gift for Great Aunt Martha? Where are we going to get the money to pay for all of this stuff? With so many money-based decisions coming in the midst of all the other stressors of the holiday season, it’s more important than ever that your money communication stays strong.

Start this holiday season with a Money Huddle to check in on expectations and create a spending plan that won’t leave you broke come January. Here’s what you need to cover:

Money Personalities: The holidays bring out the strengths and challenges of every Money Personality. [more...]
The Gift List: Work together to figure out who you need to buy for. If money is tight this year, consider [more...]
Spending limits: Before you set foot in a store or do any online shopping, know what you can spend [more...]
Timing: Last-minute shopping usually leads to overspending. If you haven’t already, start [more...]
Check-ins: Plan on weekly Money Huddles to make sure you’re staying on track. [more...]

[Read the Complete Money Couple Minute HERE]

Make it Happen!

The Money Couple
Scott & Bethany Palmer

Help, I Married My Money Opposite!

admin — Mon, 21 Nov 2011 17:00:37 +0000

We hear this all the time. As we travel and speak around the country, this is a source of pain and panic for many couples. We have found that 75% of all couples marry their opposite money personality! No surprise that 70% of all divorces cite money as the reason for their split. But being married to your money opposite does not have to ruin your relationship. It can even make it stronger! Here are four tips to surviving your money opposite:

Know and OWN your Money Personality – What is your Primary and Secondary Money Personality? Are you a: Spender, Saver, Risk Taker, Security Seeker, or a Flyer? [more...]
Understand your spouse’s Money Personality. – Once you understand how your spouse views and deals with money, [more...]
Understand the Opposite Dynamic. – On one side of the spectrum there are Savers and Security Seekers, on the other side we have Spenders, Risk Takers and Flyers. [more...]
Have some fun! – Enjoy your new found knowledge about yourself and your spouse. [more...]

[Read the Complete Money Couple Minute HERE]

Make it Happen!

The Money Couple
Scott & Bethany Palmer

5 Steps to Fix Your Credit Score Together

admin — Tue, 08 Nov 2011 00:10:11 +0000

Don’t miss the “Love & Money Conference” – November 11 & 12!

Click here to hear a radio promo.

Click here to read an article about the conference.

Click here to get more information.

Money affects just about every decision you make together. Helping your Money Relationship by improving your credit score is what we want to focus on in this Money Couple Minute. Your credit score is an important part of your financial picture and having a bad one can cause a lot of tension in your Money Relationship. So here are 5 tips to get your credit score back on track:

Start as a united front. – You have to be on the same page as a couple to make this score go up. [more...]
See what is real! – What is your score and how bad is it. This is not a time to point fingers or blame. [more...]
Pay your bills on time!!! – You have to show consistency to bring the score up. Working on this as a couple will jump start the improvement. [more...]
Pay them down as much as you can. – The more credit available the better your score. Pay your credit cards off but keep the credit lines open. [more...]
Don’t cancel them as soon as you pay them off. – Often the Security Seeker in the relationship will want to [more...]

[Read the Complete Money Couple Minute HERE]

Make it Happen!

The Money Couple
Scott & Bethany Palmer

More Money or More Love?

admin — Tue, 25 Oct 2011 02:00:50 +0000

More money does not equal more happiness in your relationship as stated in a recent study. It is important to look at the bigger picture when it comes to your relationship and money. Most of us assume that our budget, retirement plan, and cash flow work sheet will give us a happy relationship when in order and plenty. However, we have found this is clearly not the case.

Your views on money impact every decision you make as a couple from the big stuff like houses and cars to the mundane details like the kind of coffee you drink and the brand of shoes you wear. If you communicate about these decisions well, you have a good “Money Relationship”. If you argue and bicker about these decisions, you have a bad “Money Relationship”. We’re talking about something that goes far beyond your checkbook or bank balance. We’re talking about the way each of you think about and deal with money. Every person has a distinct way of thinking about and dealing with money. And in a relationship, those distinctions can be the difference between being on the same page about financial issues and having money be a constant source of conflict. That’s why when couples ask us how to build a strong “Money Relationship”, the first thing we tell them is to figure out their Money Personalities.

[Read the Complete Money Couple Minute HERE]

Make it Happen!

The Money Couple
Scott & Bethany Palmer

5 Ways to Use your Credit/Debit Cards Together

admin — Tue, 11 Oct 2011 03:00:52 +0000

Credit cards are one of the major issues of tension and fighting in relationships. Couples that have a Spender or a Risk Taker Money Personality have to be especially careful. But never fear, couples and cards can mix, here’s how:

Become strategic and intentional as a couple! – In your next Money Huddle talk about how you [more...]
On-line shopping protection – Credit cards can give you a level of protection that you have to have! In case of [more...]
Rental Car – Many cards protect the driver while renting a car. This is a great benefit and you should [more...]
Organizes your expenses at the end of the year – Many cards will give you a consolidated report, itemizing your [more...]
Airline miles! – If used properly, you can build miles for upcoming work trips and vacations. Using miles is [more...]

[Read the Complete Money Couple Minute HERE]

Make it Happen!

The Money Couple
Scott & Bethany Palmer

Fall Forward Together

admin — Tue, 27 Sep 2011 16:42:04 +0000

As you look to the months ahead, consider these statistics:

National Retail Federation reports that consumers are expected to spend $4.75 billion dollars on Halloween this year.
According to mymoneyblog.com the average family spends $302 during Thanksgiving weekend.
According to wikianswers.com the average family spends $1000 during the Christmas holiday season.

Remember, just about every holiday discussion has a money component. So how do you approach this “battlefield” and fall forward together? Here are some Money Huddle conversation starters. Use them – or your own ideas – to get the discussion going. And be ready to compromise with your spouse as you work together to find new ways to approach this season of traditions:

Halloween
Thanksgiving
Christmas

[Read the Complete Money Couple Minute HERE]

Make it Happen!

The Money Couple
Scott & Bethany Palmer