Nearly every relationship harbors some level of financial infidelity. It might be as minor as not telling your partner what you really spent on her birthday gift or as major as keeping a secret bank account to pay for your gambling addiction. (Find out where you stand with the Financial Relationship Index) Either way, the path to healthy financial communication will never be smooth unless you are honest about your behavior and…[Read the entire Money Couple Minute,
5 Steps to Confessing Financial Infidelity].
Posts Tagged ‘financial mistrust’
5 Steps to Confessing Financial Infidelity
Friday, June 4th, 2010Is There Life After Foreclosure? 4 Steps to Recovery
Monday, March 15th, 2010We are meeting with lots of couples in this situation and seeing the stress this huge upheaval can cause in a relationship. If you’re losing your home, here’s how to pick up the pieces and move forward.
1. Grieve the loss – Get the complete details in this Money Couple Minute HERE.
2. Avoid the blame game – Find out how to avoid this pitfall in this Money Couple Minute HERE.
3. Decide how public you want to make this news – Learn how to decide together what the best plan is in this Money Couple Minute HERE.
4. Take some time off – What does it mean to take time off? Get some practical advice in this Money Couple Minute HERE.
Watch the Money Couple talk about “Life After Foreclosure” in this video from ABC News Now:
How Do We Talk About Life Insurance?
Monday, October 26th, 2009What happens to my family financially when I die? Many of us know someone who lost a parent at a young age or a spouse in the early-to-mid stages of marriage. What is the impact on those who are left behind? Will your spouse be able to stay in dream home you purchased together? Will he or she be able to give time to your children or will work be the primary focus to keep a roof over their heads? Will the lives of your children be uprooted as well as being turned upside-down due to your death? Now is the time to get prepared. Communicating about it is often filled with anxiety and apprehension. Here are some tips to get started:
- Set the tone – it is imperative to keep it positive
- Discuss what income would need to be replaced
- Discuss if you want term insurance, universal or variable universal insurance.
Be sure to see more details written out in our Money Couple Minute “How Do We Talk About Life Insurance”.
Remember, this is a decision you need to make together. Protecting each other and making sure your family is taken care of will help bring you closer together and give you both peace of mind.
Avoiding Income Resentment
Friday, October 9th, 2009We find that the primary breadwinner can sometimes feel like he or she should have more say so about money issues simply because that individual makes more. Couples that know how to communicate about money recognize that they have to think like partners, not individuals. Money touches every part of life, so if one partner is trying to control the money, the resulting bad mojo is going to infect the whole relationship.
Learn the necessary steps to ensure solid financial communication and how to avoid the income resentment trap in this weeks’ Money Couple Minute Avoiding Income Resentment.
Dealing with Debt
Friday, August 28th, 2009Debt doesn’t go away, so talk about it…Now.
Once you discover that one of you has serious debt, get over the anger and shame and start working on paying down the debt. Your bank can help you work out a payment plan that fits your budget, so be honest with them, too.
Get more practical insight about dealing with debt in the Money Couple MINUTE, Dealing with Debt. In this MINUTE you will learn more about being honest about the past, making a plan, and how to stick to it.
Hiding Money…is it ok?
Friday, August 7th, 2009It’s one thing for couples to have separate accounts—his and hers checking or separate cash reserves. But secret accounts are a whole ‘nother ballgame. They mean that someone in the relationship doesn’t trust the other person with financial decisions. And since money touches every part of our lives, that financial mistrust usually points to a deeper level of mistrust that will infect the whole relationship. That’s why hiding has to stop if the relationship is going to survive. Read the complete article explaining the dangers of hiding money in the Money Couple Minute, Hiding Money.