It’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.
Posts Tagged ‘the money couple’
Hiding Money…is it ok?
Friday, August 7th, 2009Prenuptial Agreements – Should We or Shouldn’t We?
Thursday, July 23rd, 2009The number one cause for divorce is miscommunication about money – in most cases it is better to “get it all on the table.” vs. waiting until it is to late.
Are we setting ourselves up for divorce by having a prenup? No. There are some very practical reasons to have one in place.
Here are some points to having a positive prenup conversation:
1. Set the tone – it is important to keep it positive – obviously with this type of conversation it is easy to become defensive. You can open the conversation like this: “I would never want money to come between us and ruin our relationship. Why don’t we explore some reasons to have a prenup. Let’s talk about the positive and negative aspects.”
2. Be sure to write out the positive and negative aspects to having a prenup. For help with discussion questions see our Money Couple Minute here.
3. Once you have agreed upon a prenup take these important steps:
- Be prepared – set your prenup up a number of months before the wedding – wedding planning can be stressful, be sure have this done and out of the way.
- List all of your assets and liabilities – this can be a relationship saver because there will be no financial surprises.
- Set it up to strengthen the relationship – start your relationship out right, clear financial communication is key to making sure your love stays strong.
Remember, no two relationships are the same. Decide what is the best decision and move forward together.
View the Money Couple on ABC’s News Now segment, “Good Money” as they talk about prenuptial agreements and answer viewer questions in the Money Couple Minute HERE
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Welcome to the Money Couple Blog!
Saturday, November 22nd, 2008Welcome to the Money Couple blog. We will be adding all types of helpful information for you regarding financial infidelity and other money related issues for couples. Visit our site at www.themoneycouple.com for more information. Thanks for visiting and come back often.
Scott and Bethany Palmer are financial communication experts specializing in helping couples work through financial infidelity. Scott and Bethany are also the authors of the highly successful book Cents and Sensibility and First Comes Love, Then Comes Money.