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3 Tips to Survive a Financial Crisis Together
Updated: December 19, 2020 |
Taylor Kovar, CFP

What can Couples Do to Survive a Financial Crisis?

Recently, Jerry lost his job. Shortly after that, his wife, Suzie, lost hers. Their bills were piling up. Their home was about to be foreclosed. Tragedy struck big time. Financial crisis was upon them.

Call it crisis or tragedy – it will happen. It’s not a matter of “if” but “when.” How do you work through the unexpected tragedy so you will stay together?

You can survive a financial crisis together.  Here’s how:

1.  Embrace it

Don’t stick your head in the sand. It won’t go away. If you don’t face your tragedy head-on, resentment will build.

2.  Transparency to a point

It’s okay to talk about your fears and feelings but DON’T talk about them ALL the time. Usually, one person in the relationship wants to do this – we are talking to you. Agree on the best time to talk about it. Morning? Night? What is best for you? Establishing this framework allows the person in your relationship that wants to talk about it all the time the security that it will be discussed as well as assuring the person who doesn’t want to talk about it that the subject won’t come up every day, ALL the time.

3.  Tis’ the season

Our grandparents and parents were married for more than 50 years. You know they had financial tragedy seasons!! Remember, the financial tragedy you are going through is just that – a SEASON.  Couples that struggle together, stay together.  Remember it is only a season and you WILL get through it!

One final suggestion

List all four of the Money Personalities in your relationship. Then write down how each Money Personality is perceiving this tragedy. It’s a great way to look at the different perspectives of the situation and talk through how this tragedy is affecting each of you.

Protect your relationship during this challenging time. The tragedy is bad enough; don’t hurt your relationship too.

We would love to connect with you through Facebook and Twitter. Here’s to making your relationship great and discovering the “other” side of money.

Make it Happen!

Taylor & Megan Kovar

The Money Couple

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