Money, along with household chores and children, is one of the most frequently discussed topics in a marriage or domestic partners relationship. This makes sense – you deal with each daily. Yet, financial conversations can be challenging and filled with emotion at times because you and your significant other do not see eye-to-eye… each of you probably have different monetary values and goals. However, healthy money talks may actually strengthen your relationship.
When you and your partner are on the same page about financial matters, you row the boat forward together, instead of pulling it in different directions. Having the same goals will help you make the right decisions for your partnership as you chart your course.
Explore your money profiles and how each of you view money uniquely.
Understand these variances often can be a good balance in your relationship.
Learn to respect each other’s valid opinion though you will assume different roles managing the house and finances.
Embrace the power of shared goals and realize they can strengthen your efforts exponentially.
Imagine how strong your marriage can be when you have honesty and transparency about your money.
Ivy H. Menchel, CFP®, CBEC®, CDFA®* I Sagemark Consulting
Ivy is a CERTIFIED FINANCIAL PLANNER™ practitioner, CERTIFIED BUSINESS EXIT CONSULTANT and CERTIFIED DIVORCE FINANCIAL ANALYST®*. She also holds FINRA Series 7, 63 and 65 security registrations and is fully licensed to provide Life and Health Insurance. She is a registered representative of Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor.
Carrie Rattle, MBA, CDFA®, AFC® Candidate I Behavioral Cents®, LLC
Carrie is a MASTER MONEY COACH focusing on money psychology, emotion, and behaviors; and a CERTIFIED DIVORCE FINANCIAL ANALYST ®. Carrie is a 30-year veteran executive with experience that spans banking and credit cards in 2 countries and brokerage in 6. She studied with both Olivia Mellan, author of 5 critically acclaimed books and Karen McCall, pioneers in the money psychology space since the 1980’s.
*Divorce financial analysis not offered through Sagemark Consulting, a division of Lincoln Financial Advisors.
*Behavioral Cents is a separate entity and is not affiliated with Lincoln Financial Advisors Corp.