Did you know that financial stress is a TOP cause of divorce in the USA? 😧
Use my 5 steps to avoid tension or fighting and instead start a healthy money talk!
Check out my video about these 5 magical steps and why they might make all the difference!
Resources
Marriage Counselor or Financial Coach? A Couples Financial Coach's Take on Which One You Need
Money is a top cause of relationship stress, breakups, and divorce. When couples face financial issues, they want to find their way to clarity, teamwork, and peace of mind.
But what kind of professional is best-suited to give you the support you need?
Dave Ramsey’s blog post -- “Marriage Counselor or Financial Coach: Which One Do You Need?” -- tries to bring some clarity to this conversation.
He analyzes some stressful money situations. Then, he suggests whether to hire a (1) Marriage Counselor or (2) Financial Coach.
I’m a Couples Financial Coach and Certified Mediator. I’m also a former Tax Attorney and Financial Advisor. Keep reading to see where I agree, disagree, or even suggest a third choice.
…
Below, I’ll discuss Dave’s seven situations. Then, I’ll share some other common money issues and which professional I recommend. Finally, I’ll share more about my work as a Couples Financial Coach.
Deciding between joint vs separate accounts? Here's the 1 issue you MUST discuss!
Deciding between joint vs separate accounts? Here's the 1 issue you MUST discuss!
CNBC Names The Couples Financial Coach Podcast a Top Podcast
It was such an honor to have CNBC name the Couples Financial Coach Podcast as a top podcast for helping married couples to get their finances in order!
The Key Elements of a Stripped-down Pandemic Spending Plan
What are the key elements of a stripped-down pandemic spending plan?
Rent/Mortgage
Food
Insurance (life, health, etc.)
Utilities
Other Debts, including car loan, minimum monthly credit payments, etc.
Medical/Health-related expenses
Transportation, Donations, Subscriptions: because we have to get around, support the cause, and enjoy some shows, right?
Do you fear that talking about money with your partner will just make things worse?
These conversations can be super uncomfortable. 😑
However, when done right, they’ll actually make things easier...for both your relationship AND your finances! 🥳
What’s your #1 *unconventional* money tip?
What’s your #1 *unconventional* money tip? 🤔
Mine: Don’t rush to the numbers. 🚦
Couples should talk values BEFORE they talk numbers. 😮
The 3 most common ways couples arrange their finances
The 3 most common ways couples arrange their finances:
(1) All Joint: everything goes into one pot, and everything comes out of the same pot. 🤝
(2) All Separate: each person has their own pot that they pay into and take out of. You can still split expenses; each person just pays their share from their own pot. 🙌
(3) Mixed: some shared pots, some separate pots. Common structures include each person (a) putting an equal amount or (b) equal percentage of their income into the shared pot. 🤲
Different Money Backgrounds - Is It Really a Problem?
We just have different money backgrounds…☹️
Sound familiar?
Here’s what I’ve learned: pretty much all couples feel this way. 😮
What’s the #1 money mistake couples make?
What’s the #1 money mistake couples make?
They go straight to the numbers. 📊