So you’ve said the vows, “Till debt do us part.”, wait no that’s not right, but I don’t think I’m the only one who’s gotten it wrong. It’s evident when you look at the divorce rate in the country and realize that the leading cause of this division in a union that was once whole and holy is money. Why do you think money is the leading cause for divorce in America.
The only thing you can control is you, so I’m talking to you, yes you. You can’t expect your spouse to change if their are unresolved issues rattling around in your house. So in order to keep a happy home and make sure your marriage isn’t on the road to divorce court because of conflicting money mindsets and minimal currency you must know the 5 steps for a profitable partnership.
Increased spending power is one of the financial values of marriage, but isn’t much value if it’s the thing that places a thorn dead smack in your side. Partners have a responsibility to build each other and support each other to reach a common goal. The challenges arise when a couple have yet to identify those goals or make sure they are on the same page when it comes to achieving them.
Know Your Money Personality and make sure your partner knows too.
While you may not be able to change your personality, you can acknowledge it and address the challenges that it presents. Are you a spender, saver, shopper, investor or debtors? You must know who you are to address it and deal accordingly. The same goes for your partner because if they don;t know the wrong word or act could cause serious damage. This will also help when it’s time to assign roles, such as who’s in charge of actually paying the bills.
Give a 100%, but make sure it’s equal
Whether it’s financial, emotional or mental. You must make sure that you are adding value to your partner always. If you both focus on this you empower each other to be your best. Make sure you are depositing and withdrawing, because if this isn’t balanced it can cause your partner depletion which can lead to resentment, hostility and disconnect. Once you have a financial disconnect that isn’t addressed it’s the same as putting a hole in the flood cate and watching you land slowly flood until the levy’s break. The truth is two complete, whole people equal one happy couple.
You accepted them for better or for worse, there fore that $60,000 student loan is included. A true partnership means you accept their baggage without pointing fingers telling them their stupid because of a poor money decision.
Communicate about Cash
Being a good communicator entails paying attention to the words you choose and the tone you use. You must remember what you are saying may not be what your partner is actually hearing. Communication doesn’t include raising your voice, interrogating or blaming your spouse about finances.
Stick to the script
Create a plan of action, guidelines to follow and measurable outcomes that help you determine if you’re headed in the right direction. This plan will keep you and your spouse on track, but also help you identify where you went wrong. By setting rules you eliminate many surprises that have the potential to turn into fights. There may be things that arise that cause you to deviate from the script, but it’s much easier to make adjustments to the existing game plan that to create one from scratch when you need it.
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