A new book from two financial gurus seeks to end money conflicts for married couples.
7) Come clean about financial infidelity — and figure out why it happens.
Even if you only have eyes for your partner, you're probably guilty of financial infidelity — being less than honest about money. Maybe you have a secret stash of bills or tell a white lie about how much something cost in order to avoid an argument. Whatever the case, you can't afford to let distrust ruin your relationship. Come clean about financial infidelity and don't let it happen again. Most importantly, figure out the real reason why you weren't honest in the first place. Take the quiz: Are You Financially Unfaithful?
8) Don't put one person in control of finances.
One guaranteed path to financial infidelity: putting one person in charge of finances. Sure, one partner is inevitably better at math than the other. One is better at remembering the online banking passwords. No matter how you split the financial load, you're both adults with shared responsibility. Both of you need to know about — and maintain control over — the money coming in and going out of your accounts.
9) Check in on your Money Relationship each month.
The 5 Money Personalities encourages couples to have a monthly Money Huddle, which is not to be confused with a bookkeeping session. Instead of paying bills together or one partner filling the other in, it's an open conversation about shared finances and goals. Once you and your partner are on the same page about numbers, it's time to talk emotions. How do you feel about your finances?
10) Dream together.
Money can lead to fights. But it also pays for vacations, college education, a home of your own and many wonderful life experiences. Use financial conversations to connect your daily money decisions to your future. What are you saving for as a family? What do your finances have to do with your spiritual and emotional wealth? How can your money be spent — or saved — to make your life richer?