Sometimes turning the tides on a "bad" financial situation happens more easily by looking at what smart couples are doing to create "great" situations. Experts Denise Wade and Anne Alexander Vincent weighed in on this topic and offer the following quick tips as a menu. Even one or two of them done consistently will help to turn things around into the black (or the green!).
YTE MONEY SPOTLIGHT 2011
Money conflicts result in some of the most intense and destructive arguments in any relationship. Money is a topic very few people are comfortable talking about, and issues concerning spending and saving are deeply personal. The additional variable that's been silently added to the mix is the turning of the tides in many relationships for who is the primary breadwinner. Here are five tips for keeping a breadwinner relationship tension-free.
I know this sounds crazy, but I believe it is best to prepare for divorce before you even get married. As a romantic, I hate this. As a divorce attorney, mediator and coach, I've seen the worst of the worst walk through my office door and cannot tell you how priceless this advice actually is. Being prepared for the unexpected may be one of the smartest decisions you'll ever make.
D-E-B-T is a dirty four letter word in any love relationship. Money seems to be a sensitive subject for most, yet the topic cannot be avoided when you’re sharing your life with someone. As debt surfaces in your relationship, the tensions rise and daily interactions between you and your partner drastically change. For folks who have debt that is out of control, they are often stuck in a spiral of negative emotions. Feelings that can range from regret to shame, guilt to embarrassment, hopelessness to despair, disappointment to depression, worry to fear and frustration to rage. As arguments escalate and fears rise, the feelings can become more than either person can handle. You’re left feeling like the world is spinning out of control and you’re not quite sure how to get off the ride.
Money is one of those super-charged topics that can turn a conversation from lukewarm to boiling in an instant. Money conversations can bring even the level-headed to an emotional breaking point when their anxiety rises to the surface. Is it our mistaken beliefs about money (that we'd miraculously be happier, better looking, attractive, secure etc. if we had more of it) that has created the place for such a hot button response? It's a good question to ask because our lack of understanding about why we react the way we do is one of the reasons we're plagued with such childlike fears around money. To gain control of your money fears, first you have to understand them.
We know the importance of discussing sex before we hop into bed. But money? Oh, no. talking about money with a potential life partner can feel much more embarrassing—and threatening—than a rundown of our sexual history.
When it comes to love, one of the hardest areas for couples to successfully, and harmoniously, navigate is their wallets. It's well known that money is a leading cause of divorce. And in the therapist's office, a well-tested belief is that sex and money are two of the most important issues to talk over—so much so that the belief is that if you're not talking about sex and money, someone (and maybe it's the therapist) is in denial! Money is a major force in most relationships—this week, Experts teach us how to harness its power.