7 Tips for Money and Marriage

September 16th, 20089:57 am @ Adam

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I come across the article listed above in one of my rss feeds called “Get Rich Slowly” and thought it had some good points. I have included some of them below.

  • Talk and share goals. Communication is key. Kris and will take a brief vacation next month. Besides unwinding, we plan to discuss our goals for the future. It’s important for both partners to work together for the same purpose.
  • Run a home like a business. In the forthcoming How to Be the Family CFO, Kim Snider writes that there are many similarities between managing a successful business and managing your personal finances. Your goal should be to run a profitable firm!
  • Be supportive of careers. Help your partner pursue her dreams. When Kris quit teaching to become a scientist, I was ready to do whatever she needed to help her succeed. And when I decided to quit my job to blog full-time, Kris was my biggest supporter.
  • Enjoy, but within reason. It’s okay to spend money to enjoy life (that’s what it’s for!), but don’t get caught up in the rat-race, and be sure to save for the future.
  • Use a mediator. When you and your partner can’t agree on a financial decision, bring in third-party help. If you disagree about how to invest, for example, then see a financial planner.
  • Maintain some independence. “Pooling resources is important,” writes Bernard, “but so is maintaining a degree of financial independence.” Many couples with joint finances also maintain separate allowances for each partner.
  • Invest in your marriage. Spend time and money on your relationship. Bernard says to consider this “dollar-cost averaging your marriage”, which is a clever. When Kris and I get grumpy with each other, it’s almost always because we haven’t been doing things together as a couple.
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