Happy Valentines Day! Check Out Our New Couples & Money Newsletter

Couples & Money
It only seemed fitting we start our triannual Couples and Money newsletter in February.  I know how cliché- but that is the point.  How often do we fall into what has been created into a social norm, expectation or even a tradition?  Take a relationship, how much of what we share is based also on these things? Try this on for size… How is it we are willing to both kiss and sleep with someone after just two to five dates (yes, true according to a recent Time Out survey) and yet we are unable to have an open relationship with our partners about money.  We commit to staying “in sickness and in health until death do us part” but we don’t know what our partner makes in a year? 
 
There is something fundamentally wrong here or is there?  Let’s go back to those social norms, expectations or even traditions and couple them (no pun intended) with our personal EMOTIONAL relationship with money and the influences that have created that relationship.  I don’t know about you but just reading that sentence and all the baggage it brings to mind, who would want to go there. It isn’t surprising we have a communication deficit when it comes to financial openness with our partners.  The narrative is and needs to continue to change.  We hope this newsletter gives you more tools to add to your toolbox, a little laughter to know you are not alone, some thoughts to ponder and guidance to start those dialogs so you can come to a place of financial disclosure, intimacy, and unification with your partner.
 
Thank you for joining us this year on this Personal Journey with Money. 
And remember …

An Ameriprise study
on 
Couples and Money
Discussions about money have the potential to make or break a long-term relationship, depending on how couples address their differences. A new study explores common characteristics of healthy financial relationships, how couples work together — or separately — to manage their assets, and challenges that could get in the way of their success.
We asked more than 1,500 couples (those married
or living together for at least six months) about
their money conversations and how they make
financial decisions.
 

See More >>

Watch what happens when couples exchange phones and look at each other's bank statements. 
Would you ever do this with your significant other?

 
Tips for Talking With Your Partner About Finances 
By Deborah Fowles
 
Psychologists say that many people will talk about anything, even sex before they talk about their finances. Why is it so difficult for us to talk about money? Perhaps because money symbolizes different things to different people: power, control, security, or love, for instance.
It's been estimated that money issues are the driving force in 90% of divorces, but you CAN live happily ever after, financially speaking, if you work at not letting financial issues come between you and your partner.
In her book "Talking Money," Jean Chatzky, columnist for Money magazine and a regular contributor to the Today show, offers practical advice for talking to your spouse or life partner about this emotionally charged issue, including these tips for twosomes:
 

Learn More >>

 
Money is one of the biggest reasons couples fight and break up. Therefore, make sure you talk about it!
Couples discuss their partner's worst spending habits. 

Personal Money Motivations
Self-Test
From “Couples and Money” by Victoria Collins
 
Look at your primary money drives to get important info about your (and your partner’s) behavior. What DOES money mean to each of you? What sparks your urge to make it or spend it?  
 

Complete Self Test >>

Don't lie! Who's better with money? 
Cheddar's couples debate who's the bigger spender,
who's better at saving money, and buyer's remorse.

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