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Money is cited as one of the top reasons for divorce and separation. Yet, finances seem to be viewed as a “We’ll worry when we get there” type of issue. In this post, I delve into the concept of money personalities and how they can foreshadow the outcome of your marriage.
Have you taken your money personality quiz yet? Click the link here to find out where your relationship with money stands:
What are “Money Personalities”?
Money personalities are a reflection of our individual attitudes, beliefs, and behaviors related to money. These are often shaped by our upbringing, past experiences, and personal values. When two people come together in a relationship, they bring with them their unique money personalities.
The Impact on Your Marriage:
When partners have different money personalities, it can lead to conflicts and misunderstandings. For example:
- A Super Saver may feel stressed when their Spender partner makes impulsive purchases.
- A Hero may become frustrated with an Avoider partner’s reluctance to discuss financial matters.
- A Life Enthusiast may clash with a conservative partner over investment decisions.
These conflicts can escalate over time, eroding trust and causing emotional yet neglected distress. You could understand why money disagreements are the second most common reason for divorce…
How To Make Money Personalities Work Together (Instead Of Against)
- Start a Conversation: Building a respectful relationship around money means initiating a respectful conversation about your financial expectations and concerns. Share your money personalities with each other and how they have shaped your views on money.
- Set Common Goals: Identify shared financial goals that both partners can work toward. Whether it’s buying a home, saving for retirement, or paying off debt, having common objectives can foster unity.
- Create a Budget: Develop a budget that aligns with your goals and accommodates both partners’ money personalities. This allows for controlled spending while satisfying the desire for occasional indulgences.
- Seek Professional Help: We all need someone that has already ‘done it’ to help us bring that vision to life. Consider working with a financial advisor or counselor who specializes in couples’ financial therapy. They can provide guidance and strategies to navigate financial challenges.
Understanding and addressing money personalities are vital steps in building a healthy and lasting marriage. Acknowledge your differences, work together to find a common ground and your finances will be one less thing to worry about in your marriage.