Month: May 2021

How Finances Play a Role in Your Relationship

Relationships are typically divided into two financial roles: the active and the passive. To be more specific, the person who assumes the domestic financial lead by paying bills and making financial decisions and the person who takes a passive approach to the finances (“I don’t know” … “fine” … “you decide.”) Although this is typical, it is not optimal. In this traditional circumstance contentiousness can emerge between spouses as a result of misunderstandings and miscommunications about money. Ideally, partners should approach finances like all other areas in a healthy relationship, as a team: collaborating on goals and strategies while openly communicating about money. If they don’t however, the following are important points to consider about each role.  The Financial Lead The role of the financial lead, for those who take this responsibility seriously, is not an easy one. You have the challenge of balancing the important financial responsibilities while simultaneously making your family happy. And for domestic tranquility’s sake, you can’t always say “no, we can’t afford it,” but occasionally you need to pull the reins on the household spending. We have met with many widows who were surprised to find that their spouses left them in a precarious monetary

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How Finances Play a Role in Your Relationship

Relationships are typically divided into two financial roles: the active and the passive. To be more specific, the person who assumes the domestic financial lead by paying bills and making financial decisions and the person who takes a passive approach to the finances (“I don’t know” … “fine” … “you decide.”) Although this is typical, it is not optimal. In this traditional circumstance contentiousness can emerge between spouses as a result of misunderstandings and miscommunications about money. Ideally, partners should approach finances like all other areas in a healthy relationship, as a team: collaborating on goals and strategies while openly communicating about money. If they don’t however, the following are important points to consider about each role.  The Financial Lead The role of the financial lead, for those who take this responsibility seriously, is not an easy one. You have the challenge of balancing the important financial responsibilities while simultaneously making your family happy. And for domestic tranquility’s sake, you can’t always say “no, we can’t afford it,” but occasionally you need to pull the reins on the household spending. We have met with many widows who were surprised to find that their spouses left them in a precarious monetary

Read More »