smart spending

Couples' cash: managing money and marriage

Figure out where your spouse is coming from
Next
Slide 2 of 6
Back
Figure out where your spouse is coming from

To manage money and marriage together, spouses must understand each other's ideas about finances. While money doesn't buy happiness, there is a strong correlation between happiness and "the degree to which our financial decisions and behavioral choices are in alignment with our deepest values," says Susan Buniva, a therapist in Richmond, Va.

"For couples, it is a process of discovery, both individually and collectively, that allows us to live with more synchronicity and happiness," she says.

To see a complete view of the financial world from your spouse's viewpoint, ask open-ended questions, says Lynn Ballou, managing partner of Ballou Plum Wealth Advisors LLC in Lafayette, Calif. She recommends questions such as the following:

  • How did your parents handle money? How are your siblings dealing with money?
  • Do friends and family ask you for loans? If so, how do you respond? Do you ask family and friends for money?
  • How did you begin your independent financial life? When did you start paying your own bills? Did you ever run into trouble with debt?
  • How do you define "needs" versus "wants"?
  • Do you use cash, swipe credit cards or write checks? How often do you sit down and review your circumstances against the financial vision you have for your life?

Next
Slide 2 of 6
Back

 

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE REFINANCE AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 3.79%  0.03 3.76%
15 year fixed 2.93%  0.03 2.96%
5/1 ARM 2.99%  0.05 3.04%
 
View Rates in your area Next
Product Rate Change Last week
30 year fixed refi 3.85%  0.02 3.83%
15 year fixed refi 3.00%  0.04 3.04%
10 year fixed refi 3.06%  0.06 3.12%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.68% --0.00 2.68%
48 month used car loan 2.76% --0.00 2.76%
60 month new car loan 3.07%  0.01 3.08%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 1.00%  0.02 1.02%
2 Year CD 1.18%  0.02 1.20%
5 Year CD 1.67%  0.03 1.70%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 16.05%  0.17 15.88%
Cash Back Cards 16.40%  0.07 16.33%
Low Interest Cards 11.21%  0.11 11.10%
 
Next
advertisement
FRUGAL NEWSLETTER

Discover new ways to cut costs and save more every day. Reduce your spending, not life’s pleasures. Delivered weekly.

advertisement
Partner Center
advertisement

Connect with us