smart spending

Couples' cash: managing money and marriage

Respect your spouse's history and habits
Next
Slide 3 of 6
Back
Respect your spouse's history and habits

When couples come to Honeck for money coaching, she starts by talking about their personal ideas about money and marriage. She asks them to talk about how money was used in their parents' home and the financial ideas they were taught or observed as children.

"When they hear each other share from a nonjudgmental place, they can begin to come together on strategies that work for the two of them," she says. "By working from the belief standpoint, instead of from the problems, they can stay open to consider new alternatives."

Simply talking about each other's history may not be enough. "Ask a lot of questions of each other about why you have the history and habits you have," Ballou says.

If these conversations reveal that you and your partner aren't compatible in dealing with money, consider reaching out to a financial counselor. "Once there is respect, acceptance and the ability to work as a team, then it's a matter of deciding if you are in agreement about where you are going," Ballou says.


Next
Slide 3 of 6
Back

 

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 4.11%  0.06 4.17%
15 year fixed 3.22%  0.04 3.26%
5/1 ARM 3.46%  0.13 3.33%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.31%  0.02 4.29%
50K FICO-based HELOC 4.06%  0.02 4.04%
100K FICO-based HELOC 3.91%  0.02 3.89%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.79% --0.00 2.79%
48 month used car loan 2.99% --0.00 2.99%
60 month new car loan 3.23%  0.01 3.24%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.97%  0.00 0.97%
2 Year CD 1.18%  0.02 1.16%
5 Year CD 1.81%  0.10 1.71%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.75% --0.00 15.75%
Cash Back Cards 16.45% --0.00 16.45%
Low Interest Cards 10.96% --0.00 10.96%
 
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