Donna’s grown daughter, Felicia, asked her mother for money to start a new business venture. Donna didn’t feel comfortable with the business, but she wanted to help her daughter. Plus, she knew if she said no, Felicia would threaten Donna by withholding Donna’s access to her grandchildren. Donna pulled the money from her retirement account. Four years later, Felicia’s business, … [Read more...] about How to Set Money Boundaries in Relationships
3 Ways to Help a Financially Struggling Spouse
When I lived in Chicago, our landlords had been married for over 20 years. He was used to being the breadwinner. She worked part-time at a low-income job and helped to manage their three rental properties. During the economic downturn in 2007, he lost his job. At first, he optimistically applied for other positions, but as the months dragged on, he went into a deep depression … [Read more...] about 3 Ways to Help a Financially Struggling Spouse
How We Benefitted from Premarital Counseling
My husband and I dated for nine months before he asked me to marry him. I said yes immediately, but I had some concerns about getting married—not to him—but getting married in general. My parents had always had a rocky relationship, and I didn’t want to repeat that in my relationship. We decided to go to premarital counseling, which was one of the smartest decisions we … [Read more...] about How We Benefitted from Premarital Counseling
Can You Sue Your Spouse for Theft?
When you’re married, you expect to work with your partner to accomplish your life and financial goals. As the old saying goes, two are better than one, and with double the earning, saving, and spending power, couples often find they have an easier time getting ahead financially than their single friends. Unfortunately, for some couples, a marital union doesn’t help them get … [Read more...] about Can You Sue Your Spouse for Theft?
6 Things I Would Tell My Younger Self
Sometimes life doesn’t seem fair. We acquire knowledge throughout our lifetime, but we can’t go back and improve on our younger selves. However, by reflecting on mistakes made in the past, we can stay on course in the present. … [Read more...] about 6 Things I Would Tell My Younger Self
How to Improve Financial Communication for Couples
Money arguments occur in many marriages, but they don’t have to. When you learn how to improve financial communication for couples, you will find that you have less to argue about because you understand one another. Once you’re on the same financial page, you can work together to achieve your goals, which sounds better than rehashing the same tired financial arguments month … [Read more...] about How to Improve Financial Communication for Couples
Why I Dined Out Constantly and How I Stopped
Years ago, when I worked full-time and my husband was a graduate student, we dined out several times a week in the evenings. In addition, I would go out to lunch with co-workers at least twice a week, and I would buy food at the college cafeteria the other days. (The food wasn’t that good!). I didn’t realize until a few years after I had stopped dining out why I wanted to go … [Read more...] about Why I Dined Out Constantly and How I Stopped
What Are the Tax Strategies of High Income Earners?
As a DINK couple, you may find yourself and your partner in the enviable position of earning high salaries. While having a high income is a nice reward for hard work, drawbacks exist. One of the biggest is the amount of taxes that you have to pay. However, you can utilize tax strategies of high-income earners to limit the tax burden you face. … [Read more...] about What Are the Tax Strategies of High Income Earners?
6 Signs You’re with a Financially Compatible Spouse
The more compatible you and your spouse are, the smoother your relationship. When you live with or are married to someone who shares your values, you can more easily work together to reach your goals rather than fighting because you have different views and values. This is especially true if you’re with a financially compatible spouse. Not fighting about money but instead … [Read more...] about 6 Signs You’re with a Financially Compatible Spouse
How I Planned to Discuss End of Life Planning with My Parent
Recently, I drove 2,000 miles from my home to my 72-year-old mother’s home. I hadn’t seen her for two years, so I was excited to visit. However, I also had another motive in mind. While visiting, I wanted to discuss end-of-life planning with her. Imagine my surprise when she was the one who initiated the discussion with me! … [Read more...] about How I Planned to Discuss End of Life Planning with My Parent
