Narcissism is quite common in our culture. In fact, The Cleveland Clinic reports that “experts estimate that up to 5% of people have NPD [Narcissistic Personality Disorder].” When you consider the United States’ population of approximately 330 million, five percent would be 16,500,000! Not surprisingly, there are many famous people who are narcissists: Kanye West, Kim … [Read more...] about How Narcissism Affects a Couple’s Finances
The Beatles sang, “All you need is love,” but when it comes to a successful marriage, you need much more than that. Finding a spouse who matches your lifestyle and beliefs is important, especially when it comes to money management. Money issues are often a significant factor in divorce, so to keep your marriage intact, learning skills to prevent arguing with your spouse about … [Read more...] about How to Prevent Arguing with Your Spouse about Money
When Ronald married Shayla, they agreed to keep their finances separate. Shayla knew that she made less than Ronald, but she didn’t know how much less because he wouldn’t tell her. Meanwhile, they split household expenses equally. Shayla struggled to make ends meet on her smaller salary, while Ronald continued to buy and fix up old cars and eat out at restaurants frequently. … [Read more...] about Why Financial Transparency Is Important in Marriage
Abuse comes in many forms. While most people think of physical or emotional abuse, there is often a more subtle form of abuse that happens first—financial abuse. Financial abuse can happen in a marriage or a dating relationship, and it’s often the precursor to other forms of abuse. For that reason, learning the red flags of spousal financial abuse is essential. Knowing what … [Read more...] about What Are the Red Flags of Spousal Financial Abuse?
If you are preparing to enter a marriage with substantial assets, you likely will want to have a prenuptial agreement to protect those assets. Having witnesses is not required when you sign the prenup, but it is recommended that you have two witness and a notary at the signing. There are many reasons why you need a prenup witness or two. … [Read more...] about Reasons Why You Need Witnesses in a Prenup
If you know you’re likely headed for divorce, you may want to protect yourself by selling assets such as property, personal items, cars, etc. However, there are many aspects to take into consideration before making any such move. Selling possessions before divorce can have serious repercussions in how the court treats you once you file the divorce papers. … [Read more...] about Can a Spouse Secretly Sell Possessions Before Divorce?
Jesse frequently talked of buying a sports car, but his wife, Maran, didn’t agree with the decision. She felt their money would be better spent traveling together and making memories. Imagine her surprise one Saturday afternoon when Jesse came home driving a cherry red convertible. Maran was angry and then hurt. How could Jesse make such a large decision without her? In … [Read more...] about How Unilateral Decisions Affect Relationships
While many couples don’t buy life insurance until they decide to have children, that’s not the only time life insurance is needed. If you’re a DINK couple, you should still consider buying life insurance. There are several reasons why you likely want to get life insurance for both of you, even if one partner has a much lower paying job than the other. … [Read more...] about Do Both You and Your Spouse Need Life Insurance?
As you age, you’re at an increased risk of a host of physical and mental ailments. In the United States, “an estimated 5.8 million Americans age 65 or older are living with Alzheimer’s dementia in 2020” (alz.org). If you suspect your partner is afflicted, or if you’ve gotten a diagnosis, there’s no time to waste. Among the many preparations you’ll have to make, you’ll want … [Read more...] about Financial Planning Tips for a Spouse with Dementia
Many couples have joint bank accounts throughout their marriage. This often happens either because they pool all of their money together or because they keep separate accounts but have a joint one to pay household bills. Another reason why spouses share an account is because one person is the budgeter in the family and needs access to the other's money. For millions of … [Read more...] about What Happens If Your Spouse Depletes Your Joint Account Before Separation?