The Human Side Of Money presented by Client Care Lifestyle Financial Planning – The Importance Of Being Able To Talk About Money
Research shows that money is the #1 reason couples cite when filing for divorce in the USA. Experience tells me that things are no different in SA. The truth is that our money personalities are hardwired into each of us at an early age. We all assume that everyone else views money as we do but we learn that this is far from the truth which often causes problems in our relationships.
We make money decisions every day and if we are not on the same page as our partner, the scene is set to explode like a piece of blitz next to a flame! She wants to spoil the kids or get that beautiful new vase for the house while he has spotted the new Taylormade stealth driver, and so it begins.
Money is very personal so when someone criticizes your use of money it can feel like a personal attack, the accusation feels like it is about you, the core of you not just credit card swipes or receipts.
Ideally money should be a topic that is discussed openly and calmly in a relationship. No-one should feel like they are getting an allowance or in the dark about family finances, an imbalance in money power in a relationship will lead to trouble.
Start by making sure that both partners are on the same page about how money is spent and what is acceptable spending and what is not. Create a budget together and reconcile it from time to time to make sure you are both happy with it.
Plan TOGETHER, what you want to achieve in life, for your family, and if this seems overwhelming, then work with a Lifestyle Financial Planner who can assist you in building that plan and help you make decisions that will get you to where you want to be.
I know it sounds hard, but just start.
Dirk Groeneveld, Certified Financial Planner
t. 083 261 9287