Financial Counselling for Couples: Sound
Principles Lead to Peace of Mind
Is Money Really the Root of All Evil?
Or, is it
possible that we sometimes just end up allowing our money problems to grow like
an out of control weed? Whatever your perspective, everyone has the ability to
properly manage their flow of income and outflow of expenses, by following a
well-crafted plan. This is even more important when combining two personal and
financial worlds, such as a personal relationship or marriage.
Financial counseling for couples is an effective tool to help reduce stress and
minimize disputes that can sometimes arise from the pressure of budgeting and
maintaining a household.
To help, we’ve
assembled some useful considerations to get you started.
Income vs. Money Management
Money management is a necessary activity, no matter the level of your household’s
income. Many people fall into the trap of assuming that their money problems
are a result of the amount of their income; further putting off the use
of tools and methods, thinking instead that they will earn their way out of the problem.
ability to earn money does not necessarily translate into effective money
management skills. Couples investing their time in learning how to make a
financial plan have a much better chance of staying together longer. (A University study found that couples with weekly money
disputes are 30% more likely to end up in divorce
than those having similar disputes a few times a month).
need to understand where you are now; a financial snap-shot of sorts. Just as
important as the numbers is how you feel about your financial situation and how
much household unrest is caused by money. When we can remove all emotional ties
to money, the task just becomes a task; simple in principle, but not always
easy to follow with every day discipline. The good news is that there are many
tools and practitioners to help ease the transition to becoming a master of managing
Software for Better Money Management
Most people let money flows manage them and remain reactive and ill prepared
for unexpected emergencies. Everyone is capable of sound money management; they
just need some help getting organized and maintaining an orderly process. Personal
financial budget software is a great tool to keep you focused and your budget right
on track. There are many free online budgeting software solutions to choose
from. Choose a platform that includes:
An easy-to-use budgeting tool Flexible online version
Goal setting Debt
Mortgage management Prepare
Personal cash flow statements Personal
net worth statement
Once you start
the process, you’ll immediately begin to feel relief. By taking control of your
money, you’ll learn how to save money for your goals and begin to literally
change your life. Within months of sticking to your new personalized budget
plan, you will find that money is no longer a mystery and that it no longer
manages you; you’re becoming a money master!
Money Management Coach
coach is like a professional money
therapist. Especially useful for couples, a money coach brings both of you
together, empowering you with better decisions and more effective money habits.
You’ll resolve financial disputes quicker and with less stress.
goal-setting software and money coaching, you’re on your way to peace of mind
and money mastery!