Living The Life: Love and Money
(WJBK) - This is Living the Life, where we discuss the good and the bad of our daily grind, and hopefully find a way to help each other through it. This segment's topic is love and money. In a report out just two weeks ago, with multiple contributors, the report from DivorceSource.com says married couples who argue about money weekly are 30 percent more likely to divorce.
VIDEO: Deena Centofanti, Anqunette Jamison and Lee Thomas discuss how finances can be handled in relationships. Guest Dr. Howard Belkin also joins in the discussion in Part Two. You can watch the discussions in the video player above, and catch a Facebook live chat below.
MONEY MISTAKES
1. Not talking about finances
2.Thinking you can buy love
3. Ignoring conflicting spending habits
4. Hiding purchases
5. Failing to recognize that money matters carry emotional weight
Understand what spending means to each of you. For savers, money represents security so when unexpected spending happens there's a loss of security which can cause anxiety and sometimes anger. For spenders, spending is the result of the money they worked hard to earn. Often, spending represents love with the things they buy for others.
No one likes being treated like a child. So if you're a saver, stop badgering your spouse when they spend. Many people don't come clean about their spending because they dread "the lecture."
Establish yours, mine and ours account. The yours and mine are personal. The ours is for household spending. No more lectures; the discussions should be about household spending.