3 Habits to Grow Your Wealth and Strengthen Your Marriage
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In honor of International Women's Day 2018, over 40 fantastic female money and business bloggers have come together for the #WomenRockMoney Movement to share their best financial advice for women!
3 Crucial Money Habits to Grow Your Wealth and Relationship
Since this is couple money my financial tip for #WomenRocksMoney is about habits to grow your wealth and strengthen your marriage.
Money can be a huge source of stress, but the root of fights typically go much deeper than the numbers.
Here are three crucial keys to develop empower you, your finances, and relationship.
Have Regular Money Chats
Now that seems a little daunting for some or kind of boring for others but this is something that's really helped us.
I'm a huge fan of money dates, where you're in a relaxing and low key environment. Maybe you guys go out or you're just in the backyard relaxing with a glass of wine by the firepit.
Wherever and however you have your money date, you want to make sure you look at the goals you've created together (your WHY) and then review your numbers.
Knowing your budget, your monthly cash flow, and net worth is smart. There are plenty of tools that can help you like Personal Capital, Mint, and Tiller.
You can find the best option for you in my free toolkit guide.
With money dates, you're setting aside time to look at things and make sure you're on the same page.
If there is a bump in life (and that happens!) you can come up with a plan to fix it while it's small instead of dealing with a huge mess.
Create a Winning Financial System
The next one is creating a financial system that plays to each of your strengths.
Typically in a marriage, one might be the go-to person with the numbers.
It could be you or your spouse but that does not mean that the person makes the plan. You BOTH work on your budget together.
Talk about this on your money dates. What are your strengths?
Maybe you're earning more and your career trajectory has higher earning potential.
You could be great with negotiations and have a knack for lowering expenses. Awesome! Have your financial system reflect your relationship.
Respect Each Other's Contributions
I've had different couples on the podcast where maybe one spouse earns more income than the other or maybe one is staying home with the kids. Cool.
Establish what you want to do and why and make sure you're respected and appreciated for your contribution.
Some couples think that income equals input meaning. That is extremely TOXIC in a relationship and finances.
I was rereading and Millionaire Next Door and the mindset of those households was about winning at offense and defense.
One was earning a significant portion of income (maybe all), but both spouses were appreciated.
So in your relationship talk about this.
Your Take on Money and Relationships
So I hope these three tips help you not only strengthen your finances but help you build confidence and strengthen your marriage.
How do you two handle your finances? Do you feel empowered in your relationship?
If you want to get more information about how you can be empowered with your finances please check out the other post with #WomenRockMoney Movement.
Special thanks to Chelsea from Mama Fish Saves for organizing this!
I’m realizing that the way to best have these “money dates” with my husband are to focus on the WHY. He’s less interested in the nitty gritty, but getting him fully onboard with the why has been a game changer.
Same here Angela – talking about that WHY is the focus on our dates too!
It also makes the reviewing the numbers less stress and (dare I say) fun lol 🙂