The 6 Financial Mistakes Couples Make
I just read an article over at ‘Smart Money‘ about how couples often make similar mistakes in regards to their finances. It brings up many good points and issues.
“Most of us don’t know how to talk about money,” says Mary Claire Allvine, a certified financial planner (CFP) and co-author of “The Family CFO: The Couple’s Business Plan for Love and Money.”
“People tend to be emotional and reactive about money, not strategic,” she says.
When emotions run high, people tend to make fiscal mistakes. Allvine’s solution: Approach family finances as if you were running a business. “If you put a business metaphor into the picture, you’d be surprised how much more methodical people are.”
In this article she talks about 6 common pitfalls that could arise if issues are not properly resolved.
- Merging finances
- Controlling debt
- Spending habits
- Investing Wisely
- Money Secrets
- Emergency Planning
Give the article a read, I think that you will find it full of good ideas and perspective for you.