Marriages financial minefields – The Deming Headlight

Our Comment by J. David Lewis – This article points to the importance of good financial communication within couples.  One of the things Resource Advisory Services has always tried to facilitate is improvement of theses communications.  Preparing regular Quarterly Reports that describes the current state of each family’s resources, along with our thoughts on ways to improve the management, gives information that enhances these discussions.  Our reports are addressed to both members of each couple.  Most couples have asked for each individual to receive a separate copy by email.  They get to see the results of financial decisions and events independently.  We find that couples seem to develop better common understanding of their circumstance as this foundation of accurate information works its way into the culture of the family.

Marriages financial minefields
By Jason Alderman
For the HeadlightPosted: 10/07/2010 12:00:00 AM MDT
 
“As with all challenges in a marriage, often what starts as a small issue can fester and grow into a large problem, given enough time. Its not surprising that after being together a few years, some couples realize that the financial quirks they initially found amusing or simply ignored in their spouse now dominate their marital disagreements. In fact, money issues tend to top the reasons for divorce.
 
If youre having financial difficulties, long before they escalate step back and examine how and when you and your spouse discuss — or dont discuss — your financial situation, and explore ways to ease the tension.”
 
Read Mr. Alderman’s recommendations via Marriages financial minefields – The Deming Headlight.
 

Contact J. David Lewis directly with david.lewis@resourceadv.com or share your thoughts on this topic below. He founded Resource Advisory Services in 1985.  National Association of Personal Financial Advisors (NAPFA) was formed only a few years before. Lewis became a NAPFA-Registered Financial Advisor in 1986.  He is a passionate advocate for fiduciary, fee-only financial planning and has been associated with financial services since childhood in a banking family. 

 

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