Table of Contents What Is A Financial Coach For Couples When it comes to financial planning, most couples find themselves in one of two positions: either they are on the same page, or they are not. If you and your partner are on the same page, congratulations! You’re ahead of the curve. But if you’re …
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Finding your why for personal finance is an important step in setting and achieving financial goals. To begin, it’s important to think about what motivates you as an individual when it comes to money…
If you’re like many couples, you may find yourselves guilty of emotional spending from time to time. You know, when you buy things that you don’t really need…but just feel good in the moment? It’s a tough habit to break, but luckily there are ways to do it.
If you and your partner are in agreement that you want to be on the same page when it comes to finances, then read this article on Inspire My Money. We offer financial coaching for couples that will help you get on track with your finances and work
Do you think that budgeting is the only solution to improving your financial situation? Here’s 4 reasons why you should NEVER use a budget:
1. Budgets don’t address emotions
2. Time
3. Budgets are like diets
4. You inevitably revert back to old habits
Combining marriage and debt often leads to an atmosphere of stress and anxiety. But this doesn’t need to be your reality. By working together, you can effectively tackle any debts that you or your spouse have accrued. 1. Create a list of all of your debts. 2. Define combined financial goals. 3. Commit to achieving those goals. 4. Set a deadline. 5. Create a financial plan. 6. Evaluate payoff options. 7. Talk regularly about money with your spouse. 8. Don’t assign blame, instead work towards a solution.
Having a goal without a clear and defined purpose is really just a dream. Assign a monetary value for each goal and the time frame within which you want to achieve it. Make your goals realistic because they’ll help you stay on track and inspired throughout the journey. It’s critical to separate short-term (less than 3 years to completion) and long-term goals.
Make your money saving goals a habit. Many people only put money into savings that is “left over” at the end of the month. Pay yourself first and you will make incredible progress towards your goals.
Many couples struggle to have positive conversations about money — too often the discussions are derailed by negative responses. People react adversely in four ways to financial discussions: withdrawing, blaming, escalating, and dismissing.
When you work together to identify and implement solutions, you’ll not only feel closer to each other, but your financial situation will improve dramatically.
Money was something that I despised talking about and I became an expert at avoiding those discussions. When we finally sat down and talked about it, my husband and I realized that even though we wanted the same fundamental things, we were on completely different paths in our relationship because we hadn’t been discussing finances with each other. Here are ten suggestions for having a financial conversation with your partner.
A vision board is a collage of words and images that symbolize your ultimate life vision. Meditate to help you see your five-year-future self. Many very successful people use vision boards to achieve great things in their lives. Start by writing down some one-year goals in areas like family, your career, health, finance, and travel. Take time to meditate on a regular basis and imagine how it would feel if you had already accomplished these things.