What’s Your Money Relationship?

money relationship

Strange as it sounds we all have a relationship with money.  Think about it, it does make sense.  The world is about relationships and money is no exception. 

In fact, your relationship with money is the longest relationship you will have in your life!

Money is everywhere, we really can’t ‘opt out’ and say we want nothing to do with it.  Unless you want to be a hermit in deepest darkest Kazakstan and be self-sufficient.  Not my idea of fun.  Continue reading

Advertisements

A Case for Separate Bank Accounts?

money mentalist

In a TV documentary the other week, a new survey in the UK revealed that 34% of newly married couples had separate bank accounts.  Was this the secret to a long and happy marriage?

The other stats that came out of the survey; 80% of those that have been married over 30 years have joint accounts.

So what’s the secret?  Is there one?  We have covered this before, most recently in a video from our series, Couples and Money so let’s take a look at the fundamentals. Continue reading

Money Worries and Your Intelligence

money worriesWe know that when we have money worries, they can seem all consuming.  If we go to bed worrying about money, when we wake up the next morning and it’s the first thing that pops into our head.

So, it would seem logical that when we’re in this all-consuming money worries state that we find it hard to focus on other things.  And more importantly, we find it hard to make sound rational decisions about anything (not just money). Continue reading

Have a Happy Money Marriage

money marriage

A happy money marriage is a key ingredient to a happy marriage. We all want a live happily ever after with the person of our dreams. The intention is to spend the rest of our lives together. But the sad reality is that 70% – 80% of relationships that break up, blame money.

So, if you want a happy money marriage you need to talk about money and deal with money as a couple.

Here are a few tips for a happy money marriage.

Communicate about money

Continue reading

Not all Dollars are Created Equal

not all dollars

If you happen to have cash in your wallet right now, take out a note and have a look at it.  It’s just a piece of paper.  It has a picture of someone famous on it, a few words and a number.  That’s what money is. 

In real terms, it is a medium of exchange created because bartering got a bit tricky, e.g. how do you value your cow when you want to swop it for a sack of grain.  But, as you will see, not all dollars are equal!

Sounds all very rational doesn’t it and it kept the economists happy.  But the economists forgot a very important point.  We aren’t rational!  So, when we see the piece of paper with pictures and numbers on it, we see a lot more than a symbol to buy stuff.  We see all sorts of emotions and meanings and it’s different for men & women. Continue reading

We Are Not Rational!

not rational

Have you ever done something and then afterwards scratched your head and thought, “what on earth was I thinking!?”  Welcome to the world of being human.  We are not rational and despite our best intentions, there are going to be times when we do odd things.

So, what influences our decisions?  Well, there is a wealth of research into ‘Why We do Dumb Stuff’ – technically called Behavioural Economics.  As Dan Ariely (Prof of Psychology and Behavioral Economics at Duke University) says, “we’re Predictably Irrational!” Continue reading

Your Money Personality Affects Relationships

money personalities

Your ‘money personality’ is a behavioural pattern relating to your spending and saving. In a relationship it may appear your Money Personalities clash.  By understanding how opposing types can be complementary in a relationship, you will become a stronger team.

Your Money Personality is rarely just the one type.  The large majority of us are a blend of two and sometimes three.

At different times in your life and depending on circumstances, you will very likely see more than one money personality type in yourself and that’s quite natural. As a result, you’ll probably see a cross over between these – in other words, you can show parts of more than one money personality at the same time. Continue reading