Kelly Blodgett launched Money Gal Coaching with a goal of serving people who, like her, were burdened by debt. You can get her tips for paying down debt on a regular basis at Bring Me The News, in addition to the Money Gal Coaching website and Facebook page. In her words, these are tips and tricks that she used to pay off debt.
Sharing money with someone is hard! We are all different people, with different past experiences and different goals.
Study after study shows that the success of your finances, and your relationship, is heavily dependent on the amount of debt a couple has and how they communicate about money.
Money is the number one thing couples argue about and nearly 63% of all marriages start out in the red, with debt!
To lay on the unsurprising stats, the larger the debt amount, the more couples will say that money is an issue in their relationship. And nearly one-third of us have hid a purchase from a spouse, because that always helps, right?
But there is hope. We can do four simple things to help us improve our relationship with our spouse and the health of our finances.
- Decide on how you will share your money. Do you share everything? Do you split certain bills? Do you have a joint account? The options are endless but each person in the relationship needs to agree it’s fair.
- Create goals that you want to hit together. This will make saying no to certain purchases easier since there are common goals.
- Give each other grace. If someone goes over on spending in one area, a war doesn’t have to start. Have a conversation and find out what happened and do better next month.
- Check-in on a regular basis. It’s hard to know if you are following your plan if you never look at your transactions. Talk weekly to celebrate wins or identify areas of improvement.
Get in touch with Kelly from Money Gal Coaching
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