When my wife and I joined households 11 years ago, we combined our kitchen stuff, our furniture, our linens and just about everything else. The one thing we didn't combine? Our money.
When it comes to money, she does her thing and I do mine. About the only time our money meets is on our joint tax return.
This is the system that works for us, although it likely wouldn't work for everyone. That's the thing with money and relationships; there's no right answer. Anyone who tells you there's only one correct way to mix money and marriage, and there are plenty of "experts" who do, is just plain wrong. The one thing that's universally true is that money secrets are bad. My wife and I don't combine our money, but we do discuss it. Often.
Whether you've been together for 30 months or 30 years, avoiding talking money puts your relationship at risk. This is especially true if you combine your finances and have different money "personalities" (spender or borrower vs saver or investor) and even more critical if finances are tight.
To nobody's surprise, money routinely surveys as a major source of stress.
So when, and exactly how, can we discuss money with our significant others without causing friction? How do we get on the same page and stay there? Or are differences about money just something couples have to learn to live with?
In this week's "Money" podcast, we're going to find answers to these questions, as well as many more. Our guest is best-selling author and award-winning speaker Tarra Jackson, also known as Madame Money.
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