Over 2,000 adults responded to an online survey conducted by CreditCard.com, which found that almost 30% of Americans had financially cheated on their partners. Among the five categories, spending more than their partner/spouse would be okay with accounts for 15% of the survey (source: Creditcard.com). Consequently, you may feel embarrassed, shamed, even resentment. Money is a taboo topic for many people, especially in their relationships because they don’t know how to talk about it well.
It is perfectly fine for couples to have separate bank accounts, or they can have a mixture of separate and shared accounts. Many people I know have two separate accounts and a joint account for vacations for example. This blended solution works perfectly for us because we pull resources together to pay mortgage and utility bills. In the meantime, our separate accounts allow us to take care of our personal expenses after joint expenses, like taking my Flamenco class. The key is to communicate openly and honestly, and check out each other’s financial situation regularly so both are on the same page.
Money is a reflection of our inner lives, showing us deeper areas that need to change, grow, or shift. It is crucial to know what makes your spouse/ partner unique by cracking his /her money code when it comes to money in order to understand the emotions, beliefs, and behaviors that drive you and work together. Knowing your and your loved one’s money archetype gives you the ability to help you eliminate a lot of issues regarding money, to create understanding and connection in your personal relationships, and to help you move forward together with creating and keeping more money.
TAKE YOUR MONEY TYPE QUIZ today and book a free consultation to see how I can help you!