How long do discussions about money in your home last before one partner, parent or child storms out in a huff?
We share our bodies and intimate emotions yet we are terrified to share our feelings and thoughts about money. Secret accounts, assets tucked away, clothes at the back of the wardrobe that eventually get brought out and we tell our partner that “we bought it ages ago”, “it was on sale”, “it was given to me by a friend” and many other excuses to avoid admitting that we had a spending splurge.
Why is it so hard to say “no” to our children’s demands for designer labels, new gadgets and money for entertainment?
What is it we are so afraid of? Is it a lack of trust that our partner will blow all the money or that our children won’t love us?
Relationships are hard and most of those that don’t survive, fail because of money.
What frequently happens in a relationship when one partner is good with money, the other partner abdicates all responsibility for managing the finances and either gets an allowance or has no access to money at all. The person with the money has the power. Instead of working together the relationship becomes a power struggle. Resentment builds, respect is lost and the partners become secretive and uncommunicative.
If one partner has chosen to stay at home and look after the children, the breadwinner may well claim that as s/he is the earner, they have the right to determine how the money is spent. The stay at home partner often feels bad about not bringing in money and resents having to ask for personal money to buy gifts and other necessities.
Does this sound familiar?
I tick many of these boxes and as I mentioned in my previous post I am deeply conflicted about money issues. This is why I am really looking forward to doing the 5 week Wealthy Ever After Course which is an online course that consists of videos, useful budgeting and debt elimination tools, and forums to get personal help.
Having watched the introductory video I am looking forward to covering the following topics.
1. Power of Partnership - Focusing on learning to talk about money openly and honestly with your partner so that together you can build financial security.
2. Power of Prosperity - Changing my mindset which has always been “look after others and not myself” to “pay myself first”. This is a huge issue for me both in business and personal relationships. Just getting this right will make it worth it.
3. Profit - making a profit in the home finances. Businesses have to make a profit to survive and so do our relationships. Gary, the course presenter mentioned how “love can cause debt”. Think about it. It certainly resonates with me.
4. Assets - growing assets. Building a share and/or property portfolio wisely. There are so many get rich quick schemes around, which ones are safe and which are not.
5. Plan - Using a 30 day plan each month to monitor your finances.
For those who are lucky enough to get a bonus at this time of year, this could be the best way to spend yours. The course offers a money back guarantee if you are not happy with what you are learning.
If you entering a new relationship or planning to get married, understanding how your joing finances will work is crucial.
Why not take a bit of time to watch the introductory video and make up your mind for yourself?
If you would like to follow my journey please fill in your name and e-mail address below and I will send you each post as I write it. I look forward to your feedback.
The initial videos for this course are free. Later modules will be charged for and should you sign up to do these and have accessed the course via the links I have provided, I will earn a commission.
However, the blog posts that I write will not be influenced by my commission earning possibilities. I will write about the course honestly as this is something close to my heart. There are so many of us who struggle with money issues.