Relationships & Money Archives

18Feb 2022 by Elizabeth No Comments

Should You Have a Shared Account with Your Spouse? 7 Reasons Shared Accounts Are Better

There are a lot of great reasons to have separate accounts, but they are not for every relationship. In fact, I’d argue that most couples would be best with only shared accounts. Here are 7 reasons why. (Note that in this post I use the term “significant other” interchangeably with “spouse.” When I use the phrase “significant other” I really mean: extremely super significant other - such as a partner, spouse, or whichever term you use to describe the person you’ve made a commitment to spend the rest of your life with. By “significant other” I don’t mean “whatever person you’re randomly dating who you aren’t 100% sure about.”) 1. Having Separate Accounts is Against the Values that Relationships Are Built On What is a relationship built on? Trust, honesty,…

14Feb 2022 by Elizabeth No Comments

10 Ways Love Affects Your Money

Relationships & Money

It’s Valentine’s Day, which is always a good time to talk about relationships, love, and money. So how does love affect your money? Let me count the ways. (Yes, that’s an intentional reference to Elizabeth Barrett Browning's Sonnet 43 in case you need a love sonnet today). How Love Affects Your Money Whether your relationship is costing or saving you money, the impacts love can have on your finances can vary. Here are 10 ways love affects your money. 1. Costs of Dating Let’s start with the earliest stage of love, dating. We won’t lie. Dating can be costly. First, there are the costs of dates themselves, including drinks, dinner, shows, and weekends away. Even if you don’t pay for these, there are also indirect costs, such as the cost…

11Feb 2022 by Women's Money No Comments

Should You Have a Separate Bank Account from Your Spouse?

Popular, Relationships & Money

Dave Ramsey, who is a personal finance guru, argues strongly for a joint checking account. He explains that money becomes one when you enter a marriage and that you become fully a team. While I completely agree with being a team, sometimes it’s not always best to throw your money in one pot. This is such a taboo subject, but I find it so utterly important for women to know that they have options other than a joint checking account. A separate checking account may not be for everyone, because let’s face it, personal finance is personal, but let’s consider the pros. (more…)

28Jun 2017 by Women's Money No Comments

Money Talks. You Should, Too.

Budgeting, Goals / Taking Action, Miscellaneous, Money in Your 20s/30s/40s/50s/Retirement, Relationships & Money

I think we can all agree that talking about our finances is uncomfortable, especially if your finances are not in the best health. Fortunately, you do not need to broach this subject with everyone you meet. However you do need to be able to communicate with your significant other about money, especially in serious relationships. The 2016 Stress in America Report produced by the APA found that 64% of women and 57% of men reported money and family responsibility as one of their most significant stressors. Because money is such a huge source of stress for many people, couples need to talk about it. Ensuring that you and your partner are on the same page with how you spend money and what your individual situations are helps prevent future arguments and…

01Mar 2017 by Women's Money No Comments

Plan your Meals; Plan your Spending

Budgeting, Goals / Taking Action, Miscellaneous, Money in Your 20s/30s/40s/50s/Retirement, Relationships & Money, Take Action

Making food at home is an easy way to trim your spending, but it can often feel difficult to fit in cooking, and clean-up, within daily life. A few months ago, my boyfriend and I started meal planning to save money and eat healthier and so far, we’re achieving our goal. There are different kinds of meal planning. In one of the most popular methods, you plan and prepare every single meal for the week in one day. We chose to adapt this method slightly and only plan our meals for the week, but planning and preparing on the same day is very effective for many people. Here is some more information on the strategy, as well as a guide to help you start out. Because Sunday is our day…

04Feb 2017 by Women's Money No Comments

Romance on a Budget

Budgeting, Miscellaneous, Money in Your 20s/30s/40s/50s/Retirement, Relationships & Money

So Valentine’s Day is 10 days away and you still don’t have a gift for your significant other. Don’t worry, I’ve also been procrastinating, but we’re going to get through this together. I’ve compiled a list of low-budget gifts and dates to help us make Valentine’s a success on a budget. 1. Do-It-Yourself Date Rather than spending a bunch of money on a meal in a fancy restaurant, consider making a special meal at home. Set the mood with some candles, some flowers, music of choice, and maybe a tablecloth. It will cost you money for ingredients and some time in cooking, but you don’t have to deal with crowds, you don’t have to tip, and you already have the best seat in the house reserved. If you don’t have time…

01Feb 2017 by Women's Money No Comments

A Rose on Any Other Day

Budgeting, Miscellaneous, Money in Your 20s/30s/40s/50s/Retirement, Relationships & Money

If you’ve recently visited a store, you know Valentine’s Day is almost here. I’m a huge romantic sap and love the idea of Valentine’s Day, but the hype is a little out of control. Yes, chocolate is delicious and roses are pretty, but they are also expensive extras. While it is definitely important to take time to appreciate your significant other, and Valentine’s Day is a good day to do so, it’s important not to break the bank in the process.Valentine’s Day is on a Tuesday this year. My boyfriend and I both work all day, and after a long day at work I'm about as romantic as a bag of potato chips. So we’ve decided to wait and celebrate a few days after when it fits our schedule better.…

03Jan 2017 by Women's Money No Comments

You’re worth more than you know #WMWeek17 @SDMInvest

#WMWeek17, Miscellaneous, Money in Your 20s/30s/40s/50s/Retirement, Relationships & Money, Women's Money Week

This time of year can bring about a lot of anxiety and feelings of earning inadequacies. When we look back over our previous year, we may feel that we didn’t make as much money based on our perceived worth. Your feelings are very real and you shouldn’t go about the new year being unhappy, angry or frustrated about your earnings. Making more money in 2017 can be as simple as 1-2-3, if you understand how you earn your money. Imagine if you lost your job and your income suddenly stopped. How would you generate income? While the well may have run dry from your labor (job), your “assets”, “resources”, and your “potential income” are still there. Most people focus on the “labor” they provided at a job, but forget they got…

03Jan 2017 by Women's Money No Comments

How To Stop Procrastinating Emotionally & Have The “Money Talk” With Your S.O. #WMWeek17 @maggiegermano

#WMWeek17, Kids and Money, Money in Your 20s/30s/40s/50s/Retirement, Relationships & Money, Saving & Investing, Women's Money Week

I’m sure you’ve heard it before, but money is reported to be one of the top reasons for relationship discord. And no, it’s not due to the lack of money. It’s the lack of compatibility and communication about money. But it’s not hopeless. There are constructive ways to have these conversations while making sure you’re being heard and understood by your partner.Let me back up and explain why I, of all people, am giving you advice about how to have one of the hardest conversations possible with your SO. I’ve worked for years as a Certified Financial Education Instructor and financial coach for women. My life’s mission is to give women the support and the tools that they need to take control of their money, break the taboo of discussing…

03Jan 2017 by Women's Money No Comments

How Caribbean Millennial Women Can Build A Solid Financial Foundation While Supporting Extended Family #WMWeek17 @melisaboutin

#WMWeek17, Money in Your 20s/30s/40s/50s/Retirement, Relationships & Money, Women's Money Week