What is your financial strategy? If you have to think for more than a couple of seconds before answering that question, you might not have one. That's okay — plenty of us could use some help with our finances. While it can be tempting to run from information about money when you're struggling to get your act together financially, you're better off just digging in and starting to read. This website is a great starting point. Here, we share informative blog posts about all sorts of financial topics. Learn about budgeting, saving, applying for a credit card, spending responsibly, and so forth. Before long, you will have a financial plan — and a good one, at that!
If you've recently gotten married, and you're already facing financial problems, don't hire a marriage counselor just yet. Instead, hire a financial coach to help you through the rough patch. Getting married and combining assets can create a stressful situation, especially when you're both learning how to work together. Unfortunately, without the right type of help, your financial problems may prove too difficult to overcome, which can spell disaster for your marriage. Here are four ways that a couples' money management coach can help you learn how to manage your money as a team.
1. Use Your Income Productively
If you and your spouse have a good income, but you're not sure what to do with it, you need a money management coach. With the right coaching, you and your spouse can put your income to work for you, which means you can save for things like a new house, continued education, or even your eventual retirement. Best of all, you'll learn financial tips that will grow with you and your spouse.
2. Learn How to Develop a Partnership
If you and your spouse have lived independent lifestyles prior to marriage, forming a financial partnership may not be such an easy task, especially if you have differing ideas on how to use your income. Unfortunately, if you don't have the right tools, you may never learn how to develop an effective partnership where your finances are concerned. That's where your couples' money management coach comes into the picture. They'll help you develop the tools you'll need to develop a strong financial partnership with your spouse.
3. Identify Solid Investment Options
If you and your spouse have differing ideas on how to invest your money, you're going to need some help along the way. Getting started on a marital investment portfolio can be difficult, especially when you have different goals in mind. One of the benefits of working with a couples' money management coach is that they'll work to help you identify solid investment options that will work for you.
4. Avoid Financial Pitfalls
Finally, if you're just starting out in your marriage, you want to avoid the financial pitfalls that can undermine your relationship. Extravagant purchases, credit card debt, and poor money management skills can destroy a marriage. However, a couples' money management coach can provide you with the training you and your spouse need to avoid financial pitfalls, so you remain financially strong.Share
6 February 2020