FInancial Counseling

Could You Benefit From Couples’ Financial Counseling?

Many couples’ fights revolve around money. Discussing finances in counseling is not a substitute for using a financial planner, but can offer something different or complementary. You won’t be told where to invest your money, but you may be asked how each of your spending habits impacts your relationship. Do you have similar financial goals? Does the way you live your lives and spend your money match those financial goals? Also, read about how financial secrets could destroy your relationship.

Some couples suffer from financial infidelity, where for example, one partner opens a secret account. Such behavior can destroy trust as well as budgets. Couples close to retirement may want to discuss counseling related to what life will be like in retirement, and what each of you expect.

Some financial problems are a result of addiction. Gambling addiction is one such problem that can destroy a couple’s finances. The gambling problem or other addiction needs to be treated before the financial impact can be analyzed.

Some fights center around what each partner can spend without discussing it first. For some, it might be buying a toy for their kids, and for others, it might be buying a car. Whatever the situation is, couples should have an understanding of what each person can spend on their own without having to discuss it first.

There is also the question of how to share finances. Are finances shared equally in joint accounts? Does the couple have separate accounts? How are bills divided up if there is a blended family and one person has more biological children?

There is a lot to discuss when it comes to couples and finances. There may not be an issue during the early phases of the relationship where lives are more separate. As couples become more committed, there may be more of a need for financial counseling. Talking about finances can also be important during pre marriage counseling.

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