As a little girl, I always imagined Prince Charming’s arrival would be exactly like the Disney movies. There would be ball gowns, chariots, attentive servants – our happy ever after looked embarrassingly like the prom. As a questionably mature 20-something, I just hoped he’d show up with his own 401k and a checkbook at least as balanced as mine. When he finally made his appearance, my Mr. Right managed to split the difference … he had financial stability and won my heart with his thoughtfulness. But that middle ground – somewhere between responsible and stingy – is a fine line to waltz when you’re dating. For tips on dating a man whose grip on his wallet is tighter than yours on the remote during the season finale of “The Real Housewives of New Jersey,” I consulted Toni Coleman, psychotherapist, dating coach and founder of Consum-mate.com. Keep reading »
He found the receipt for the Manolos you blew half a paycheck on, and the resulting confrontation wasn’t pretty. You called him a penny-pinching tightwad. He said you’re wasteful and irresponsible. Is this relationship doomed? And are we really fighting about high heels, or is there something deeper going on?
According to Terri Orbuch, Ph.D., relationship expert and host of “The Love Doctor,” a popular radio show, seven out of 10 couples report that money causes tension in their relationship. She reports that in the early years of a relationship, money is the number one issue of conflict. Keep reading »
Your honeymoon bags are unpacked and your tan is starting to fade. He’s getting used to picking up Tampax at the grocery store, and you’re getting used to picking up his toenail clippings from the bathroom floor. Hello, real life. It’s time for the next challenge: combining finances.
Financial experts agree that because money-related issues cause the most friction among couples, the best thing a new couple can do is bare all when discussing money. We consulted Stacy Johnson, financial expert and author of Life or Debt, for some specific advice on how to let go of a lifetime of going dutch, and embrace creating a budget for two. Keep reading »
Are you and your love shopping for a puppy? Relocating to a new city, so you can finally be together? Apartment hunting for two? Expecting some permanent bling on your left hand soon? If the answer to any of these questions is yes, then grab your dude and two Venti lattes and get comfy on the nearest park bench. You two need to spend some time discussing the “m-word.” But tell him not to sweat it — we’re not talking marriage. First, it’s all about money. Keep reading »
You’ve discovered your union is more Ben and J. Lo than Ben and J-Gar. Some things just weren’t meant to be. Luckily for you, making a few dumb decisions on love doesn’t mean you — or your finances — are doomed for all eternity. As long as you’re smart enough to avoid a major financial setback during your breakup (and, of course, avoid making “Gigli 2”), you’ll emerge a little heartbroken but with a bank account as strong as ever. Here’s how to cover your “ass-ets” when you’re breaking up. Keep reading »
When my husband asked me to marry him, I didn’t hesitate before saying yes. But when he first suggested that we open a joint checking account, I froze. I was thrilled to give up my single status … but signing over my financial independence? That was a completely different proposal.
There are as many approaches to shared finances as there are individuals sharing them, so the process of deciding whether or not to open an account with your partner can be overwhelming. To help you make the right choice, I asked Dr. Terri Orbuch, Ph.D. and author of 5 Simple Steps to Take Your Marriage from Good to Great, and Stacy Johnson, author of Life of Debt 2010: A New Path to Financial Freedom, for advice. Here’s how they advise going about making the “To combine, or not to combine?” call. Keep reading »