Talking about personal finances with your spouse or partner can be difficult. 68% of people engaged to be married have negative attitudes about discussing money with their soon-to- be spouse1.
And making financial decisions as a couple is different than doing it on your own. Money has many meanings, and as a partnership it is important to identify how you think and feel about money and that this may be unlike how your spouse or partner view his or her financial life. 50% of marriages end in divorce, with financial stress cited as one of the leading causes2. Effectively having financial conversations and planning your financial life together can be a wonderful defense.
At Crescendo Wealth Management, we practice Couple Friendly Advising. What does this mean?
- Both spouses or partners are actively part of the financial planning process.
- We listen and balance the needs, goals and dreams of both partners.
- We are dedicated to helping clients openly talk about their finances and their feelings associated with money.
- Our financial planning practice is built on education. We work to make sure our clients understand their financial picture and financial options, so they can jointly make decisions that are best for their family.
Are you interested in meeting with a couple-friendly advisor? Email us at [email protected] to learn more.
1 National Foundation for Credit Counseling. 2013.
2 Burns Kingsbury, Kathleen. 2014. How to Give Financial Advice to Couples. McGraw Hill Education.