How couples can achieve more fairness in their household finances

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The successful financial partnership includes more than just dividing money. They need equality in financial knowledge and decision-making.

“What I seek to create justice and equality within households when it comes to finances and money,” said Doug Bonotti and the founder of bone wealth. “What we strive here is everyone knows that everyone knows the minimum where your assets are to know what income is created by what households are.”

The bodies and his wife are in the process of writing “Together money” A book that will help couples have meaningful and effective financial conversations.

Just offering tips on joint accounts, they aim to help couples navigate the five most important areas of financial partnership. Financial upbringing, money errors and risk tolerance.

After all, healthier conversations about money lead to a stronger relationship, more happy families and better results for everyone, the bonez said.

“Money is one of these games. It never ends, “he said. “You play it all your life and it is constantly changing and constantly develops, isn’t it? It’s complicated. “

In Podcast, the bonefat stressed that it is good to manage the daily finances of the day, the two partners must be actively involved in achieving financial equality in relations. This includes the location of all accounts, having financial programs and accounts, conducting regular inspections to review the net value and the quantitative and qualitative parties of money management.

“There is no right or wrong way, to what extent does the division of labor go?” He said. “But it would be completely unacceptable [my wife] You don’t know where the accounts are located, how to access them, such as our net value, such as costs. “

The bone said he and his wife sat down to go to finance on a quarterly basis.

“We pass to a net worth, we look at how we do, and we actually have a real conversation behind those numbers,” he said. “Numbers only tell the story. What about our goals? What good did we do this year? We feel free to spend. “

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These conversations are important because it is paid to strive for the goals together. Moreover, without making financial matters, do not risk your relationship.

“At the moment, it’s almost cliche that most of the relationship does not work because of something financially connected.”

To start couples, the bone offered several tips to build stronger financial teamwork for couples.

• Make sure the two partners have full access to all financial accounts and programs, regardless of who runs daily money management.

• Plan regular financial checks to review net value and costs. The birch was advised to do this quarter.

• During these meetings, discuss both the quantitative and qualitative aspects of your finances. This means talking about both the numbers and feelings on your money and goals.

• Create equality in your financial knowledge. The two partners need to know.

  • Where all accounts are.

  • How much income is created?

  • What are the cost of household?

  • How to access all financial information?

• Remember that dividing the financial tasks is good, but both partners need complete visibility and understanding of the common financial image.

Boneptth also noted that general resources can help couples follow the finances of households. For example, the use of joint stock financial programs and online tools creates transparency. Also consider working with a financial adviser to establish a scope of money discussions.

“We really increase the probability that you are going to hit your goals together by gaining all this. “This is a team game you play.”

Robert Powell of Robert Powell, a pension expert and financial pedagogue, allows you to plan your future on Tuesday every Tuesday RecruitmentA number you can find more episodes on us Video node Or view on your Preferred streaming serviceA number