Getting Your ‘Better Half’ Involved In The Finances
09 Feb 2016
Getting your spouse to be as excited about finances as you are may be a tall task. However, it is critically important that both parties get actively involved in the planning process. Here are a few tips you should consider when you are trying to convince your better half to be involved with your finances.
- Don’t pressure them: If at first you don’t succeed, instead of equating this with going to the dentist (I love my dentist, by the way!), try to focus on the benefits of setting up a plan. Make sure you focus on what’s in it for them
- Try to understand why they are putting this off:This may involve you becoming like a chameleon. You know your spouse as well as anyone, what motivates them, intimidates them, what gets them excited. Getting to the root of your spouse’s reluctance will pay huge dividends down the road. The first step will be the hardest.
- Bring in an outside party:When I try to tell my kids how to do something, they normally tune me out. Yet when a coach or teacher says the same thing, they are all ears. Sometimes it’s not what we say, it’s WHO says it. Bringing in an outside person, like a financial advisor, can take the pressure off you. Try signing up for a retirement class and go together. Anything you can do to inspire them may work.
- Reward yourself:Make sure you have the opportunity to enjoy small successes. Pay off a credit card, go out for dinner (pay cash), reach a goal amount in your 401K, or go to a movie. The point is to make this enjoyable, not painful.
Working towards a common goal should be fun.