Communication

Tackling Income Disparity within Couples

Nearly 30% of married women in the U.S. now earn more than their husbands. This reversal of the traditional norm of male breadwinners can lead to conflict, depression, and downright awkwardness, as both The New York Times and The Huffington Post examined this month in worthwhile articles. But the reality is any substantial income disparity within couples — regardless of gender — invites friction. Here’s how couples with an income disparity can develop a more unified front for their finances:

Avoiding Financial Strife: 6 Principles for Couples

Money touches all aspects of our lives. It has the power to bring us great joy as well as ruin. The topic of money implicates the full spectrum of emotion,  so it’s no wonder money causes more marital conflict than perhaps anything else. Learning to wisely manage money with a partner is something not taught to most of us, let alone modeled for us in a healthy way.

Putting Everything on the Table

Quick: what’s the number one thing you’ll spend money on, no questions asked? When discussing spending habits with clients, I often hear “Oh, that’s my thing.” That’s code for: “That’s an untouchable expense. Don’t ask me to change.” Be wary of building a sacred fence around a particular area of spending, which can lead to debt or conflict with one’s partner over expenses.