I'm going to confess something I've only told a handful of people up until now...about 7 years into married life, my marriage almost ended. I had gotten a statement from an investment account that had been started for us when we got married. The $10,000 that should have been there was gone. Entirely. I thought there was a mistake, but upon calling them, it turned out that all the withdrawals had been made by my husband. You can imagine the conversation that night was a little...heated. And it got worse. Not only had he drained our savings, he had used private credit cards and gone tens of thousands of dollars in debt. We had an almost 2 year old, I was due to give birth to our second child in a few months, and we were $50,000 in debt with no savings. It was NOT pretty.
It was literally only our mutual commitment to the idea that divorce is Biblical wrong that held our marriage together at a time when I felt like I could not trust my husband at all. God is strong in our weakness, and I learned that firsthand through that trial. But I also learned that my husband and I have very, VERY different ideas about money. I only wish The 5 Money Personalities had been written back then--it might have saved us from a lot of strife.
The 5 Money Personalities was written by Scott and Bethany Palmer, The Money Couple, who are both financial planners and regulars on national TV and radio speaking about the topic of "love and money". They have dedicated their lives to helping couples use the 5 Money Personalities to bring their love and their money personalities together in a way that makes the relationship better, stronger, and healthier.
The 5 Money Personalities opens with a 90 day challenge...read this book and "make it happen" by working with your spouse for 90 days on your money relationship. They talk about how marriage relationships are deeply affected by each party's money personality. After all, what couple do you know that has never argued about money? They describe it this way:
This book isn't about how to create a balanced budget or reduce your mortgage--they contend that there are plenty of other resources out there to teach that. This book teaches you how to understand your relationship with money, your "money personality", and then how to reconcile your spouse's money personality with your own for the betterment of your marriage and your mutual money management.
So what are my thoughts on The 5 Money Personalities? I wish this book had been around when my husband and I were married 20 years ago, but it's never too late to make your relationship better. I have not had this book in my possession for anywhere close to 90 days, but I can tell already it is life changing. I just have to convince my husband that this is a journey he wants to take with me :-). I think young people considering marriage should have to read this before they get married so that they can begin on solid financial ground. I can't wait to be able to work through this with my husband, and I fully intend for my children to use it in the future! If you've ever disagreed with your spouse over how to manage or spend money, you need this book.
So where can you get more information? Check out the links below.
Website: http://themoneycouple.com --includes a FREE Money Personality Profile Facebook: https://www.facebook.com/TheMoneyCouple Twitter: https://twitter.com/themoneycouple YouTube: http://www.youtube.com/themoneycouple
The book is just being released, but is currently available from Amazon, Barnes and Noble, and CBD. The full retail is $15.99, but it's roughly $11 on Amazon. But one lucky reader can win a copy for FREE, just enter my giveaway below!
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Disclosure of Material Connection: I received one or more of the products or services mentioned above for free in hope that I would mention it on my blog. Regardless, I only recommend products or services I use personally and believe will be good for my readers. I am disclosing this in accordance with the Federal Trade Commission's 16 CFR, Part 255: "Guides Concerning the Use of Endorsements and Testimonials in Advertising".