The 5 Money Personalities
I have been, or can be if you click on a link and make a purchase, compensated via a cash payment, gift, or something else of value for writing this post. Regardless, I only recommend products or services I use personally and believe will be good for my readers.
Back when we were preparing for marriage, we had some cursory discussions in our “pre-Cana Classes” that had us considering finances as a couple. Like many, we were loathe to delve too deep into that area at the time. Love conquers all mentality, ya’ know? If only we’d had a book like The 5 Money Personalities: Speaking the Same Love and Money Language at the time. I’m sure it would have been an eye opener and might have helped a few disagreements over the years.
About The 5 Money Personalities
The hidden key to a healthy relationship is not just managing money but understanding how the other approaches money.
Every couple argues about money. It doesn’t matter if you’ve been married for 40 years or dating for 4 months, money touches every decision you make as a couple—from the $5 cup of coffee to the $50,000 car. And when the two of you don’t see eye-to-eye on how much to spend or how much to save, that’s when arguments turn into ugly toxic fights that leave both persons feeling hurt and angry. It’s why money has become the #1 cause of divorce in the U.S. Obviously, something needs to change. The reason this crisis has not been addressed is because it has never been identified, defined, or given a name. Scott and Bethany Palmer, aka “The Money Couple,” have identified and defined this problem and offer concrete solutions to fix it.
Once you know your Money Personality, you can get to the root of money arguments and start really working together. You’ll discover what has an impact on your loved one’s money decisions, and you’ll learn how to talk about money in a way that’s actually fun! You’ll figure out how to put an end to money secrets and lies once and for all.
It’s not just about money management, and it’s definitely not just about overcoming debt. It is a whole new way of living that will change everything in your relationship. Tens of thousands have already been transformed. Are you ready?
About Scott & Bethany Palmer
“The Money Couple”, have dedicated their lives to helping other strengthen their relationships with the 5 Money Personalities. With 43 years of combined financial planning experience, they launched “The Money Couple” and are regulars on national TV and radio and speak internationally about love and money. Scott and Bethany enjoy an active lifestyle in Colorado with their two young sons, Cole and Cade.
Website: http://themoneycouple.com
Facebook: https://www.facebook.com/TheMoneyCouple
Twitter: https://twitter.com/themoneycouple
My Thoughts about The 5 Money Personalities
This title is one I’d highly recommend to any couple, whether already married or considering marriage. Finances can be a serious source of stress in life and relationships and I truly believe it is easier to live together when you are on the same page.
As Scott and Bethany point out in this book, you can have a great budget laid out for you to get out of debt or achieve a financial goal. But, when you and your spouse approach things so completely differently when it comes to money, it can seal the fate of a marriage. They even have a free quiz on The Money Couple website so you and your spouse can see which personalities are driving you. While I had a good idea where I’d place myself from reading the book’s descriptions, I took the online quiz and got these results:
Even back during those pre-Cana classes, I knew that we had different opinions about money and how it should be handled. I had adopted my father’s desire to create a good sized nest egg for emergencies and delay buying something until later. Hubby wasn’t going into debt for his purchases, but he also didn’t have the nest egg going when we were dating. Somehow we just figured that it would all work out after marriage.
Most of the time, we haven’t had any significant battles over spending money. But, one stumbling block we had was establishing what constitutes a ‘big’ ticket item that should be agreed upon by both parties. I think we’ve finally decided that even a great deal that’s just a few hundred dollars should be treated in that category. Otherwise, we could both ‘see’ availability of resources and spend more than what is truly available. Back when I first quit working outside of the home on a regular basis, money was tight enough that it could have had serious repercussions on our credit. (Or maybe I’m the only person’s who’s had to decide which bills get paid in full in a given month?)
I won’t share which personalities fit my spouse, but will say that knowing my own results helps me to better understand his thought process and motivation. I will say that I’m glad he’s most likely NOT a risk taker when it comes to money. I hope to have him take the online quiz soon to see if my guess is correct and maybe further open the discussion about how we manage our resources as a couple so neither of us get frustrated so easily at the other.
Win a Copy of The 5 Money Personalities
One lucky blog reader (US or Canada) will win their own copy of this title. Entries are accepted through the Giveaway Tools form below until February 3rd.
How to YOU handle finances in your house?
Disclaimer ~ I was provided with a copy of the title to facilitate a review. No monetary compensation occurred and all opinions are my own.
My husband and I are starting a new business and this book will really help us! We would like to read all the advice on finacial possibilities for ourselves!
I want to win this because I would like to make smarter choices on my money.
I need to learn from my husband about household expenses.
I would love to win this for my daughter in college
Would love to see what it says about me and to learn some tips. I also agree with separate bank accounts.
Our biggest financial tip to keeping the peace is to be open an honest about purchases.
Being open and honest is good for all aspects of a relationship. Thanks for sharing that tip, Penny.
I want ti win it because I know my husband and i are different and I would like to see the reasons why
I would like to see to see what personality both my hubby and I are
I need to find more ways to trim extra dollars out of the budget
I would love to win to get a new perspective on money matters
For us it is all about having everything open, and we both have access to everything at all times. No lying, just talk about any purchases.
Communication is a great thing, isn’t it? I like to be as transparent as possible.
For us it’s all about the seperate bank accounts.
misusedinnocence@aol.com
I handle ALL the finances in the house and while I don’t mind I think my husband should at least know how much money we make and what our bills are!
we had separate accounts; maybe this book can show a different way.
Sometimes I think separate accounts is almost a necessity, especially if one had a previous marriage where joint resources could be tapped by the courts for support. This book is not so much about the nitty gritty management, but the understanding of how each person approaches finances.
I want to win this because I think my hubby and I could learn something from reading this book. Thanks for the giveaway.
Jennifer,
I truly believe that every married couple could benefit from this book. While you’re waiting to see if you’re the winner of the giveaway, you could always take their free personality quiz.
I want to win this because I am getting ready to get married and this would be helpful! Thanks for the giveaway!
Hope,
I really wish we’d had something like this BEFORE we got married. It’s really good to understand how your spouse approaches finances compared to you and avoid those fights.
We handle finances mostly together…..but without even taking the quiz, I know we must be totally different money personalities! I wish it was something you could deal with once and be done with it!!!
Kayla,
I think knowledge can be power, even if you know that the other person’s personality will not change to match yours. If nothing else, you can let go of hurt feelings thinking they made a decision to spite you. (Which I *ahem* have done in the past when hubby made a big purchase without talking to me…)