Hi, it’s your Money Mavens, and you probably already heard the news…
Money fights and money problems are the leading cause of stress for couples in the U.S. and it’s no surprise!
Money impacts every aspect of our lives. From what we can buy to the services we can consume, our basic needs, even how we get to live in the future, money is so vital!
Did you know that how you grew up created a different relationship to money than your partner’s relationship to money?
Maybe your family didn’t have a lot of money when you were a kid. That possibly affected the quality of clothes you could buy, the school you attended, and where you lived.
Fast forward and you fell in love! What you maybe didn’t think about at the time is that your amazing partner had their own experiences with money.
Maybe their family’s history with money, and therefore their money stories, are quite different from your family’s.
And now that impacts how you and your partner both interact with money – and how you interact with each other about your money.
Your internal money speak may be far different than your partner’s internal money conversation.
Our team at Hendershott Wealth Management meets couples and families on a daily basis who struggle to communicate effectively when it comes to money.
It’s difficult, if not almost impossible to work toward common goals and true long-term financial success if you’re not on the same page as a couple.
The good news is your relationship with money can continue evolving.
The solution that works best for many of our clients who are in a financial partnership is Financial Therapy.
“Therapy? There’s no way my partner will agree to therapy!”
We get it – there’s often a bit of a stigma attached to the word “therapy”, but let’s chat through this a bit…
Financial therapy focuses on you and your partner’s beliefs, behaviors, and relationship dynamics around money… and all in a safe, non-judgmental space.
When financial therapy is done the right way, it helps nurture the conversation so you and the most important person in your life can see what each other is saying.
The ultimate goal is to bring awareness and empower both of you to adopt a more compassionate, honest perspective with love when it comes to money.
The key is finding the right type of financial therapy that fits your relationship.
For some couples, a more specialized type of financial therapy is necessary. If a significant mental health challenge is part of you or your partner’s everyday reality, it may require a more clinical perspective.
Whatever approach you need, we’ve seen Financial Therapy give couples and families an incredible breath of new life and healing.
Much like investing in your health or in the stock market pays benefits in the long-term, Financial Therapy is an investment that will benefit you with a healthier relationship with money.
Imagine financially moving toward how you want to live your life with your partner with ease and happiness.
The answer you may be looking for is Financial Therapy.
Your relationship with the love of your life matters too much to be at odds over money.
To your prosperity,
Your HWM Money Mavens
PS. Hilary goes more into depth on this topic of Financial Therapy in Podcast Episode #197 with Thomas Faupl, LMFT. Listen Here.
