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Money is something every couple talks about and struggles with at some point and it can be one of the biggest sources of stress in a relationship. Add kids to that, and you’ve got even more financial demands and desires to think about. It’s something Chris and I constantly have to work on and we’re still not where we’d like to be in the twilight of our careers. But outside of winning the lottery, how can we fix our financial woes? Is it too late for us?
Jeff Motske, CFP®, is president and CEO of Trilogy Financial, author of The Couple’s Guide to Financial Compatibility and host of The Jeff Motske Show.
My guest this week is Jeff Motske, president and CEO of Trilogy Financial, a privately held financial planning firm headquartered in Huntington Beach, California. He’s written a book called “The Couple’s Guide to Financial Compatibility” and he’s sharing valuable information on how couples can get on the same page when it comes to money. It’s not easy, but he says it doesn’t have to be a source of frustration either.
When Chris and I first got married we were in completely different places with our finances. He had a lot of debt, I didn’t have any debt. But I also didn’t have any credit either because I had no credit cards. I was always very scared of building up any debt because my mom always told me not to buy things I couldn’t pay for. Something she preached, but didn’t practice. I was so nervous to take on Chris’s debt but we talked about it, worked out a plan to pay it down and then started building up our own credit together.
Cut to many years later and somehow we’ve gotten off track. We still have debt, we’ve made a lot of bad financial decisions, and now in our forties we are paying for it. Now we are focused on getting back on track and with the holidays coming up that seems nearly impossible. We have a tendency to overspend at Christmas and we’re hoping with some proper planning we can avoid that this year. We have the cutest kid in the world and it’s hard not to buy her everything I see! But I will resist the temptation.
Is there any hope for us? Or new couples just starting out? No matter where you are in live Jeff has some practical tips in his book and on his podcast, The Jeff Motske Show. You can also visit his website to take the Financial Compatibility Quiz and see if you and your partner are on the same page when it comes to money. Jeff also shares great information on planning for your child’s financial future with college and other expenses.
Jeff Motske, CFP®, is president and CEO of Trilogy Financial, author of The Couple’s Guide to Financial Compatibility and host of The Jeff Motske Show.
You can find out more about Jeff, his podcast and his book on his website TrilogyFS.com. If you enjoyed this episode, don’t forget to subscribe to my show (and Jeff’s!) and leave a review!
