Australian Finance Podcast Money date activity: your financial wheel of life (with PDF worksheet)
Oct 3, 2024
Karen Eley, a Certified Money Coach, dives into financial well-being and practical steps to take control of your finances. She introduces an engaging activity called the 'financial wheel of life,' designed to assess satisfaction across ten areas of your financial landscape. Karen emphasizes the importance of honest conversations about money, especially in relationships, and offers tips for setting aligned financial goals. Plus, she provides insights on making financial tasks enjoyable and maintaining motivation through collaboration.
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Financial Alignment Prevents Breakdowns
- Couples should be aligned in their financial direction to avoid conflict and inefficiency.
- Financial disagreements are the second biggest cause of relationship breakdowns.
Common Couple Money Conflicts
- Financial conflicts often arise from differing spending habits, risk tolerance, and financial responsibilities.
- Differences can cause anxiety, resentment, or secrecy within couples.
Schedule Money Talks Thoughtfully
- Request a specific time with your partner to discuss finances to allow mental and emotional preparation.
- Avoid springing financial conversations on your partner unannounced to reduce anxiety.