Are You Financially Compatible?
By Margot Carmichael Lester
“Money is one of the biggest power struggles in a relationship,” asserts Bonnie Eaker Weil, author of Financial Infidelity. That’s why experts say it’s important for daters to pay attention to their financial compatibility. “Financial issues are the biggest deal-breakers in a relationship. It is important to understand your differences so you can integrate them to create harmony.”
Do opposites attract?
Each of us falls into one of two categories: spenders and savers. And the old rule about opposites attracting holds true with money, too. “I know that’s true with nearly every client I have, and it’s true of my wife and me,” says New Orleans-based financial planner Jude Boudreaux, who founded Upperline Financial Planning. “It’s challenging at times, but I think we’ve both learned from each other and reached a happier middle ground because of [it].” Adds Weil: “Eventually, couples neutralize each other if they learn how to communicate effectively about finances. You must respect each other’s different spending styles. However, some attitudes are deal-breakers … signs of lifestyles and beliefs that go against your own values.”
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