How to Tackle the Money Conversation with Your Partner
Don't be afraid of the M-word.
Money issues can wear on any marriage—in fact, a February 2015 survey from the American Psychological Association found that 31 percent of adults with partners cited money issues as a major source of conflict in their relationship. This week's episode of "The Labor of Love" tackled the money problem head on, and RealSimple.com editor Lori Leibovich called on Manisha Thakor, founder of MoneyZen and author of two personal finance books: On My Own Two Feet: A Modern Girl’s Guide to Personal Finance ($12, amazon.com) and Get Financially Naked: How to Talk Money with your Honey ($11, amazon.com), to discuss personal finance strategies that are practical for any relationship. She also consulted Lori Gottleib, an LA-based psychotherapist and author of Marry Him: The Case for Settling for Mr. Good Enough ($13, amazon.com), to find out why these money questions are so vexing, and how to make sure they didn't ruin a marriage—because a Kansas State University study found that couples who argue over money early on are more likely to get divorced.
For Gottleib's advice on the essential money conversations you need to be having before marriage, and Thakor's advice for how to divide up financial responsibility, listen to the full episode below. Don't forget to subscribe to all of our podcasts on iTunes!