Fox Business
Expand
Browse All Video
Watch Live

You're watching...

5 money resolutions couples should make

Details

  • Description

    The Money Couple on the importance of setting financial goals

  • Duration 8:32
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Steps when it comes to your money and your relationship joining us live right now Scott Bethany Palmer.

The money couple right.

They've got you've got to -- it's called the five money personalities.

And this book just came out and I think everybody.

In any relationship we've ever had argued about money that you you financial planners I gotta ask you before we get into the -- this book.

You fight about money right -- -- so absolutely -- I think -- couple -- those moments of tension yeah and those those disagreements that that every couple's deals with them.

What I think that we talk about and we discovered is that there's a real difference between a financial.

Decision and the money relationship.

A financial decision all important it's what we talk about his financial planners all day the budgets that.

Retirement plans -- investments the taxes all of those things.

But we never talk about is -- called the money relationship and those -- the dvd decisions that we make every day like drive us crazy.

I -- copy.

I I like an expensive -- a copy it just makes me feel good.

That everybody -- -- judgment -- -- he spent about for the silent for both primary expenditures I don't have a problem with that but in most relationships and one.

Cannot live without their five dollar cup of coffee together for -- Really don't get a five dollar yeah okay 78 I -- I get two dollars 38 to -- -- And that India visit of 100 accounts have yet you know an argument that you have and that's your money relationship OP debate if they did this is -- -- -- -- just hit the bookshelves today and you can get rid of all the bookstore and other revenue books visited with his wife and I will now -- haven't Amazon.com comment.

Before I ask you some of the key points the F five key points about money you know what do you do in the obvious relationship.

Where one spouse makes more than the other had -- -- how you reconcile that because it's not.

We -- altogether and we're -- equals is is that the way to do it -- what.

Well -- -- the things that's important is to understand what's coming in and going out of accounts because money impacts just about every decision you make.

If you say well he's -- is that I've got mine we're gonna keep them separate and we'll keep peace outweigh the problem is that you know -- money right exactly -- -- no relationship.

And I thought I got to pull it somehow -- -- about -- -- you have what you five money resolution couples resolutions couples should make this is before you get married absolutely well no this is just for 2013.

All right we're attacking us so.

The first point.

He's you need to celebrate the victories I mean it's -- -- -- rough out there the last couple years from for a lot of families but there's always something you can celebrate looking back -- 2012 about what did we do right where did we come together where did we agree.

And really taking the time to say hey we did have some victories -- that might have some losses you might have what we call a little bit of the holiday credit card hangover but.

The reality is there were some victories and talk about and celebrate how do you celebrate the victory about spending more money to hit the debt.

It could be a picnic a convenient -- at -- at home video move you.

You that's that it could be a pat on the back but I don't know about the credit card like 200 bucks at a very -- I -- where you're different -- dissent rightly -- -- yeah I'm with -- I I like to spend money that's already in the bank they're evaluating what was called spender safer.

-- -- I gotta tell that that the second point is discover something new.

And that really is discovering what human personality as we have a free money personally profile on our website at but -- couple dot com.

Then -- -- the book to understand your differences because.

He's got a website up right now -- I ring money couple vol money couple -- -- -- -- -- but there's absolutely okay.

So understanding something new about yourself and and in -- amounts your spouse have them take it right and -- that do it.

What have you discovered as we will only like three weeks two weeks ended 2000 that he would have you discovered know about yourself in regards to some money -- derivatives.

You know what really -- things as I do not have what we call the opposite thing.

I'm not primaries senator secondary risk takers so I have no problems with spending and risking go to the thought primaries than they're secondary security speaker that's -- we're learning more about him because he's -- -- opposite dynamic that we talk to -- -- Simon AdSense we like -- -- Well mortgage securities -- difference receivers that's.

Agree examples I went and bought these new pair -- amazing Michelin tires met with 70000.

Mile warranty and I just crazy.

You would never have a spender by that type of Tyre because they're really expensive.

But as a security seeker I'd like the thought of that long term -- I liked the fact.

Being able to look into the future and save those tires going to be around for me.

It seem like you mentioned earlier about you like to spend the money after everything -- I'm guessing your security seeker absolutely I'm the same way I don't have.

I don't have a -- spending money but I have to make sure all those obligations are met first then I'll spend whatever extent of all pay the credit card bills.

Two or three times you know to use the credit card get points but I hated throughout the month I news event that nothing and I don't want there to be balance I noted that -- any interest on -- credit card and I can't remember when.

Said -- -- and recommit to your love and money now is right exactly.

-- -- -- we say for richer or for poorer and so we want to make sure that we understand our differences because if we don't.

And we don't understand those differences and commit excellence the bluff goes out the door but yeah he he's -- -- -- -- yeah exactly -- need to commit to that.

Dreamed the dream dream dream -- dream we've got to get back as couples to dreaming.

And our finances for a lot of couples and families and their on -- so tight.

That they just stop drink they just stop saying he would have some of the dreams that we have what are we wanna -- in 2013.

Fourteen.

Fifteen and beyond and so we've really got to get back to money personalities are such a great thing to know.

Going into your dreaming.

Because a lot of us 75% of us have married our opposite money personality so her dream is deafening and maybe -- little different than my each -- Let's go first to something different histories are more conservative 70000 -- taxpayer yeah you -- make it.

I want to -- covers all kinda thing.

It out like it hasn't -- you know I read the fine print -- plus one is committed to know more financial infidelity this sounds a little.

What do you mean are there Erica I don't know -- -- in on Wall Street -- -- a bunch of people who have a spouse on the side that the real spouse doesn't know about that I read it to me.

-- -- -- -- -- Financial infidelity is lying cheating according woman inside at least it's me and savers people devastated many personally think kind of a secret -- cast because they don't want -- spouse to them you know plus it all away.

The spender commits financial stability because they don't want those -- and restrictions.

But what that does is because many impacts every aspect of your relationship -- erodes the relationship.

And we're all about love and money in the relationship give you financial planners were you your background at a college psychology that's.

I don't know I think it would only just got married -- -- better figured out right exactly because -- so sick and tired it's mean.

That 70% of all divorces are over money you know people think that it's.

Enhancements that are turned relationship the part of the day to day decisions went to tell -- -- -- so hard to say though to your wife or your husband you know it's okay.

Where it all lives covered as many as it always erupts into the argument it's it goes from one to ten it doesn't go to report finds that well the reason is because we don't understand -- differences we don't have a way to understand their differences now with the -- personality and understanding have a primary and a secondary.

And how those bump up against each -- they can even the opposite.

We need to be on the same -- OK it's a very quick.

-- the new book is the five money personalities.

It's written by the money -- and this is the third book you can get the book.

On -- -- John website give me the website page again it's that many -- dot com.

-- and -- you don't have if you can't get there is people flood the system it's on sale at Amazon.com.

And it's also available are going to -- You also then I'll bet on Fox News on -- right.

-- an op Ed you've been writing for foxnews.com.

Yes we are we actually just for reference articles gonna go out today are you gonna be -- posting stuff every week patterns really at about every other week whether it real quick as -- -- -- -- -- -- -- -- -- the topics coming up because I think you know we talking about your spouse and money but also that thought about -- I put this holidays coming up that's huge -- vacations coming up this huge we're entering a wedding season that's huge how do you agree about what challenge on Wednesday night.

Aren't you even over Valentine's Day one gives the president the -- reflect don't give it to me I don't need it so that kind of thing we've got to.

Get on the same page.

All right got to listen Scott deafening Palmer thank you for coming.

The money couple and again you can get their look at the money couple dot com we appreciate you being here on Fox Business what it.

Load More