🤔 How to stop being the Money Boss in the relationship
When you're in a relationship, it's not unusual to split up responsibilities:
Dinners
Vacation planning
What to watch on Netflix
Who checks if raccoons got in the house
Who attempts to remove the raccoons
Who runs screaming out of the house when they see a raccoon.
And it’s usually someone’s job to manage the money.
But if one person handles all the money decisions, it can be a LOT of work.
That person becomes the Money Boss.
What is a money boss? No it’s not a hot reality show on CBS with Tony Danza. It's the person in a relationship who watches and reviews the spending and the savings.
The money boss lays down rules on what money can be spent. It's a rather crummy job. And it has zero benefits.
Let me tell you about a couple, Diana and Teddy (whose names have been changed).
Diana closely watched their finances for years; recently, she realized they were saving less than last year and decided to tell Teddy that he needs to cut back on pickleball equipment. He loved pickleball and she loathed telling him where to spend his money.
And guess what? Teddy hated being told by Diana what he could spend on. He would ask, "What spending cuts have you made?"
There was no progress with money, just resentment, and honestly, no one was enjoying pickleball right then.
How do you break out of this cycle of financial agitation?
End the Money Boss life. Start the Money Partnership lifestyle.
How? A first step can be to talk about one trip or shared goal you’re both looking forward to.
When Teddy and Diana discussed their summer vacation plans, they saw on paper why they both needed to change their habits. They now both had skin in the game, and they stopped pointing fingers and took a break from buying very contemporary sports equipment.
It’s hard to stop being a Money Boss. And it’s hard to stop being a Teddy. If you don't have the ability to look at your goals together or you don't know your current goal (and you can't even discuss spending), then why not embark on that journey together? As your financial coach, you'll have someone who can help you define your financial future and take control of your spending. A conversation about money with a third party means neither of you has to be the money boss ever again. Schedule a conversation today.