MMI Help Couples Talk About Money and financial Issues

HOUSTON, Feb. 9, 2012 /PRNewswire-USNewswire/ -- With Valentine's Day right around the corner, love is in the air, leading couples to talk about romantic getaways, special gifts and fun outings to express their love and affection.  In addition to the candy hearts and fragrant roses, this season of love is also the perfect time to have candid conversations about financial matters with the one you love. 

(Photo: http://photos.prnewswire.com/prnh/20120209/DC50964)

Nothing breaks Cupid's bow faster than an argument about money.  According to a study by Money Management International (MMI), fifty-six percent of people who are unhappily married report financial problems are to blame.  Numerous studies also indicate money problems as the leading cause for divorce. 

"The key to a loving and financially stable relationship is communication," said Jo Kerstetter, vice president of financial education at MMI.  "Taking the time to talk about money concerns and financial goals can be a great investment for a couple's joint financial future."

In addition, taking a little advice from the experts isn't a bad idea either, so the financial professionals at MMI went straight to the source – couples who have navigated their financial paths together and have lived to tell about it. From newlyweds to pairs whose relationships aged like a fine wine, we found a variety of couples willing to speak candidly about love and money:

"To manage money effectively, it helps most to share common values. These values drive our spending decisions and help us to have positive feelings about our shared financial plans."
- Tommye W., married 39 years

"Try as hard and best you can to be DEBT FREE!!!! There is nothing harder than having debt looming over you! I know we spent way too much money on my engagement ring and it was a huge bill the first nine months of our marriage. Although I love my ring, it's a constant reminder debt can creep into your marriage and make what should be the most enjoyable time of your life, the hardest and most stressful time.
- Holly J., married two years

"Combining finances with someone else is one of the most challenging aspects of a relationship – especially if you have been doing it on your own for years. The key in our relationship is communication.
- Andrea S., married six years

"It's best to have a household budget set aside to pay the bills, but it's okay for each spouse to have their own separate accounts for personal and other needs."
- Tina S., married 18 years

"Managing a relationship and money can be like a roller coaster ride. There are ups, downs and fast curves, but the key is to hold on tightly to the love that you have for one another and prepare as best you can."
- David S., married 30 years

"We have regular 'money talks' to discuss our goals and where we sit financially. Don't blame each other or point fingers. Don't sweat the small stuff. And ALWAYS save. Even if it's $10 a month, something is better than nothing!"
- Courtney V., married five and a half years

For more helpful tips for financial partners and to read more candid advice from couples, visit MoneyManagement.org and download the free eBook, Love and Money.

About Money Management International

Money Management International (MMI) is a nonprofit, full-service credit-counseling agency, providing confidential financial guidance, financial education, counseling and debt management assistance to consumers since 1958. MMI helps consumers trim their expenses, develop a spending plan and repay debts. Counseling is available by appointment in branch offices and 24/7 by telephone and Internet. To learn more, visit MoneyManagement.org or call 800.432.7310.

Contact:
Tanisha Warner
Media Relations
713.394.3202
Tanisha.Warner@MoneyManagement.org

 

SOURCE Money Management International

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