This video highlights the benefits of each partner prioritizing the good of the whole and the destructive effects when one partner "wins" and the other feels left out.
- The reality is that there are probably still areas…where you don't agree and aren't able to figure out a way…for both people to get what they're asking for.…Compromise is where each person makes concessions…for the good of the whole.…Maybe you think that paying off student loans…should be the family's top financial priority,…but your spouse doesn't think it's worth sacrificing…your lifestyle to shave a couple of years of payments off.…Guess what?…You don't necessarily have to agree with each other…to come to an agreement.…I'd like to share with you four tips…to help you through the process of compromise.…
First, it's not 50/50, it's 100/100.…When we're being asked to make a sacrifice,…you have to feel like both people are in it 100%,…that we're each sincerely committed,…giving everything that we can to reach a consensus.…This can be a tough thing to quantify.…It comes down to a feeling of trust.…All of the work that we've done so far…around discussing values, communicating effectively,…and asking concretely for what we want…
In this course, financial therapist Amanda Clayman shows how to tackle the financial difficulties that often sour partnerships by walking through how to create and follow a family cash flow plan. Using her five pillars of financial harmony as a guide, Amanda explains how to construct a plan that engages all family members in its implementation. Looking at money management as a system designed to meet your specific needs, she highlights common financial conflicts and shows how to create a healthy, sustainable plan. She explains how to establish ground rules for communicating effectively, prioritize each partner's "asks," assign money management roles suited to each partner's strengths, and bring it all together into a working plan.
- Why couples fight about money
- Exploring values
- Communicating effectively
- Being clear and concrete
- Negotiating successfully
- Assigning roles suited to each partner's strength
- Setting up a routine
- Creating your family cash flow plan
- Dealing with dilemmas
- Making changes
- Engaging children in your family's cash flow management process