This video outlines the various tasks involved in managing the family's money and assigns roles suited to each partner's strengths.
- Even though our central agreement…calls for inclusiveness and equality,…that doesn't mean that everyone is doing…every task together.…You are a team, and on this team,…members have individual responsibilities…that contribute to the performance of the whole.…When we work together to determine who will do what,…you can have both trust and independence.…So let's create a global list…of household financial management tasks.…We'll assign responsibilities to each person,…giving them the role of the lead partner in that area,…and make sure that there is clarity and accountability…in these assignments.…
Let me define what I mean by lead partner.…A person taking the lead is primarily responsible…for the execution of tasks…associated with that area of responsibility.…But it doesn't mean that the other partner is shut out.…We set up those areas of responsibility together,…with clear understanding on both sides,…of what responsibility entails, including boundaries.…Here's a list of basic tasks that need to be covered…as part of general family financial management.…
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