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I think we’re extremely lucky in this aspect. We don’t fight over money issues. D’s extremely creative and artistic; the art and craft she does are things that I can’t even think of imagining. But she’s least interested in managing personal and household finances. To her, a gilt would be something one is guilty of. On the other hand, I’m the exact opposite. I obsess over numbers, especially those related to finance.
Perfect then. I don’t offer creative ideas and D doesn’t offer investing ideas. So we simply don’t fight. In fact, D’s first ever comment upon reading Capital Advisor was that she simply didn’t understand a word of what I’d written. To date, she doesn’t read my writing!
Other reasons why we don’t fight over money issues include (what we typically call “Segregation of Duties” in my line of work):
- I take care of all regular and annual household expenses. I was used to this even before I met D and that simply continued. I can’t even think of asking her to share these expenses. D, however, funds all purchases of household white goods (no matter how expensive they are).
- I take care of all travel expenses (getting there, accommodation, etc.). D funds all purchases made during travel (you’d be shocked to know that she once surrendered her useless endowment policy to fund her purchases during one of our travels). This was a mutual agreement we got into when planning for our first trip together.
- I plan both of our Flexible Benefit Plans at work. I file both of our income tax returns. I organize and maintain all paperwork.
- I also manage D’s investment portfolio. She transfers whatever amount she can each month into my account and I subsequently invest it in her name. I give her an update at the end of each month on how things have fared.
- But, most important of all, we share a common vision for achieving financial independence and then financial freedom.
How about you? How do you avoid fighting over money issues with your partner?
Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.