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It s the classic opposites attract pattern. Someone who is anxious and likes to have control, for example, will often partner with someone who has a happy-go-lucky it s going to be all right attitude, she said. Those mentalities can bleed into every area of their financial lives, affecting communication and decision-making.
But in Clayman s experience coaching couples with these very issues, there s an obvious sign they re going to be able to overcome them: They re paying attention.
Couples who have a mutual awareness of their money are the most successful
Clayman said one of the biggest money obstacles people face is a habit of avoidance not checking your account balance, not bringing up financial concerns with a partner, not knowing exactly how much you spend each month, and the like. Avoidance is one of the primary coping mechanisms for managing anxiety, she said, and it s very difficult to overcome.
Life stage financial planning: Saving for children’s goals and retirement in your 40s
Financial planning in your 40s is tricky. Your parents may have retired and may become dependent. Your children’s education and other expenses may shoot up December 23, 2020 / 10:20 AM IST
Note to readers: No two people’s financial plans can ever be the same. Our income, expenses, goals, aspirations and financial obligations differ. But the first principles are more or less common, depending on your age bracket. Moneycontrol personal finance’s new series called ‘Life stage financial planning’ will tell you what these broad principles are, depending on whether you are in your 20s, 30s, or 60s
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