FP #182: How to Improve Your Finances and Fire Up Your Romance – Mindy Halleck with James Rick

Out of 2.5 million marriages a year in the US, 1 out of 5 ends in divorce within the first year. The reason or reasons is something many of us already know but don’t talk about. This is why Mindy thought of writing a book on the two top factors that affect a relationship: Romance and Money – 12 Conversations Every Couple Should Have.

Mindy has been counseling couples, singles, widows, and anyone who has money, for 20 years. She also had an advice column for a bridal magazine for 10 years. There’s no doubt that she knows well (and has put into practice) the advice she shares with us in this interview.

GROUND RULES FOR A HEALTHY RELATIONSHIP (before you’re even in one)

• You need to ask questions

-     Do you have children? – Don’t wait until it’s too late to learn that your partner has child support for x number of children

• You need to take a look at his/her credit report –

-     This will give you an idea of what you’re getting into

-     You’re looking for indicators for behavior, not ones credit rating

…  A 10-year record of delayed payment in spite of having money indicates one is neglectful of responsibility

 …  Non-disclosure of support responsibilities indicates one is a liar

• You need to see that you have the same values with regards to money

-     The relationship will be torn apart if one partner is thrifty and the other is extravagant

• You have to be responsible yourself with your financial stewardship before you question your partner

FINAL LESSONS

• Let us help and teach the next generation to be wise about money

• Let us also teach other people around us, albeit in a soft, nice way

• Let us all be responsible for our own financial education

There are lots of resources you can use for your financial education if you visit Mindy’s website at RomanceAndMoney.com. The first 5 people who will email stacey@fullpotential.com will get a free copy of Mindy’s book, Romance and Money - 12 Conversations Every Couple Should Have.

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