Debunking 3 Myths About Money in Marriage
Managing money in marriage can be a challenge. For one thing, money arguments are not about money. They are about our hidden dreams, identities, and core beliefs about what we need to live a rich life.
The path to a rich life is full of detours and myths that can hold couples back from achieving the financial freedom they dream of. Below are three of these myths and their realities.
1. Spend less than you earn to be wealthy
The other day I was talking to Daniel and Suzanne about how they are planning to achieve their rich life. Daniel instantly spoke up. “Being rich is simple, just spend less than you earn.”
While mathematically speaking this has a degree of truth, it can provide couples with a false sense of wealth. Spending less than you earn will keep you in the green but it won’t make you rich.
Ask yourself: Is wealth really that simple?
I asked Daniel, “Are you happy with your finances and how you spend your money? What system do you have for getting ahead? What are your financial dreams? How are you investing your money? How much do you spend eating out or paying off debt?”
Daniel gave me a Scooby Doo