Building Financial Intimacy: How to Deal with Financial Irresponsibility in a Relationship

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.8 • 1.3K Ratings

🗓️ 16 February 2022

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today, we hear from several #RichGirls about the role money plays in their relationships and talk about ways to improve financial intimacy – and, most importantly, create some common ground with a financially irresponsible partner. Whether you're the irresponsible partner or you're trying to cope with having one (or hey, maybe you two switch places!), this episode provides tangible tactics (and even a few 'scripts' you can try) for improving your finances – together. Thanks to all the #RichGirls who agreed to be interviewed for this episode. Other Resources An Efficient Way to Combine Finances for Marriage How We Built our First Couple's Budget Follow along Blog Instagram Twitter Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome back rich girls new and old to the money with Katie podcast.
0:15.9	This week we are diving into the most romantic Valentine's Day appropriate topic imaginable.
0:27.7	How to deal with a financially irresponsible partner.
0:37.9	Hey, maybe that's you. Every once in a while I will receive a DM that sounds like this
0:43.8	with varying levels of extremeness and urgency. Hey, I love your stuff. I'm really excited
0:49.2	about making some big financial changes but my boyfriend girlfriend's bouse cat isn't really
0:56.0	on board. What should I do? I should disclaim up front that I asked my husband what he would tell
1:08.2	people if they asked him this and he responded hilariously. I'll just show them the math. No, I said
1:14.8	the math isn't gonna help anybody but did I reconsider? Isn't the math what convinced me after all?
1:21.8	So let's dive in. Before we jump into how to handle the situation though, let's talk about signs
1:28.5	of financial irresponsibility to confirm that you've got an issue in the first place. After all,
1:34.5	not being thrilled about retiring at 35 by working 80 hours a week and subsisting on top ramen isn't
1:41.1	exactly a financial crime even if you are excited about it. As much as I wish we could, we can't always
1:47.6	mold our significant others into baby Dave Ramsey's and honestly why would we want to? These might
1:53.4	sound kind of judgmental but I would ask that you suspend your inclination to be overly accepting
1:59.2	and empathetic good tendencies just not right now and look at these traits independently and
2:05.3	objectively. Even though dating someone with dicey financial habits might not directly impact
2:11.2	your own finances right now, marrying someone with sketchy financial practices almost certainly will.
2:18.7	Not only that but 41% of Gen X divorces were the result of disagreements around money. That's
2:26.4	not to say you shouldn't marry or stay married to a financially irresponsible partner but it means
2:32.5	ignoring the issue or being overly blasé about determining a solution together could spell major
2:39.2	expensive trouble later and sometimes that can stem from just not being on the same page about
	...

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