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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
A Six-Week Program to Build Your Rich Life Together
Money for Couples offers practical advice for managing finances within relationships. Ramit Sethi emphasizes communication, shared goals, and personalized financial strategies to help couples build a secure and harmonious financial future together.
We often think about “the” money conversation – as though it was a one-off, make-or-break discussion. But imagine if we treated other big topics the same way. Would we have just one conversation about raising kids? Or taking care of aging parents? Of course not. Important discussions aren’t one-and-done – they’re ongoing. The same goes for money. Instead of dreading one massive conversation, think of it as a series of talks, spread out over time. This shift takes the pressure off. You don’t have to get everything right all at once.
And here’s something to remember: talking about money is a skill. Like learning to ride a bike, you might wobble and fall a few times. That’s normal. The key is to keep going. A great way to start? Lead with honesty: “This feels a little awkward. I might say the wrong thing. But I want us to figure this out together.” Vulnerability makes it easier for your partner to open up too.
Before you sit down, do some prep work. Creating a great outline for the conversation ahead starts by clarifying your objectives. Take a moment to write down everything that’s on your mind, from questioning a mysterious charge on your bank statement to figuring out retirement savings and discussing financial matters openly. This list will help guide a productive talk, ensuring you cover all necessary topics – from health insurance paperwork to the kids’ upcoming field trip expenses or “big” issues like figuring out what a Roth IRA is.
But here’s the trick: don’t try to tackle everything at once. If you start with small questions – like a $7 charge at the gas station – you’ll be stuck talking about small change forever. Instead, zoom out. There’s only one real issue that needs to come first: “How can we start talking about money together?” Solve that, and everything else becomes easier.
You and your partner grew up with different money stories. Maybe one of you saves every penny, while the other sees money as a way to enjoy life. Neither approach is wrong, but understanding where you’re both coming from makes all the difference.
So, take a deep breath. You don’t need the perfect words. You don’t need all the answers. You just need to start. This isn’t a one-time talk – it’s the first of many. And the more you do it, the better you’ll get.
Money for Couples (2024) is a guide to helping partners navigate financial conversations without guilt, frustration, or endless arguments. Full of practical advice on hot-button topics like savings and budgeting, it helps couples transform money from a source of stress into a tool for building a fulfilling life together.
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Try Blinkist to get the key ideas from 7,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Get startedBlink 3 of 8 - The 5 AM Club
by Robin Sharma