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  • Writer's pictureTerry Banks

Updated: Jul 4, 2023

There are money problems in relationships and that's why a major reason for divorce and breakups is money. There are many reasons why but a major underlying issue is communication about money in marriage. We are not taught in school how to do money management basics. As we navigate our consumeristic society without this knowledge we pick up more negative beliefs about money than positive. These beliefs often come from family and friends that are likely muddling through as well. PRO TIP: Don't take money advice from broke people.

As it is, a single person is swimming upstream trying to navigate their finances. It's even more difficult when two people with different money outlooks get sweet on each other. At the beginning of a romance, it can be daunting to be the first to bring up the topic of money. Will this person start to think of you as a buzzkill or cheap or greedy? Or will they be relieved because they wanted to bring it up but didn't want to be seen as the buzzkill or cheap or greedy? My advice would be to get into the habit of talking about the hard stuff, in the beginning, to help avoid money problems in marriage.

My wife and I were "budget buddies" from the very beginning of our relationship.  We both had credit card debt from poor choices made earlier in our 20's as well as student loan debt.  Being vulnerable from the beginning really helped us to become closer and get into the habit of being aligned and working together toward a future of financial security and eventually financial freedom. Spending time together was free and all we really wanted to do was spend time with each other so we used it to our advantage and paid down our debt.  From there we saved for our first home and have continued to make investing a priority.

Money falling with the text, "A major reason for divorce is money problems" enclosed in a text box and a heart and boxing glove on the side.

The tension created when one is a spender and the other is a saver may seem insurmountable.

There are ways to create harmony even when there are different money personalities in a relationship. Adults typically don't want to ask their partner for money. It is disempowering and introduces an unhealthy dynamic. My wife and I have our own separate play accounts so that each of us is free to spend however we want.  Since we're best friends we also have a joint play account for when we spend money together.

One may be a good money manager while the other wants to be completely hands-off. What if something happens to the money manager? That can leave the other partner in the position of having to put the pieces of the financial puzzle together in addition to grieving.

The good news is that these issues can be resolved with open and honest communication. Working with me can help couples to refocus, gain control and set a unified plan. Cheezy but true - Teamwork makes the dreamwork in money and marriage.

Utilizing a Financial Coach is like having a personal trainer for your money. Find out if an accountability partner, guide or cheerleader is right for you by scheduling your FREE 30-minute Q&A call.

Updated: Jul 5, 2023

In September of 2018, I weighed nearly 200lbs. I was sick and tired of being sick and tired of being sick and tired of feeling lethargic both physically and mentally. While researching the best way to fuel my body, I also learned another way of how to save wisely while budgeting for food shopping.

A combination of keto and intermittent fasting was what I landed on. Now I weigh just over 160lbs and I feel better, sleep better, have more energy and have mental clarity. I even got some "new" clothes. Not because I went shopping but because I could fit back into more of my clothes. With the exception of taking a deliberate break over the holidays, it’s been pretty easy to stay committed. Everyone’s body is different so I am not advocating my eating style because I am not a nutritionist. What I am advocating is meal prep as a budgeting tip.

A tweet saying, "I will NOT eat up my money in 2020.. I got food at home! I got food at home! I GOT FOOD AT HOME!!"

The advantages of Meal Prep

  • More control of food costs because of budgeting for food

  • More control of what you eat

  • Save time from not preparing individual meals or going to grab takeout

  • Reduce stress because you know that you have one less thing to think about doing or actually doing because you can be planning and budgeting food for a month

The basic steps of Meal Prep:

  • Plan your meals

  • Shop for ingredients

  • Prepare your meals

  • Actually eat what you made

A picture of a man walking in snow with the text, "My thoughts and prayers are with every single food delivery person I shamelessly send into freezing temperatures"

Every week, I prep a large batch of 1 or 2

recipes. I make a big enough batch so that some servings can be frozen to add to the

“bank”. This habit of “setting a little to the side” has become my rainy day fund for food. On those days that are busier than others or I just don’t feel like cooking dinner I have healthy meals ready to go.

So save yourself time and money, eat healthier and be less stressed and stop making delivery folks come out in 💩weather.

Utilizing a Financial Coach is like having a personal trainer for your money. Find out if an accountability partner, guide or cheerleader is right for you by scheduling your FREE 30-minute Q&A call.

  • Writer's pictureTerry Banks

Updated: Jul 5, 2023

Holiday spending credit card statement got you down? Are you one of the many who will be compounding their debt because they haven’t yet paid off the credit cards from 2018 shopping? Well, you’ve got plenty of company.

59% of Americans in the U.S. used credit cards to purchase gifts in 2018. 35% were still paying it off into the 2019 holiday season. So 48 million Americans are still paying off the 2018 holiday debt and may have even added to it in 2019.

A picture of a card holder with credit cards

It is possible to have a different experience when reviewing your credit card statement in January 2021. Of the folks that used credit cards to buy gifts in 2018, 24% paid it all off before incurring interest. Do you have a plan to show that you care for others without sabotaging your own financial health? Are you utilizing holiday spending tips to decrease your debt burden in the new year?

Give yourself the gift of peace of mind by being intentional and deliberate with your money.

A deadbeat as defined by the credit card company is someone who pays their card off in full and on time every month. BE A DEADBEAT!!!

Utilizing a Financial Coach is like having a personal trainer for your money. Find out if an accountability partner, guide or cheerleader is right for you by scheduling your FREE 30-minute Q&A call.

"You can be young without money, you can't be old without it."


-Tennessee Williams

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