The Silent Tax

Just in case you did not open my mail yesterday and you’re wondering why things look slightly different, there has been a rebranding of the newsletter as you can see. Just check your inbox and read the email I sent you. I won't get into the details today as it’s not the time or place to do so. Today, it is meant to address romantic relationship and marriage issues in this community.

Now that’s out of the way, we'd be digging further down the pain point we started exploring this month: why couples fight about money. And when I say "we," I mean you and me as we are in this together.

Alright, last week we found out that couples often argue about money because they have different ways of spending it. Today, I want to talk about why couples making different amounts of money can worsen these money fights.

Let’s begin!!!

Money can cause challenges in relationships, especially when there's a big gap in how much each person earns.

Five common situations can cause problems when couples have different incomes in a relationship:

1. Power Dynamics: When one person earns more, they might unintentionally have more control over decisions, like having the remote control for the relationship. This can make the other person feel sidelined and upset the balance.

2. Contributions to Expenses: Figuring out who pays for what can create guilt or a lack of confidence if one person covers more bills or stress if someone struggles to keep up.

3. Mismatched Financial Goals: Differing views on saving and spending can lead to clashes about managing money and where to focus financial efforts.

4. Lifestyle Expectations: Different incomes can lead to disagreements on where to live, how to vacation, and overall lifestyle choices.

5. Dealing with Debt: If one person brings a lot of debt into the relationship, it becomes a shared problem. Figuring out how to handle it can cause disagreements and resentment.

Managing all these aspects can be tough, especially when there's shared debt causing unexpected problems.

Talk Openly
Share your thoughts on money in a comfortable space. Make sure both of you feel heard and respected.

Dream Together
Figure out what you both want money-wise. i.e. your financial goals.

Budget Together
Make a money plan that fits both your needs. Find a middle ground that works for both of you.

Share the Load
Even if you make different amounts, find a fair way for both of you to chip in for shared stuff.

Check In Regularly
Look at your money plan often. Adjust it if needed. Keep talking about money regularly.

Save for Surprises
Put money aside for unexpected things. It helps you feel more secure.

Get Pro Help
Consider talking to a money expert. They can give good advice on how to handle your cash.

Celebrate Wins
Celebrate each other when you reach money goals. Small or big, you both must celebrate your successes and milestone achievements together.

Learn Together
Keep figuring out the money stuff as a team. Go to workshops or get advice to get better at it.

Stay Positive
Keep talking and working together. A strong money game plan builds a strong relationship.

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