Relationships
Often without even knowing it, our finances suffer because of broken relationships. Either we don't realize how it is affecting our finances, or we are throwing money at things to try and make ourselves feel better. The key here is to take a deep look at our relationships to see where there might be problems, then work on fixing those or simply trying to strengthen our relationships with the end result that our finances are better.
Here is an example of how a struggling relationship can cause financial damage: A couple came into our office not long ago, talking about their plans to move. The wife, who we will call Janine, wanted to find a new house. She hadn't made connections with any of her current neighbors and wanted a change. The husband, who we will call Frank, did not want to move. He was fine with where they live and only went through the motions of looking for a new place to appease his wife. Finally, she relented and said they could stay in the current house for 2 more years and then move. But in the meantime he had to complete renovations in the kitchen, bathrooms, and basement. These projects would costs nearly $80,000 - that is $80,000 on a home that they are only planning on living in for the next two years. They could easily save that money and buy twice the home they were looking for to begin with or have much less debt. The issue was one of control. If Frank wouldn't give in on the house now, Janine was going to make him give up something. When, with the help of a Financial Life Coach, they realized what the real issue was and how they were each trying to control the situaiton, they could move forward. They were able to start working on their relationship which in turn had a huge impact on their finances. They were lucky to avoid an $80,000 mistake!
We as human beings are created to have relationships. We work with people, live with people, have families, friends, and neighbors. It may come as a surprise to some, but to be successful financially, it is important that our relationships are working well. On the right side of this page and below this text you will find links to various resources that we have put together to help you make the most of your relationships. If you have any suggestions on books, links, or videos that you have come across and would like to share with others, please let us know so we can post them.