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Recognizing your money type

July 13, 2009 5:36:14 AM PDT
Nearly 75 percent of couples who divorce cite money as the primary cause of their problems. Even couples who get along perfectly can still end up arguing over money. Now a new book, called First Comes Love, Then Comes Money, says the solution is to understand each other's money type. Authors Bethany and Scott Palmer, both financial advisors, warn against the biggest mistake we make financially in our relationship.

They say people fall into these types:

  • Spender - lives in the moment, loves to buy for others
  • Saver - gets a rush from saving, doesn't spend impulsively
  • Security seeker - trustworthy, willing to sacrifice, craves security
  • Risk taker - excited by possibilities, listens to your gut, decisive
  • Flyer - happy to let others handle finances, not motivated by money

    The Palmers also suggest couples should have regularly scheduled financial meetings. They call it the "money huddle," so you can talk through your family's financial issues. They also say always try to start that meeting on a positive note.


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