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Business: Financial fitness for couples Black Habits Articles (ONTARIO SECURITIES COMMISSION) Is financial fitness on your New Year’s Resolutions list? Taking a more pro-active role in your finances may help improve your overall quality of life.

Here are some steps to help couples:

• Share financial decision-making: Financial fitness is a team effort. Don’t hand over the reins to your spouse simply because “they are better at it.” Share your lifestyle goals and discuss how you plan on getting there. Chances are you have different routes in mind, which is common, but if misunderstood or poorly communicated, this could be the crux of typical money disputes. Understanding the big picture will also help keep stress at bay if you need to step in and make financial decisions on your own.
• Don’t go it all alone: Third-party advice may help bridge the gap and give you a much-needed, fresh perspective on your finances. A good adviser can help you get on track and stay focused and this will make you feel more in control.
• Ease into it: Getting financially fit is simply a matter of having the right educational tools to first tackle the basics, and then build on this foundation over time and with experience. It’s like beginning a new exercise program; start with small steps, things that are easily accomplished. Boundaries are pushed a little farther every time new comfort levels are reached until eventually it becomes second nature.
Posted on Saturday, January 14 @ 00:00:00 UTC by jcohen



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