Ask Dan and Jennifer » money

Do You Stash Cash?

Dr. Bonnie Eaker Weil — Thu, 20 Aug 2009 01:00:36 +0000

No, I’m not talking about an emergency supply you may have in a kit for a natural disaster or the like (in which case you SHOULD stash your money!), I’m talking about those of us who have a habit of keeping our cash around the house. It’s even more understandable given the recent collapse of banks and all this uncertainty, but consider the example – albeit extreme – of the woman in Tel Aviv who had stashed $1 million in cash under her mattress (literally), which was then hauled away to the dump. The cash still hasn’t been recovered.

According to MSNBC, statistics on the number of people in the U.S. who stash cash at home are hard to come by, but a 2007 survey of 1,500 British adults by Virgin Money found 8 percent of them stash between approximately $500 to $1,650 around the house, usually tucked within a drawer, mattress or safe.

Locked Up Tight?

Utilizing a safe may be one thing, but too often cash-stashers don’t secure their loot behind a combination lock, which can lead to all kinds of problems – the money accidentally being thrown out, donated (when stashed inside a jacket pocket for instance), or stolen. Then you have the risk of fire or even forgetting where you put it!

An exercise I suggest in my book to people who have unhealthy relationships to and with money is to figure out their financial Imago, which I discuss in my book Financial Infidelity – which deals with peoples’ romantic relationships as well as their relationship with money.

Your Relationship With Money

Depending on your stage in life, and your stage in the relationship, there are crucial questions you need to answer. How do you feel about debt? How much debt do you have? Are you a risk-taker or are you risk-averse? Will the kids go to private school? Will we fund their college education in its entirety? Who will pay when we go out? How often will we go out and how often will we eat in?

Of course, these are only a few, sample questions to touch on before you head into significant life changes, but they are a good place to start. Many times you many not even know how to answer those questions yourself, much less how you will answer them as a couple. And just as often, you will have a knee-jerk reaction as to how to answer them that may be completely opposite from your partners. It’s always best to get those reactions out in the open before you find yourself “in the heat of battle!”

If you uncover that your passion for stashin’ is somewhat hereditary, you may want to go around emptying out drawers of heirloom dressers … JUST KIDDING!

When Should You Talk About Money In Your Relationship?

Dr. Bonnie Eaker Weil — Wed, 22 Jul 2009 01:40:40 +0000

Finances and budgets can be touchy subjects, so it may seem completely counter-intuitive to discuss money-related issues early on in a relationship, but this is exactly when it needs to happen. I’m not suggesting you ask for a breakdown of the other person’s assets or that you inquire as to how much they make. And I’m not setting forth the idea that you lead your first date with questions about finances, bills, debt, etc. You need somewhat of a foundation to a relationship before you start discussing some of these tougher subjects.

Are You Comfortable With Talking About Money?

In some ways, this financial discussion has gotten a bit easier as we as a society have become somwhat more comfortable talking about money overall. More people talk about how much their rent or mortgage payments are. More people discuss bonuses at work, the great travel deals they got, or how much they paid to repair their car. It’s not taboo anymore and this is good news for introducing these topics into a relationship. You might be able to learn quite a bit about your significant other’s financial situation just through the routine of normal conversation. Certain topics aren’t considered prying, and don’t feel like you’re being nosy – finding out some basic details about your potential partner’s financial situation should be as important as finding out if you’re emotionally compatible (I discuss both these types of compatibility in my book, Financial Infidelity).

What About When?

So, back to the “when” question. There’s no point in delineating the finer points of relationship finances if there’s no future to the relationship. It usually takes some time to figure this out, so I can’t answer the question of exactly when for you. I can say that there comes a point when you’re comfortable enough with each other to talk about more difficult subjects. But don’t use your comfortability as an excuse to put it off. You only need to figure out basics in the beginning, and you likely won’t be completely at ease as money can still have somewhat of a stigma attached to it. Here are some guidelines for generalities you should know early on in the relationship:

-Ask questions about how money has been used in their family: worries, abandonment, shame, blame around money.

-Asking questions like this will eliminate any problems or irreconcilable differences, and is a way to see who is flexible and who is not, in reference to money and power, and struggles over money.

-Do a budget for yourself (if you don’t already have one) to help answer some of these questions for yourself.

As you move forward in your relationship, have money talks weekly to minimize financial infidelity.

Women Spend More When The Going Gets Tough

Dr. Bonnie Eaker Weil — Mon, 13 Jul 2009 22:00:49 +0000

A new survey found that 79% of women said they would go on a spending spree to cheer themselves up, concluding that some women use shopping as an emotion regulator, “a way of anesthetising themselves to negative feelings or dissatisfaction with life.” Ironically, this means worrying about money could lead women to spend more.

Spending During A Recession?

SO – if you find yourself wrecking the budget during a financial crisis – when you should be more concerned with keeping money matters in check – you’re not alone. Of course, this doesn’t let you off the hook! The survey – conducted by Professor Karen Pine, from the University of Hertfordshire – uncovers the fact that women are more inclined to spend themselves out of misery when they’re financially strapped, than the times when they’re not. A lack of money is stressful, and the way many women deal with stress is to, well, spend more! Thus, ironically, the recession could actually force more women to overspend.

As I’ve studied addiction over the years, I’ve seen similar behaviors. Of the 700 women in this survey, four out of ten of the women named ‘depression’, and six out of ten named ‘feeling a bit low’, as reasons to go on a spending spree and overspend. This can either lead to, or be symptomatic of, what I’ve come to call financial infidelity – spending money you don’t have behind a partner’s back. Or, if you’re single: simply spending money you don’t have in violation of your budgetary restrictions!

Just as an individual may turn to an illicit love affair to provide the biochemical feelings of connection and experience the thrill of a new romance, over and over again, so, too, they may turn to risky financial behavior for stimulation to give them a high, and get them out of a “funk” or a depression down-turn.

Can Spending Be A Drug?

Not all the women in the survey felt cheered up by the shopping experience. One in four had experienced feelings of regret, guilt or shame after buying something in the week prior to the survey. And seven out of ten women had worried about money during the same period.

The behaviors that stimulate the feelings that drive many to shop when they shouldn’t can easily become addictive, and that’s when it moves into more dangerous territory. As the survey suggests, the ability to regulate emotions is crucial for mental and physical wellbeing and humans adopt a variety of means of doing so, including drugs and alcohol. Shopping is one method increasingly adopted by women, and a Stanford University study identifies one in twenty Americans as compulsive shoppers.

Shopping when feeling depressed is akin to the behaviors that are triggered by other types of addiction. Take stock of your emotions, and the times you feel most prone to engage in a little “retail therapy.” If you’re indulging in spite of your budget – or worse, because of it – you may be headed down a dangerous path that will be unhealthy both financially and emotionally. Work to re-wire the pattern of thinking that leads you to shopping, opting instead for spending time with friends, trying something new like taking a class, head to the gym, or use your energies to volunteer. Work to divert your energy and attention into something positive – the possibilities are nearly endless!

Learning From Michael Jackson

Dr. Bonnie Eaker Weil — Mon, 06 Jul 2009 01:00:31 +0000

With Michael Jackson’s passing recently, the world lost a great musician who contributed infinitely to our cultural and musical landscape – he touched so many different worlds from fashion to culture to music and beyond. But there’s no doubt that he lived rather tragically toward the end of his life. From a perspective of the outside looking in, there are a few things we can learn from him in the realm of relationships and finances (and a lot more in many other areas as well!):

What’s your “Imago”?

How do you look at your money based on your past? This is tricky for most of us and no doubt even trickier for someone who starts in show biz as a kid, but it’s an important step to take in having a healthy financial outlook. The key to avoiding such destructive behavior is communication, and there are many different ways to communicate your feelings about money and finances – which leads to my next point.

Engage In Dialogue

I teach a technique called “Smart Heart Dialogue” where I instruct people on how to talk about money and other volatile topics within their closest relationships. Perhaps Michael Jackson had a close confidant – and I hope he did – but he seemed isolated and when we shy away from having someone who we can have real, difficult situations with is crucial to connecting on a personal, fundamental level.

Don’t Give Into Financial Infidelity

Whether we have enough money or we’re financially strapped, financial infidelity can still be taking place. Financial Infidelity (as I talk about in my book by the same name) like sexual infidelity, is spurred on by feelings of stress, loss and separation. As with any addict, the choice to self-medicate in any number of ways—with alchohol, medications, sex, or money—can begin with a desire to relieve stress or mute depression. I call this the “biochemical craving for connection,” as the addiction then progresses to a preoccupation with where their next “fix” will come from, and often involves a strong desire to create rituals around obtaining the “high.” This preoccupation becomes a compulsion—to use drugs or alcohol, or to have sex, or to shop—followed by depression and despair as the effects wear off, leading to the start of the cycle all over again. It’s something that’s understandably developed by people who are always “on,” who feel they always have to be on top.

Your Money Gram

Along these lines, I strongly believe that doing a “money gram” is one of the most crucial things you can do for yourself to understand what your financial history and tendencies are. This will help you to understand your attitudes, fears, beliefs and patterns in your money history. It may draw attention to issues you weren’t aware of. Ask questions like “how was money handled in my family?” “Was I aware of any financial troubles as a kid?” “How did this affect my view of money?” “Was money used as punishment or reward?” How has this influences my finances as an adult?”

4 Financial Steps Towards Being More Relationship Attractive!

Greg Halpen — Sun, 07 Jun 2009 23:00:13 +0000

Are you one of those guys who think that everything will fall into place once you meet Mr. Wonderful? You know what I’m talking about. Your life will be absolutely perfect when you meet the “ONE”? The financial debt you’ve acquired will disappear. Your savings account will magically sprout a money tree and your life’s vision will become so crystal clear, you’ll wonder why you didn’t meet Mr. Wonderful sooner.

What Does Money Have To Do With Great Relationships?

Believe me, I am not one to burst bubbles, but I am the kind of person who loves supporting people in their dreams, creative processes and imaginations. However, when it comes to being Date Smart and Relationship Ready, there’s one MAJOR piece that needs to be in place in order for Relationship Success to happen. And I’m talking about blissful, easy-going love relationships.

There is nothing like an empty wallet and creditors hounding you while you’re trying meet Mr. Wonderful. Also, wouldn’t it be great if you could finally be where you’ve always dreamed of being when it comes to finances and relationships? I’m not saying LOVE can’t happen during financial crisis; what I am saying is, if you want to end the cycle of bad dating and relationships, foreclose on never having money troubles in a relationship, then you will do what it takes to get debt free and financially sound. Here are 4 Financial Steps that will make you more Relationship Attractive.

4 Easy Steps To Becoming Financially Secure And Relationship Attractive

1. Fatten the PIG! Start an FDIC insured ING Direct on-line savings account. This is a FABULOUS way to have a small portion of your paycheck automatically delivered to your ING account earning a 1.50% APY. I have to say the greatest mind trick with ING is, while your money is being safely stored away and earning interest, you kind of forget it’s there and withdrawing the money takes a few days. So, you will less likely be enticed to spend it!

2. Stop the stinking thinking! There is a belief out there that says you are suppose to have money troubles in relationships and it’s all part of the process of relationship building. Yeah, it’s semi- true, but haven’t you suffered enough and wouldn’t you just love, for once in your life, to have things work out the way you envision them? I always say, build a solid foundation and if things go off course, like sudden money problems, you’ll have the tools and support to get you through it quicker. So, get your money mind-set in order, because that is one smart start to becoming relationship attractive.

3. Where’s that shredder? How many credit cards do you have? Can you transfer balances to one with a lower interest rate? Go for it and then SHRED the rest! You only need one and besides I learned that it’s smarter to have one card for travel or emergencies and pay cash for everything else. If you’re not ready to do this, take a little time to ponder over whether or not it’s worth paying interest or even high interest for goods and services.

4. Get advice! Put your money where it matters. Hire a professional coach to take you through what you need to do to get back on track with your finances. This is a VERY sexy relationship attractive step. It shows you want to start building a solid relationship with money, and that in itself, is a beautiful thing.

Now that you have 4 directions to go, choose one and see it to completion before going to the next. Little by little you will see the changes and before you know it, you are back on track with your finances and opening more space to let Mr. Wonderful in.

Don’t Let A Financial Downturn Cause Financial Infidelity in Your Relationship

Dr. Bonnie Eaker Weil — Sat, 03 Jan 2009 13:39:29 +0000

As I’ve mentioned before, I’m calling this economic crisis "Financial 9/11." And it’s obvious that this downturn has been around for awhile, and may be here to stay for quite some time.

A report was recently released that the recession is said to have started this time last year. Meaning we’ve already been experiencing a decline for nearly a year.

Not to start this article off on a down note, but it can be hard to keep spirits up, especially during the holiday season, when news like this hits the airwaves. So how can you avoid committing financial infidelity in this tough economic times?

Avoid Financial Infidelity

Those who end up falling into financial infidelity are often seeking to duplicate the euphoric feelings of "falling in love." They are trying to re-create their feelings, maybe not specifically with adulterous affairs, but by other means, including out-of-control shopping, or other risk-taking behaviors.

It may seem counter-intuitive that someone would "binge-shop" during tough financial times or that a person would actively seek out risk, but the satisfaction that is felt from this "quick fix" can appear to be worth the risk or the cost.

Talk to Your Partner

The key to avoiding such destructive behavior is communication. I touch on various types of relational/financial communication in my book, Financial Infidelity, and there are many different ways to communicate your feelings about money and finances.

You could engage in Smart Heart dialogue where you use a transition in life to ask crucial questions and uncover you and your partners ideas about money. You could focus on your "Imago," the way you look at money based on your past both as an individual and as a couple.

Don’t Let Stress Get to You

The important this is to not let the stress get the better of you and to keep engaging each other in honest conversation. It’s hard not to let these conversations escalate, but it’s important to keep a neutral tone so that each person feels comfortable talking about their concerns:

*Echo what you hear and validate your partner’s feelings. Truly listen to the other person and let them hear you repeat their thoughts and concerns back to them. This assures them that you ARE paying attention and not just continuing with your "agenda."

*Detach from your emotions. Try not to let your responses be emotional, but rather focus on the facts and the truth.

After a fair and productive conversation, remember things that each person need to work on, in order to avoid financial infidelity or a need for thrill-seeking behavior.

Understanding the Sex-Money Connection…

Dr. Bonnie Eaker Weil — Wed, 10 Dec 2008 19:01:25 +0000

Money and sex are more closely tied than you may have first suspected, and there’s scientific research to back that up. A new brain-scan study showed that when young men were shown erotic pictures, they were more likely to take a bigger financial gamble than if they were shown a picture of something scary.

Perhaps not-so-surprisingly, the arousing pictures lit up the same part of the brain that also lit up when financial risks are taken.

The Sex and Money Study

The study involved 15 heterosexual young men at Stanford University and focused on the sex and money “hub” of the brain, which is near the base of the brain and plays a central role in what you consider to be pleasurable.

When the erotic images activated that hub, the men were far more likely to bet high on a random chance game that would earn them either a dollar or a dime.

The Triggers

Stanford psychologist Brian Knutson, a lead author of the study, says the trigger doesn’t HAVE to be sex. It could just as easily be something like a winning lotto ticket, good food or delicious dessert. Basically, he says, it’s all about the power of emotion and arousal and our financial decisions.

“It didn’t matter if the sexy woman didn’t tell you anything about the odds of winning a roulette game,” he explained. “What really matters is that the sexy woman is having an emotional impact. That bleeds over into your financial decisions.”

Part of a fulfilled life and relationship is keeping these emotional triggers, whatever they may be, from spilling over into your financial decisions too much. Letting sex, or food, for example, affect your financial relationship can have a severe impact on your emotional relationship. As I talk about in my book, Financial Infidelity, what typically leads to multiple types of infidelity, whether it be sexual, financial, emotional, etc, is a need for a thrill.

Thrill Seeking Behavior

Thrill seeking behavior, as this study shows, can be triggered by sex or sexual images and the reasons at at the root of this behavior can often be tied to stress and fear.

When it comes to financial infidelity, one person may use money or shopping to relieve the stress of a bad day at work, a fight in a relationship, any one of a number of things. These things are similar triggers to what can cause a sexual affair, as well.

The bottom line is, there are behaviors going on behind the back of one of the partners. Obviously honesty is important, and it’s VERY important to be honest and not let the stresses, problems and temptations in your relationship get to the point of an infidelity! Learning how to talk through things you face, both as an individual and a couple, can be crucial to building a strong relationship.

How Keeping A Journal Can Reveal If Your Lover Is Cheating

Jim Walthby — Tue, 02 Dec 2008 13:05:32 +0000

Our minds aren’t perfect at remembering special details and specific facts. Far from it.

Our brains work selectively; they store and recall certain bits of information while forgetting others.

For example, you might remember, for whatever reason, a phone number that has little or no importance to you, but forget the birthday of someone you really should buy a present for.

For the most part, this selective/subjective memory trait creates no real problems in our day to day lives. We can look up a number if we forget it, or ask a friend of a friend for the day of the month on which someone’s birthday falls.

When Selective Memory Is A Problem

However, sometimes it can make things slightly trickier. One such time is when we suspect our partner may be cheating on us. Imagine you walk into the room just as your partner is putting down the phone and they seem a little on edge or tense as they turn around and see you.

The incident may stick out in your mind for weeks, niggling at you, making you wonder: did it mean something, was it a sign? Fast forward to a different occasion, when your partner returns home from a business meeting or other engagement late and immediately jumps in the shower, even before properly saying ‘hi’ to you.

You might rationalize their behavior by thinking: “Well, they were probably tired or something. They surely just felt like refreshing themselves with a shower,” then forget all about it.

You might be 100% right, but that’s not really the point. The strange phone incident and the unusual dash to the bathroom on returning home could both have happened because your partner is cheating on you, and conversely they both could be wholly innocent and not caused by infidelity.

The point here is, remembering one incident over the other and thus giving it more weight or meaning than the other in your mind could potentially make it much more difficult to ascertain what is or isn’t going on, whether they’re trustworthy or not.

So, to combat the human tendency to selectively remember and therefore consider some incidents more than others, and therefore improve your chances of revealing the truth, you should keep an objective, non-selective record of everything that happens. Here’s how it works:

Keep A Journal

Use a journal or diary, not a digital method of recording events, changes in behavior/habits/moods, etc. Noting things in your own handwriting allows each piece of information recorded to be absorbed more deeply and permanently by your mind than if you type them out quickly on a computer.

Also, paper records (a diary, journal, etc.) are usually more portable than laptops, PC’s, etc., which could come in handy if/when you spot a potential sign of infidelity away from home.

Be Objective

…

How To Manage Money Issues in a Loving Relationship

Laurie Weiss — Sat, 08 Nov 2008 15:30:20 +0000

When "money" is a couple’s issue, is there any way to get past it and still have a loving and supportive relationship, especially if every other aspect of the relationship is strong and loving other than the ways of looking at money (particularly in tough times)?

This money question from Jenny describes a problem many couples face. Money issues can be especially intense because money discussions are usually about much more than just money.

When Money Becomes an Issue

In tough times the money issue comes up because it represents a very basic need—security. When you feel threatened your normal rational way of functioning often becomes very primitive.

Your basic emotional instincts take over without their normal restraint. Therefore, the number one rule is to NOT discuss money when you are scared about not getting what you need. It’s very hard to be rational when you’re afraid and you can’t solve anything when you feel that way.

What You Can Do Differently

A couple of things you can do differently is to have some money talks when you’re feeling calm and connected. You can try these questions to stimulate a different kind of conversation. They’re based on Transactional Analysis (TA), a system for understanding, predicting and changing behavior that was developed in the 60’s.

TA explains that you act in at least 3 distinctly different ways. One, your Child Ego State is emotional. Another, your Parent Ego State is driven by and expresses rules you believe are necessary and important. The third, your Adult Ego State operates rationally and makes assessments and predictions based on information.

In computer terms, you can open any of three different programs and use them to address the problem. Some programs provide answers that are more practical than others, but each program gives you a “correct” answer based on it’s own system.

Questions to Ask

These questions are designed to discover the answers those six different programs the two of you are coming up with about money issues. Once you can see how complex this information really is, you can begin to sort it out instead of just arguing about it.

How would each of your parents tell you to solve the problem? Include step-parents or any other important parent figure as well. (Parent rules)

What would each of your parents do (have done) if they needed to solve this problem themselves? (Parent models that may become rules for you)

What would you do if you could do exactly what you want to do and nobody was watching and you didn’t have to answer to anybody about what you did? (Your own Child)

What are your resources and what are your options? You have this information when you stop to think about it. (Your Adult)

What’s Next?

…

The Balance Of Power: How Sex And Money Affect Your Relationships

Dr. Bonnie Eaker Weil — Wed, 29 Oct 2008 19:02:26 +0000

Ever wondered what it would be like to make a career out of sex? Showtime’s new show “Secret Diary of a Call Girl” plays to just such curiosity.

It is based on the book which was based on the blog of an English call girl who sells her body to strangers because she loves sex and money.

As Entertainment Weekly reports:

"Call Girl" is a blatant attempt to re-create the friction and success of "Sex and the City" down to the knowing-girlfriend voice-over. Indeed, as Hannah by day, Belle by night, Piper gives us a sassy cross between Carrie and Samantha. If either of those characters had been British. Or hookers.

The series seems to make the case that you CAN be happy and be a prostitute, yet arguing that this is an enjoyable alternate career choice seems difficult to do. And the women who claim to have successfully done this are seemingly few and far between.

Sex and Money

Sex and money seem to be common themes nowadays, as sex scandals abound, and the money that comes along with it is obscene! As our culture becomes more engrossed in the pairing of these two subjects, they are also the two topics causing the most problems in marriage.

Sex is tied into money and that’s all wrapped up in power. The power struggle between men and women, in our relationships and marriages is familiar territory, if only recently glorified by bawdy TV shows.

The Balance of Money, Sex, and Power

As I discuss in my book, Financial Infidelity, the balance of money, sex, and power can make or break a relationship, and often times, financial infidelities can take just as heavy a toll on a relationship as a a sexual infidelity.

Couples often fall into financial infidelity when they are not honest about how they spend money, or don’t discuss the strain that finances can put on a relationship.

One person may be overspending and going behind the other’s back by getting cash back at the grocery store and using it for personal items, operating bank accounts that the other person doesn’t know about, or any one of a number of things, some of which may seem inconsequential.

Often, the issue isn’t that one partner is withdrawing, say $20 without the other’s knowledge, it’s the spirit of deceit in which it’s done.

The Blowback

The blowback from this can be financial: when the “deceived” partner finds out what’s going on, they may feel entitled to make purchases of their own, further eroding the confines of a budget, not to mention trust.

It can also be relational as financial infidelity involves going behind someone’s back, covering your tracks, and not being honest with your partner, just like sexual infidelity.

Knowing how to deal with these struggles and understanding the differences between you and your partner when it comes to these things is crucial to a healthy, respectful relationship. Of course, this is easier said than done, especially if you haven’t pried into your financial history before.

A good place to start is by discussing your personal money habits, then taking a look at how money was dealt with in your past and in your family. You might be able to start drawing some conclusions about current behavior from examining your past.

How to Keep a “Financial 9/11” From Interfering In Your Relationships

Dr. Bonnie Eaker Weil — Wed, 15 Oct 2008 19:31:41 +0000

I’m calling the meltdown on Wall Street “financial 9/11.” With the stock markets plummeting more than they have in roughly two decades, with the bailout being denied, with banks being bought, people foreclosing, it’s easy to see how difficult times have become.

And this difficulty is spreading from out from Wall Street and Washington and trickling right down to the homes of many middle class Americans.

The One Thing People Fight Most About

Money is one of the things people fight about the most, and with families throughout the nation feeling the pinch of high gas prices, rising food costs, possible job loss, less discretionary income and much more, fights about finances are likely to increase. And, while it’s naive to think that a financial crisis won’t take a toll on a a relationship, you don’t have to let it control your life.

It’s always a good time to talk about family finances but with things fluctuating the way they are right now, it’s IMPERATIVE to talk about money with your significant other. This is specially if the responsibility for budgeting, investing and financial decisions typically fall on one person.

Both people need to know what’s going on, need to be able to give input and need to feel like can voice their concerns. If the burden is falling on one person, the added stress of an unstable market can lead to poor decision making, including financial infidelity, where one person is making decisions, purchases or withdrawals behind the other’s back as a way of mitigating the added stress they’re feeling.

They can also turn to other addictive behaviors including overeating, resort to taking sleeping pills to help them fall asleep when their mind is racing, or even turn to a sexual affair. Couples need to remind themselves that they’re in it together, and they need to focus on the importance of being honest and working as a team.

Don’t Panic!

The important thing is not to panic. Aside from working through finances as a couple, you should also take times to do other things with each other. Watch your favorite TV show (which is free entertainment!), cook dinner together, exercise together. You want to keep your relationship and your passion for each other strong through this period as there will be lots of other distractions that will be needing your attention.

Talk About Money

Now is a good time to use “Smart Heart Dialogue,” which I’ve mentioned in my book, Financial Infidelity. Smart Heart Dialogue helps you share your financial history with someone you’re becoming intimate with.

Many of these conversations can be triggered by a transition in a relationship like the financial transitions many couples find themselves in right now! Use that transition to be open and honest in finding out what you can about the other person’s view of money.

This type of dialogue would likely work well in Washington to a). have mitigated this crisis in the first place and b). help politicians come to an agreement in terms of what’s to be done next. When talking in terms of Smart Heart Dialogue, I have some sample questions, one of them being:

“I overspent while we were on vacation, can you lend me some money?”

The explanation I give seems especially fitting for the government’s current situation:

*The person asking for a loan may not take money and budgeting as seriously as you do. Or maybe you overspent too. Whatever the case, you need to evaluate how you deal with money, leisure activities and “spur of the moment” purchases.

The Brain/Credit Card Connection and Your Relationship

Dr. Bonnie Eaker Weil — Mon, 13 Oct 2008 16:33:10 +0000

You are likely carrying around an emotional connection, and therefore, baggage, you didn’t even know you had. It’s a connection between your brain and your credit card debt; between your thoughts and feelings and why and how you spend money. It helps explain your views on money and debt and why you react to these things in certain ways.

Knowing about these connections and your money patterns won’t excuse you from financial problems you might face, but you can help nip these problems, and any repercussions they might have, in the bud.

I call these brain/money connections the Biochemical Craving for Connection.” It starts when stress causes thrill-seeking behavior. The stress can be linked as far back as childhood but can also be due to recent pain or emotional distress.

The thrill-seeking behavior can be in the form of financial or sexual conquests and infidelities.

You’re looking for ways to self-medicate and to help calm stress levels down. At the same time, these indiscretions give you another kind of high and the cycle starts: Give into sexual or financial pressure to help relieve stress, feel a “high” for a moment, then return to stressful feelings about the situation. Eventually, the only thing that can help your problem is the problem itself!

Areas in the Brain That Communicate With Each Other

There are several areas in the brain that communicate with each other to influence emotion. When it comes to dealing with extreme behaviors such as addiction, infidelity and poor decision making, these areas may be involved:

*The limbic system is made up of several structures that work together to control emotion, hormonal secretions, moods and pain/pleasure reflexes.

*The hippocampus is a structure within the limbic system and plays a role in emotion. If this area is damaged, it can reduce your ability to distinguish safe and dangerous situation, leading you to seek out situations that may FEEL safe, but in reality, aren’t. Things like sexual affairs or financial infidelity.

*The ventral striatum and the nucleus accumbens help process satisfaction and happiness. These areas are also associated with assessing risk reward and gratification. When these areas aren’t functioning properly, people may get involved with addictive behaviors leading to things like gambling, affairs, etc., in order to stimulate pleasure responses.

For people struggling with things like debt and/or financial infidelity, it’s helpful to figure out if these areas of the brain are coming into play. It’s also helpful to figure out what types of stressors may have triggered the Biochemical Craving for Connection in the first place so you can deal with the root cause.

8 Ways You May be Betraying Your Lover

Scott and Stephen Petullo — Mon, 06 Oct 2008 18:45:17 +0000

Infidelity comes in many different forms besides having a sexual relationship with someone other than your lover, assuming you’ve agreed to a monogamous relationship with that person.

We’re often asked how romantic betrayal relates to spiritual tenets such as karma and personal destiny. In two words, a lot. Our long-term empirical research firmly indicates that everything you do and say will return to you, and usually not in the same lifetime.

The Big Picture

When looking at the big picture in relation to your love life, it’s important to realize that key circumstances and events, "good" and "bad," happen because that’s the way your soul (not your personality) planned them before birth so you can learn your lessons and grow spiritually.

However, you do have free will to make the most of every situation. You can also limit your future life karma by treating others as you want to be treated now. Below we list five ways you may be betraying your lover, possibly even without realizing you’re doing so.

1. Emotional Cheating

You have an emotionally intimate relationship with someone other than your spouse. You’re not sleeping with this other person, but still you have an intimate connection that you explore and nurture. If this sort of relationship isn’t acceptable with your spouse, then you are betraying them.

2. Fantasizing Outside the Relationship

You’re regularly fantasizing about someone else, even while in bed with your partner. If you and your partner have an agreement that it’s okay to do so, then fine, but beyond that, it’s a form of betrayal.

3. Disregarding Personal Health

You stop maintaining your health, take up unhealthy habits that cause your looks to deteriorate and, or otherwise are not making the most of your appearance and looking your best for your partner.

4. Decreasing Sexual Frequency

You limit the amount of sex between you and your significant other. Worse, you start to offer sex to your partner only under certain conditions, perhaps in exchange for something such as giving you more of his or her disposable income.

5. Cutting Off Your Partner

You cut off your lover emotionally or intellectually, or otherwise limit or sever vital human contact. Sure, relationships go through certain stages where you may change the way you relate, but to intentionally starve him or her of the type of emotional or mental contact you had prior is a form of betrayal.

6. Financial Irresponsibility

You are not financially responsible, spend more than you both make or have, and risk his or her good credit standing. Telling your lover he or she should be making more money isn’t an excuse for spending too much.

7. Just Pretending

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Is There Really an Infidelity Gene and What Does it Mean For Your Relationship?

Dr. Bonnie Eaker Weil — Sat, 04 Oct 2008 11:48:50 +0000

A new gene discovered by scientists is being called the “infidelity gene,” but what does that actually mean, and is the name truly rooted in the scientific discovery?

Scientists at Karolinska Institutet have found a link between a specific gene and the way men bond to their partners. The same gene has been previously studied in voles, where it has been linked to monogamous behavior in males, but this is the first time that a specific gene variant has been associated with male bonding.

The Genetic Link and How it Affects Relationships

The effect of this variation is relatively small, and it cannot be used to predict with any real accuracy how someone will behave in a future relationship.

Hasse Walum, postgraduate student at the Department of Medical Epidemiology and Biostatistics, and his team found that men who carry one or two copies of a variant of a particular gene linked to hormone receptors, allele 334, often behave differently in relationships than men who lack this gene variant.

According to the study, the incidence of allele 334 was statistically linked to how strong a bond a man felt he had with his partner. Men who had two copies of allele 334 were also twice as likely to have had a marital or relational crisis in the past year than those who lacked the gene variant.

There was also a connection between the men’s gene variant and how happy their partners were with their relationship.

"Women married to men who carry one or two copies of allele 334 were, on average, less satisfied with their relationship than women married to men who didn’t carry this allele", says Hasse Walum.

It’s Not All About Genetics

A related study was carried out several years ago, in which researchers focused on women who were twins and found that if one of a pair of twins had a history of infidelity, the chances her sister would also stray were about 55%. It found the tendency for both twins to be either faithful or unfaithful was strongest in identical pairs who have identical genes.

The executors of the study stressed that genes alone did not determine whether somebody was likely to be unfaithful. Much could be boiled down to social factors as well.

I’ve found similar things throughout my years as a therapist and believe that certain people ARE genetically predisposed to have a more difficult time being faithful. I call it the bio-chemical craving for connection.

Where Infidelity Comes From

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How to Keep the Money Mistress From Destroying Your Relationship

Dr. Bonnie Eaker Weil — Fri, 26 Sep 2008 19:05:41 +0000

Something as seemingly ‘harmless” as hiding a purchase you made from you partner is really not harmless at all. In fact, it’s a form of financial infidelity, and can lead to greater financial infidelities.

Bigger-scale problems of this nature often come during significant relationship problems that you may be having with your significant other. For example, if you’re aware of financial or sexual infidelities going on in your relationship, you’re likely to fall into some financial infidelities of your own, or succumb to the “money mistress.”

Examples of Financial Infidelity

A few examples of financial infidelity are:

*when one partner keeps money from a work bonus for themselves without telling the other person

*over-charging at drugstores or for groceries and keeping the cash

*when one person uses money or spending as a way of “keeping score”

Why People Succumb to Financial Infidelity

There are several ways to, and many reasons why, people fall into this type of behavior. The most basic and common can be when you’re already experiencing things like this at the hands of your partner.

It can be tempting to retaliate in similar ways. You may even be in a relationship where you’re aware of a sexual affair, and you’re using your bank account to “get back” at the other person.

One couple I worked with had this problem. The woman was aware of her husband’s affair (as he wasn’t really doing much work to hide it) so she would see the purchases he made for his mistress, would add up the cost of these purchases, and then buy something for herself that cost that amount. She used this behavior as a way of trying to make herself feel good, and as a method of getting back at her spouse.

Of course the person already engaging in financial or sexual infidelities isn’t in the right either, but by retaliating or spending behind your partner’s back, you’re also taking part in what I call a “PoP shot” – or a “Pissed off Purchase!” You’re fueled by anger towards the other person’s infidelities, whether they’re sexual or financial, and you decide to take action by using the bank account for leverage.

There are other versions of this situation that aren’t as drastic. I’ve seen cases where one partner overspends, and the other feels entitled to spend a similar amount, or in a similar way creating another type of money mistress. One key solution to the problem of a money mistress is to learn to fight fair. Don’t let money be your weapon.

Rules to Make Sure You Talk About Money

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Struggling With Power And Money In Your Relationship?

Dr. Bonnie Eaker Weil — Sun, 21 Sep 2008 11:12:32 +0000

In spite of feminism’s best efforts, in spite of our determination otherwise, decades of clearly defined gender roles can simply prove hard to undo, and women today may still be fearful of their wealth and power.

Subconsciously (or, even consciously) they don’t want to outshine men, because they know that men can feel obsolete when they’re no longer the breadwinner. In traditional gender roles, men may be more defined by money, therefore when they’re not the one bringing home the biggest paycheck, it can weigh on their ego.

Sometimes, it’s not only men who are conflicted when their role as breadwinner comes into question. Often, women are uneasy about this circumstance, if only subconsciously.

Money conflicts in relationships

The most common way these feeling manifest themselves in a marriage or relationship where the woman is making more than, or has just as much professional responsibility as, her male counterpart, is through conflict that centers on money.

No matter what stage of a relationship you’re in, there are tips and tricks to keep in mind in order to help minimize these struggles. Even if you’re still early on in a dating relationship and you’re unsure of who makes more, it’s nice to have these ideas in the back of your mind just in case the situation arises.

Money shouldn’t be the most important thing in a relationship, or in life, but it is often the most PROMINENT cause of struggle, even among friends.

What men can do if their significant other makes more money…

*Validate what she does professionally, since that is a big part of who she is, and she no doubt wants your support!

*Focus on the positives of your situation. You may have more free time, more entrepreneurial possibilities and freedom to take more financial risk

*Encourage her if she’s traveling for work or working late hours. Don’t contribute to the guilt she may feel

What women can do…

*Be his biggest advocate concerning the role your partner has professionally and in your relationship.

*Be discrete. Don’t brag about your earning power. This is something that should be done no matter WHO’S making more!

*Discuss money, but in the context of shared goals. Acknowledge that his paycheck is also helping you reach these goals

What to do together…

*Take turns paying the bills so it doesn’t feel like one person has the “financial upperhand.”

*Prioritize

*Negotiate

*Discuss any resentment immediately

*CREATE moments for fondness and appreciation.

Everyone struggles

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How To Talk About Money At Any Stage In Your Relationship

Dr. Bonnie Eaker Weil — Sat, 13 Sep 2008 13:50:14 +0000

Sometimes, talking about money is viewed as a necessary evil, but it is just that: necessary. Ideally, the subject of money should be initially broached very early on in the relationship – hopefully before you even cement your relationship by having sex!

It’s imperative to talk about your opinions, views, habits, etc. and although my time frame may seem extreme, who wants to go down the road to sexual intimacy only to have it torn apart by a struggle in the realm of financial compatibility?

This is where what I call “Smart Heart Dialogue” (or, the money language of love) comes in. It’s designed to help you share your financial history with someone you’re becoming intimate with.

When Money Conversations Begin

The conversation starters are usually in reference to a transition in a relationship, as that can often be where the rubber hits the road, financially, for many couples. Integrating your differences and views about money during a shift in a relationship can be difficult but is so important to the ongoing health of that relationship!

Understand that a person’s money habits can be ingrained in them from a very young age, and therefore are usually held to pretty tightly, even if that person doesn’t realize it!

As you transition through a relationship there are a few scenarios that lend themselves to talking about money. Here are a few:

Moving In Together

“If we move in together, do we split all the bills?”

*A mid life change like moving in together can be an ideal time to talk about expectations for how to deal jointly with finances outside of a marriage. It’s not usually best to combine everything right off the bat, and a good way to deal with this question can be to suggest having a “fund” that you both do contribute to equally.

It can be used for your fun activities. Then, you can make decisions together about that fund. This helps smooth the transition to possibly having more of your money in joint accounts one day.

Overspending And Loans

“I overspent while we were on vacation, can you lend me some money?”

And if you’re the person being asked for a loan, approach the subject carefully as you don’t want to seem judgmental toward the person who probably isn’t too thrilled about having to ask in the first place.

Money In A Committed Relationship

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What’s Your Imago? Huh?

Dr. Bonnie Eaker Weil — Mon, 08 Sep 2008 13:18:37 +0000

Imago, literally, is the Latin word for “image.” It was originally used in psychotherapy to refer to the unconscious image you’ve created which defines the type of partner you’re looking for. I use it to refer to the ideas you’ve created concerning money, and how those ideas play out specifically in a relationship.

When looking to fulfill your “imago” when it comes to a mate, subconsciously, you’re looking for someone that will “fill in the holes” left by your experience growing up and your parents, or to adults who were formative in your childhood , and you’ll be attracted to these traits right away on a subconscious level.

Your Financial Imago

A similar statement is true when it comes to your “financial imago.” Ideas about money that you’re carrying around from your parents and from your childhood WILL affect your relationship. Don’t forget, however, that you have control over HOW they affect it.

Just as “relational imago” tends to draw you to someone who possesses a number of qualities that you don’t, or excels in areas you feel you fall short (hey, opposites attract!), you’ll often be financially attracted to someone who has financial strengths where you have financial “holes," where you have unfinished childhood business.

In short, in some areas, you will likely pick a person that gives you the most trouble!

Your Financial Imago In Relationships

I studied under Harville Hendrix, who was the first to espouse the idea of relational imago and I’m applying his idea of Imago to finances in a relationship:

While you will always carry around your family money history, the things that trigger conflict about money are equally important. When dealing with finances in a relationship, you both have to understand the ways you’re prone to deal with money, and you have to have a road map for how you WANT to deal with money.

In other words, you have to know your weaknesses, and know how you’re going to deal with them. As you transition through life changes with your significant other, a big part of making that transition successfully comes from the way you deal with financial stressors as a couple.

Depending on your stage in life, and your stage in the relationship, there are a number of important questions you need to answer.

Important Questions To Answer

Things like: How do you feel about debt? How much debt do you have? Are you a risk-taker or are you risk-averse? Will the kids go to private school? Will we fund their college education in its entirety? Who will pay when we go out? How often will we go out and how often will we eat in?

Other Considerations

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Safeguard Your Relationship From Financial Affairs

Dr. Bonnie Eaker Weil — Sat, 09 Aug 2008 13:56:36 +0000

Just about everyone craves some sort of excitement in their life, and some people push boundaries to find it. Anything from skydiving to having a physical, emotional or financial affair.

If you’re lacking excitement in your relationship and are heading into dangerous territory (i.e., considering some kind of infidelity), know that wanting to seek the high that comes from a risky experience is normal, but how you handle the situation can make or break your relationship.

People are looking for novelty, for that dopamine high we get when we try something new and adventurous. Unfortunately, many people sacrifice a relationship they’ve worked hard to build on the quest for that high.

There are ways to recreate these feelings with your partner, eliminating the need to look outside your relationship. You know those feelings you had when you first met? That’s the newness and excitement you’re looking for. Bring new elements into your relationship, and help yourself fall back in love with your partner.

Consider agreeing to commit to a “contract” for financial fidelity. Here are a few things you should work out under this contract:

Make a decision to fall in love again.

Fidelity, both sexual and financial, results from intent to REMAIN in love. These types of commitments don’t just happen. A strong relationship may feel fun and exciting at first, but it’s not based on those feelings! It’s normal that these initial impulses start to fade, but you have to commit to growing your love stronger than it was before.

Treat each other like you did at the beginning.

Why does it seem to be the case that we only hurt the ones we love? We tend to show our “best selves” to the people who play less-important roles in our lives. Aside from learning to be nice to each other again, and learning to treat each other respectfully, bring back things that you did when you first met – and feel free to spice it up. Make these activities your top priority!

A touch CAN be magical!

It can get your hormones flowing and build attraction. Rediscover romance by bringing physical connection, at whatever lever you’re comfortable with, back into your life.

Give up your old money relationships

Just as you would have to do if you had an affair and decided to work things out with your partner, you must give up your old ways of dealing with money and re-map these problem areas with healthy habits.

To learn more about Dr. Bonnie Eaker Weil, visit www.DocBon.com.

Love, Sex, or Money? The Three Biggest Reasons Couples Fight and How They Can Be Avoided? (Video)

Paul Carlson — Mon, 07 Jul 2008 14:13:57 +0000

It’s a fact of life. Almost all couples fight!

Some arguments are mild and others are really knock down drag out fights where one or both partners come out breathless and wounded.

Not surprisingly, the reasons that couples fight aren’t all that different from couple to couple. They’re often the same!

While almost every couple argues and fights from time to time, regular fights can lead to serious discord in the relationship. Understanding why couples fight is the first key to stopping arguments in their tracks.

What are the biggest reasons that couples fight?

And can they be avoided?

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Compatibility

Some couples argue and fight because they’re simply not compatible with each other. Sometimes two people aren’t compatible with each other mentally or spiritually, and this can lead to lots of arguments. Often, these types of arguments will eventually lead to the end of the relationship because very rarely do two people with two totally different spiritual beliefs and mindsets work out.

More often, however, is sexual incompatibility. Whether you’re a novice who just can’t seem to get it right or someone with lots of experience in the sack who’s just gotten bored with the routine, if you and your partner aren’t hitting it off in the bedroom, you can have some serious issues out of the bedroom. Open up and talk to your partner about what you can do to ramp up the sex life or gain more experience. Don’t be afraid to incorporate new things!

Money

Many couples, especially married couples, argue and fight over money. In fact, money problems are the leading contributor to divorces in the U.S. Sometimes, there are issues over who makes more money or issues over who spends more money. If you’re having money problems though, you don’t have to resign yourself to a doomed relationship …