TERRE HAUTE —
Combine the expectation of divorce for new couples hovering around 50 percent with a variety of studies that suggest money is the most divisive topic for couples, and you get a formula for disaster. But one expert thinks it doesn’t have to be that way.
Jane Honeck, CPA and author of “The Problem With Money? It’s Not About the Money” believes that while a SmartMoney Magazine survey revealed that 70 percent of all couples talk about money at least once a week, the communication isn’t very effective. Honeck, who specializes in tax and financial planning for professionals, small businesses and individuals, has some good advice that can help couples make arguments about money a thing of the past.
“Focusing on an overall vision and money plan will keep both of you moving in the same direction,” she said. “Once you have done that, the small everyday decisions about what to spend your money on take care of themselves with little or no effort. When we have clear communication and know why we do something, the ‘what to do’ with our money is easy.”
Honeck’s tips include:
Talk, talk talk. Money like sex is still a taboo topic and we often don’t have a clear idea about how our partner thinks or feels about money.
Find balance. Balance power around money. One person making all the decisions and having all the control is a recipe for disaster. Find ways for you both to be equally engaged in all money decisions.
Make decisions. Decide together what is mine, yours and ours. Most couples have their own hybrid system for what works best. Find the one that is best for both of you.
Define your system. Have a clearly defined money management system all the way from who handles the mail to who sends out the checks. Without a well thought-out operational plan, things fall through the cracks.
Address problems. When things get tough, address problems immediately (no secrets allowed). Avoiding the issue only makes it more toxic and drives a wedge in the relationship.
Perform checkups. Schedule an annual money checkup with each other. Things change and just like our physical health, money management needs an annual checkup to keep it healthy and relevant.
Talk a little more. Talk, talk and talk some more. The most important thing is to have open communication with no blame and shame. We all have hang-ups around money. Treat your partner with compassion.
“At the end of the day, couples need not argue about money,” Honeck added. “And it’s not just about communication. It’s about making a plan, and sticking to it together. Information gives you power over your finances. Not talking about them, not making a plan and not coordinating as a team makes you a victim of your finances. If you control your finances, they will never control you or your marriage.”
Jobs
Author offers money managing tips to couples
- Jobs
-
-
Business advice: SCORE provides free counseling services, ‘expert opinions’
Even well-established Terre Haute companies — such as Neoteric Hovercraft — can benefit from the depth of business experience offered by SCORE, the Service Corps of Retired Executives.
-
ISU to host financial literacy workshop for teachers
Educators will visit Indiana State University to learn more about financial literacy education for students.
-
MORTON MARCUS: Wasted effort, wasted lives cannot be ignored
Somewhere in rural Indiana is a banker who can not see good in any proposal put before him unless he saw it previously. His posture is as rigid as his mind. How can his town expect to move forward with his hand on the money spigot?
-
Nothing to fear at socialsecurity.gov
Different people have different fears, and often Halloween seems to be a time to talk about them. Children may be afraid of monsters in the closet or creatures lurking beneath the bed. Teenagers may fear not fitting in with the popular crowd.
- ON THE MOVE: Oct. 23, 2011
-
State forest timber sales benefit 2 Valley counties
Sixteen Indiana counties are sharing more than $280,000 that the Department of Natural Resources is distributing from revenues generated by state forest timber sales.
-
Franchise Times ranks RE/MAX as top franchisor
For the third year in a row, RE/MAX was ranked as the No. 1 real estate franchisor by Franchise Times magazine. Results from the 2011 Franchise Times Top 200 Survey identify RE/MAX in the 15th position overall, far outpacing other national real estate brands and placing the company among such top franchises as McDonald’s, 7-Eleven and Subway. The rankings were primarily based on worldwide sales volume.
-
BUSINESS CENTS: Despite odds, smaller businesses finding ways to hang on
It is definitely a tough time to be a business owner right now.
-
Clark Business Expo is Nov. 13
Clark County Business Expo is planned from 1 to 5 p.m. Nov. 13 at Martinsville High School.
- NEWSMAKERS: Oct. 23, 2011
-
‘Queen of Free’ to share tips at Rockville library
Join the self proclaimed “Queen of Free,” Cherie Lowe, as she shares her favorite money saving tips and budget strategies to keep the happy in your holidays during a presentation at 6:30 p.m. Nov. 1 at the Rockville Public Library.
-
Hospital to break grounds on Cork Center
Union Hospital will break ground on the new Cork Medical Center at 10 a.m. on Wednesday at 410 N. Second St., in Marshall.
-
Ryves Neighborhood Association stages grand opening of Common Cents Quarter Store
The small store was packed as it opened for business, and organizers were optimistic their neighbors will see the sense in spending a few cents in the neighborhood.
-
Construction set to begin on Channel 10 facility
WTHI-TV Channel 10 is getting set to move from its longtime location at Ninth and Ohio streets to a new facility one block to the west.
-
Government transfer programs provide safety net
The wheels of our economic wagon began to wobble in 2007. In 2008 they came off.
-
First Financial Bank named one of world’s top 1,000
The Banker, a London-based investment and commercial banking journal, has again named First Financial Bank among the top 200 banks in America and in the top 1,000 banks in the world.
-
Report: Employment, wages paid by state nonprofits increased steadily
Buoyed by gains in the health services and education sectors, employment and wages paid by Indiana nonprofit organizations increased steadily in recent years, according to a new report by Indiana University researchers.
-
Ivy Tech trustees name new officers
The Ivy Tech Community College State Board of Trustees has named its new officers for 2011-12.
-
Newsmaker: August 21, 2011
Ed Pearce of Pearce Funeral Home of Marshall, Ill., was recently installed to the Board of Directors of the International Order of the Golden Rule at the annual conference in Atlanta.
-
Chamber remodels website
The Marshall, Ill., Chamber of Commerce has remodeled its website.
-
Forbes adds ISU to its list of tops colleges
Indiana State University has been recognized by Forbes magazine as one of the top colleges in the country.
-
ISU economist: U.S. can’t escape malaise in Europe
Economic thrashings battering Europe will continue churning the economy of the U.S., which is powerless to affect the situation, said a public policy economist at Indiana State University.
-
Have Lunch with a Lawyer on Monday
Senior Education Ministries, Inc. has scheduled Lunch with a Lawyer from 11:30 a.m. to 1 p.m. on Monday at the Wabash Senior Activity Center, at 300 S. Fifth St.
-
Mike Pence tax program: Good theater, bad policy
Scene one: Mike Pence, Republican, and his advisors lounge in air conditioning on a hot summer day.
-
Author offers money managing tips to couples
Combine the expectation of divorce for new couples hovering around 50 percent with a variety of studies that suggest money is the most divisive topic for couples, and you get a formula for disaster.
-
Brown opens east-side veterinarian clinic
Dr. Beth Brown has a new address … this time with her name on the sign.
-
Stadler’s barber shop to offer free haircuts
As the new school year gets under way, Stadler’s barber shop on the city’s northside will offer free haircuts Aug. 27 for boys in grades K-12.
-
Newsmaker: August 14, 2011
The Indiana State Museum, in collaboration with the Allen County Public Library, have a nationally significant collection of material related to Abraham Lincoln and his times.
-
NSWC Crane employees travel to Virginia
New employees, summer interns, and co-ops from Naval Surface Warfare Center, Crane Division traveled to Norfolk Naval Base in Virginia to tour their base facilities on July 25.
-
Vectren Energy to report news via Twitter
Vectren Energy Delivery is now providing company news and career opportunities via its Twitter feeds, @VectrenNews and @VectrenCareers.
- More Jobs Headlines
-
Britain Attack Believed Linked to Radical Islam
Okla. Teens Get Video of Deadly Tornado Overhead
Raw: Aftermath of Deadly Attack in London
Texas Students Coach Teachers on Fitness
Raw: Scuffles in London After Hacking Death
Man Shot While Questioned in Boston Probe
Chain-Reaction School Bus Crash Injures About 50
Meet MJ, the Bike Riding Tabby Cat
Johnson: Don't Blame Islam or UK Policy
Raw: Kevin Durant Tours Moore After $1M Pledge
New Forecasting Tool Eyed for Hurricane Season
Weiner Launches Bid to Become NYC Mayor
Today in History May 23
Wash. State Man Arrested Following Ricin Scare
School Storm Protection Spotty in Tornado Zones
Moore Native Toby Keith Tours Tornado Damage
Raw: 80-Year-Old Climbs Mount Everest
Today in History May 22
Oklahoma Survivors, Heroes Survey Damage
9-year-old Tornado Victim Loved Family, Singing
AK-47-wielding thug may be the most bumbling crook ever
Trout's cycle a boost for Angels
Raw: New Video of Deadly Oklahoma Tornado
Kim Kardashian Flaunts Pregnant Bikini Body in Greece
NBA star pledges $1M to help tornado recovery
Shakira's Shocking Talent
Morgan Freeman falls asleep on air
GRAPHIC: Blood-Soaked Machete Killer Caught on Tape
Elin Nordegren Furious With Lindsey Vonn For Parading Kids in Public
Camera Captures Climber As He Loses Grip And Falls
Helen Mirren Meets with Dying Boy in Queen Elizabeth's Place
Crowd Chants '¡Si, Se Puede!' After Passage of Immigration Bill
DWTS Crowns a Winner
Police Ram House to End Hostage Standoff
Demi Moore a Rocks Bikini at Harry Morton's Family House
Anthony Weiner: I'm running for New York City mayor
Kate Middleton's Dress Flies Up
VIRAL: Baby makes epic soccer goal
The Hangover Baby All Grown Up
