Helping ease the marriage money woes
Financial stress can lead to relationship stress
Updated: Tuesday, 29 May 2012, 3:27 PM CDT
Published : Tuesday, 29 May 2012, 3:27 PM CDT
Published : Tuesday, 29 May 2012, 3:27 PM CDT
AUSTIN
(KXAN) - A Wimberley couple, Jim Overschelde and Tambra Nelson, had
been happily married for 22 years, when they decided to see a therapist.
It was not a typical therapist, however. Discussions about spending often thrust the couple into an argument, and they were ready for that to change.
“Getting angry, not feeling heard. I want to put money in savings. Yes, but we have to pay off our debt…back and forth, back and forth,” said Nelson.
It’s a common problem for couples as money woes are often a major cause of marital stress and divorce, experts say. And, they add, that’s especially true in a down economy.
They say that’s why an increasing number of couples are seeking help from financial therapists, also known as money coaches. Overschelde and Nelson signed on with Austin money coach and certified public accountant Jennifer Jaime.
Jaime, whose office is in Austin, started with helping the couple compromise on some common financial priorities and goals. She also taught them how to track their spending carefully so every dollar is accounted for.
“It helps for me to come in and give that objective approach to say this is what I see from the outside looking in,” she said.
Jaime also helped them establish a language and boundaries that took the conflict out of discussions about money.
There are no certifications necessary for someone to claim to be a money coach because the field is still emerging. The Financial Therapy Association advises couples to choose a money coach they trust and who has a certification in a finance-related field.
Overschelde and Nelson did trust Jaime, and they say her advice paid off for them.
“We’ve made some substantial inroads into paying off our debt, putting money aside in savings,” Overschelde said,
Added Nelson: “Having a language that works helps, instead of pointing fingers at each other. It really does.”
The Financial Therapy Association says money coaches can charge from $50 to $350 an hour. Many times, experts say, they are willing to work within a couple’s budget.
source : http://www.kxan.com/dpp/news/local/austin/helping-ease-the-marriage-money-woes
It was not a typical therapist, however. Discussions about spending often thrust the couple into an argument, and they were ready for that to change.
“Getting angry, not feeling heard. I want to put money in savings. Yes, but we have to pay off our debt…back and forth, back and forth,” said Nelson.
It’s a common problem for couples as money woes are often a major cause of marital stress and divorce, experts say. And, they add, that’s especially true in a down economy.
They say that’s why an increasing number of couples are seeking help from financial therapists, also known as money coaches. Overschelde and Nelson signed on with Austin money coach and certified public accountant Jennifer Jaime.
Jaime, whose office is in Austin, started with helping the couple compromise on some common financial priorities and goals. She also taught them how to track their spending carefully so every dollar is accounted for.
“It helps for me to come in and give that objective approach to say this is what I see from the outside looking in,” she said.
Jaime also helped them establish a language and boundaries that took the conflict out of discussions about money.
There are no certifications necessary for someone to claim to be a money coach because the field is still emerging. The Financial Therapy Association advises couples to choose a money coach they trust and who has a certification in a finance-related field.
Overschelde and Nelson did trust Jaime, and they say her advice paid off for them.
“We’ve made some substantial inroads into paying off our debt, putting money aside in savings,” Overschelde said,
Added Nelson: “Having a language that works helps, instead of pointing fingers at each other. It really does.”
The Financial Therapy Association says money coaches can charge from $50 to $350 an hour. Many times, experts say, they are willing to work within a couple’s budget.
source : http://www.kxan.com/dpp/news/local/austin/helping-ease-the-marriage-money-woes
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