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monday 07.16.07
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| .mergers & acquisitions |
When it comes to the business of your relationship, you want to keep it free of any hostile takeovers.
It's easy to get emotional over money, especially when it's about how you spend your lives together. But maybe you need to start thinking more strategically?
Certified financial planner Mary Claire Allvine and journalist Christine Larson show couples how to effectively merge and manage their assets and liabilities in The Family CFO: The Couple's Business Plan for Love and Money. The authors believe that you should run your home finances like a business, weighing all the facts and using common sense, not emotion, as a guide. Businesses thrive when co-workers come together as a team, so the stronger your partnership, the stronger your finances can be.
Written in a language that's easy to understand, with many anecdotes about other couples, Allvine and Larson outline a handful of business concepts that can work just as well in your relationship. Learn how to act as your own "Board of Directors," identifying and prioritizing your short- and long-term goals; or as accountants, keeping regular reports on how much you spend.
We know that money is the biggest source of arguments among couples. Allvine and Larson say it usually comes down to a matter of priorities--one person wants to spend the money on a trip, while the other wants to use it toward a down payment on a house. To help resolve the conflict, the authors suggest that you take out time to each write down your financial goals, and then agree on a time frame for achieving them.
As with any good business book, you'll find plenty of spreadsheets and planning tools that you can use.
Any year-end bonuses are up to you.
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