Tips for talking about money with your honey - WKOW 27: Madison, WI Breaking News, Weather and Sports

Tips for talking about money with your honey

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WASHINGTON (WKOW) -- Money always tops the list when it comes to problems between couples, not to mention the stress it puts on singles.

We've got you covered on how to make sure financial struggles don't bankrupt your relationship.

Paige Buck and her husband are happily married homeowners. But when it comes to discussing bills and budgets Buck says, "everything would result in arguments or frustration or tears."

The couple needed help expressing their financial feelings, so they saw a financial therapist.

"We weren't happy with the way we talked about money, or the decisions we were making," Buck said.

Financial therapy, also known as "money coaching," is gaining popularity with couples and even singles.

Saundra Davis with the Financial Therapy Association says it's the basic understanding that feelings and finance go hand-in-hand.

"Financial therapy is the place where money and our personalities connect, when there's a difference between what we know and what we do," Davis said.

Money Coach Olivia Mellan says a good financial therapist will identify and treat the emotional blocks that prevent you from putting a financial plan into action.

"Overspending, money avoidance, money worrying, excessive hoarding and Saving, inability to communicate about money," Mellan said.

For Buck, communication was key. She and her husband realized they felt guilt over spending.

"My husband and I would look at each other and be like, 'I didn't know you felt that way!'" Buck said.

After seeing Davis, Buck feels financially, and emotionally, healthy.

Davis says financial therapy can cost anywhere from $50 to upwards of $350/hour, depending on your needs. The good news? Many therapists are willing to work around your budget, so don't be afraid to ask questions.

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