Is Your Spouse an Asset? image

Is Your Spouse an Asset?

Have financial freedom AND a positive relationship!

If you stop working today, how long can you survive financially? And I’m talking about on your own without receiving money from a spouse, boyfriend, partner, friend, or anyone else. If you have no idea, it’s time to increase your financial I.Q. and change your situation.

Now is the best time to pursue financial freedom. In a recent, Wall Street Journal article entitled, “Renting Prosperity,” it explains how we are a nation of renters. People are renting everything from homes to cars to books, and more to increase their wealth.

In fact, I mention a story in It’s Rising Time! about this. A lady named Marilyn loved designer handbags, but she couldn’t afford them anymore. So what did she do? She created a business to rent them out, and today, she makes a nice, monthly profit from her small boutique of rental handbags.

The point is to be creative and stop thinking like the status quo. There is always opportunity when you have a financial education. And I know that some of you may be fearful and hesitant to pursue your financial freedom dreams because of your significant other.

Is your spouse a liability or an asset?

If you asked your spouse to take an accounting, real-estate investment, or other, financial class with you, what would he say? Hopefully, he would be supportive and want to work with you to secure your financial future together. After all, if you’re going down one path and your spouse is going down another path, it’s going to be very, very difficult when it comes to you and your money.

And I know there are a lot of spouses out there who are big liabilities. But if you’re in a bad relationship with an unsupportive partner…

Don’t let that stop you! Do it anyway!

Get a financial education. Pick up a book, go online and look at the information that’s out there. Get started now, and take action.

And if you are planning to get married and not sure if your future spouse will be an asset or a liability, play the CASHFLOW® game together because you’ll see behavior you’ve never seen before. It’s amazing when you put people in a game environment… their true behavior comes out, and you’ll see their financial habits on that game board.

A couple that studies and gets rich together, stays together

This is the mantra Robert and I have had for a long time about marriage and money. Most couples fight over money, and why would you want to fight with someone you love over something dumb like money?

Plus, being married can actually make you wealthier. A study of about 9,000 people by Ohio State University’s Center for Human Resource found that “divorce reduces a person's wealth by about three-quarters (77 percent) compared to that of a single person, while being married almost doubles comparative wealth (93 percent).”

Getting a financial education gives you the opportunity to do something together. If you and your spouse are an asset for each other, you can learn together, grow together, make money together, invest together, get cash flow together, and more. It’s actually a lot of fun. And while the journey to financial freedom is not rocket science, it does take time and effort.

With this in mind, what are you and your spouse going to do today to increase your financial education together?

For help getting started on your path to financial freedom, check out our free, online community here.

Original publish date: July 26, 2012