Can You Change Someone’s Financial Behavior?

by Neal Frankle, CFP ®

finance behavior

Can you change someone’s financial behavior ? I gave a talk a few weeks ago and a woman asked me how to do this. Her financial situation was rocky. She had lost her job, her debts were climbing and she desperately needed to get out of debt. On top of this, her husband kept pretending nothing was wrong.

She told us they had been married for 18 years and he never acted responsibly when it came to the subject of money. He spent what he wanted to spend and, to make matters worse, barely made any income.

I was at a loss for words – a rare occurrence.

Outside of filing for divorce, what would you suggest she do? Have you ever been confronted by a situation like this? What worked? What didn’t?

After you’ve chimed in, check out the following articles and carnivals. I found quite a few thought-provoking ideas among them:

Carnivals worth checking out:

Money Hacks

Carnival of Personal Finance

Jim at Bargaineering wrote about what he learned about money from his dog.

Cash Money Life opened my eyes to a new rival to eBay

Five Cent Nickel has some ideas on how to pay off your mortgage early.

Free Money Finance asks what were the best financial moves you’ve ever made.

Frugal Dad wants to know how much cash you carry around - he’s asking for a good reason.

The Oblivious Investor takes on Yahoo Finance with a discussion about diversification. Guess who wins the argument?

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Photo by Silvain de Munch, Flikr

 

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