Lisa offered her financial expertise to U.S. News & World Report for an article about stormy weather in relationships. Here are some signs to look for.
An article published by U.S. News & World Report earlier this year took a look at the signs of a financially unstable relationship. Lisa Jones has almost 30 years of experience in the financial services industry and she’s worked with couples, women and families, making her the perfect candidate to discuss issues she’s witnessed firsthand. Here’s what she had to say:
On the topic of open communication in a relationship, Lisa believes that the foundation of success with a partner is a shared vision. That’s why her first point of planning with couples is identifying and establishing goals. Of course, love conquers all, but aligning financial philosophies can bring longevity to a relationship.
“Couples have to have a shared vision, particularly when we’re identifying goals,” says Lisa D. Jones, managing director of the Prime Capital Investment Advisors Springfield, Missouri, market.
Once the vision and goals are in place, Lisa can put together a plan aimed directly at turning dreams and ideas into reality. When couples discuss financials together, Lisa also believes it’s important to bring up hypotheticals.
She suggests individuals try asking their partners questions like, “What would you do right now if you won the lottery?”
Lisa believes that honesty is everything in a relationship, especially when it comes to money. If one partner is keeping secrets or making unexplainable moves, that could be something to keep an eye out for.
“Most of us come from different money backgrounds. Look at the money modeling your potential partner came from,” Jones says. “If there’s secrecy around those areas, that’s a huge red flag.”
Dishonesty could also be a sign of other financially unstable or problematic habits that may be difficult to break. As in all other areas of life, lies typically mean that someone has something to hide, and they’re likely aware that you wouldn’t be thrilled if you knew the truth.
Some other red flags Lisa identifies include piled up bills, struggles with addiction, blissful ignorance, stacks of credit cards, suspicious circumstances, one-dimensional interests and mountainous debt.
Navigating the financial side of a relationship can be difficult, but having a proper plan in place to ensure that you follow best practices can keep your love life on track.
If you have any questions about financial planning as a couple, call Lisa D. Jones at 417.447.3500.
To read the entire article about the identification of financially unstable traits in your partner, click here.