Simple Wisdom: Finance & Marriage

A few years ago, an area business man with a sizable net worth was asked, "If you could give one piece of financial advice, what would it be?" The inquirer's mind raced from stock tips, investment strategies, to career advice. The business man's answer was simple,

"Marry only once."

The advice was profound on a number of fronts:

First, financially. A broken marriage breaks financial traction. Compounding interest is not realized when dividing by two. It's one step forward, and twelve steps back.

Second, emotionally. A broken marriage is not only a financial kick in the pants, but a big emotional sucker punch right to the throat. Often times the stirred emotions drain the parties involved of financial energy & focus. A financial plan is interrupted and no energy remains to regroup.

Last, relationally. Money is not a solo act. It is very relational. Family members, friends, & colleges are all an integral part of your financial success. They provide influence, accountability, advice, & support. Your response to a relational breakdown with your spouse will often times carry over to your other relationships. Thus influencing their roles in your financial life.