Get a Quote

Money disagreements can destroy families. Here’s how to prevent that from happening

Posted on September 6, 2021February 15, 2025 by Shield Insurance Agency

Michelle Fox |AUG 25 202112:06 PM EDT | UPDATED WED, AUG 25 202110:53 PM EDT | CNBC.COM | Money disagreements

Money disagreements over money can ruin relationships.

To be sure, families will not always agree on all financial matters. It is how you handle the situation that counts.

“Money is emotional,” said licensed marriage and family therapist Dr. George James, chief innovation officer, and senior staff therapist at the non-profit Council for Relationships.

“Try to communicate about money,” he added. “Don’t make it this thing that no one talks about.”

For Derek and Jocelyn Porter, who own a Philadelphia-based children’s entertainment business called D&J Costumes, it was a disagreement over whether to buy a new $60,000 car that brought them to a stalemate.

Jocelyn Porter, who appeared on CNBC’s “Money Court” along with her husband, wants to get a new Mercedes to replace her old car, which is having transmission problems.

“I have had my E350 Mercedes for the last five years,” Jocelyn Porter said. “It adds a touch of class and quality to my business.”

Click here for the rest of the story…

Check out recent blogs!

Life Kit Episodes That Will Bring You Closer To Financial Independence

Posted on August 18, 2021January 22, 2025 by Shield Insurance Agency

This story is adapted from the Life Kit weekly newsletter, which arrives in inboxes each Friday. Subscribe here.

Explore Life Kit

This story comes from Life Kit, NPR’s family of podcasts to help make life better — covering everything from exercise to raising kids to making friends. For more, sign up for the newsletter and follow @NPRLifeKit on Twitter.

From signing up for the right credit card to paying off debt to navigating a financial crisis — managing money is a lot easier with a little know-how. Here are seven of our favorite Life Kit episodes on common and confusing money topics, featuring personal finance experts who are eager to help you out.

Cut Down Miscellaneous Expenses

Trying on pajama pants at Target just for fun, swinging by an ice cream store, because it’s not the same as the pint I have in my fridge — I’ve been there. Personal finance expert Tiffany Aliche, “The Budgetnista,” recommends asking yourself whether you “Need it, love it, like it or want it” before springing for impulse purchases. If the gratification from a purchase will last less than one year, it’s just a “like,” and you might be better off skipping it to save up for something you’ll “love.”

Master Budgeting

When I moved into my first apartment out of college, I quickly realized that no one ever taught me how to budget. Author Kristen Wong points out that young adults shouldn’t feel obligated to budget just because it is what grown-ups do. Instead, she suggests holding onto a personal goal that you’re saving up for, like a weeklong trip, a new computer or dinner from your favorite restaurant. Here’s more on how you can budget to feel “liberated.”