# Personal Finance: How to talk to your partner about money

An episode of [Personal Finance with Warren Ingram](https://invisiblenetwork.ai/podcast/1075744322), 12 May 2026, 18 min.

Audio: https://traffic.omny.fm/d/clips/5dcefa8e-00a9-4595-8ce1-a4ab0080f142/1ecba37a-6d83-4ee9-a295-a57100b7f2df/31275ce6-4c87-4ab0-a360-b44801293e13/audio.mp3?utm_source=Podcast&in_playlist=8be69053-e7ba-4c54-87a1-a63a00c79838

Stephen Grootes speaks to Warren Ingram, financial adviser and co-founder of Galileo Capital, about why money is one of the most common causes of conflict between couples, and why avoiding the conversation only makes things worse. With different money beliefs shaped by our upbringing and experiences, those differences can quietly build into bigger issues, but open and honest discussions can turn finances into a shared strength rather than a source of tension. The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape. Thank you for listening to a podcast from The Money Show Listen live Primedia+ weekdays from 6 pm to 8 pm (SA Time) to The Money Show with Stephen Grootes broadcast on 702 https://buff.ly/gk3y0Kj and CapeTalk https://buff.ly/NnFM3Nk For more from the show, go to https://buff.ly/7QpH0jY or find all the catch-up podcasts here https://buff.ly/PlhvUVe Subscribe to The Money Show Daily Newsletter and the Weekly Business Wrap here https://buff.ly/v5mfetc The Money Show is brought to you by Absa Let's keep the conversation going online: 702 on Facebook: https://www.facebook.com/TalkRadio702 702 on TikTok: https://www.tiktok.com/@talkradio702 702 on Instagram: https://www.instagram.com/talkradio702/ 702 on X: https://x.com/CapeTalk 702 on YouTube: https://www.youtube.com/@radio702 CapeTalk on Facebook: https://www.facebook.com/CapeTalk CapeTalk on TikTok: https://www.tiktok.com/@capetalk CapeTalk on Instagram: https://www.instagram.com/ CapeTalk on X: https://x.com/Radio702 CapeTalk on YouTube: https://www.youtube.com/@CapeTalk567 See omnystudio.com/listener for privacy information.

## Transcript

[0:00] Speaker 1: For the Money Show Personal Finance with Warren Ingram Don't forget,
[0:05] Speaker 1: of course, Warren Ingram is a certified financial planner at
[0:08] Speaker 1: Galileo Capital and tonight we'ren' You're a Brave man? How
[0:12] Speaker 1: to talk to your partner about money? And Warren I
[0:16] Speaker 1: made the point earlier in the program. If you talk
[0:18] Speaker 1: to counselors, they will tell you, you know, marriage relationship counselors,
[0:22] Speaker 1: they will tell you everybody knows this. The thing that
[0:25] Speaker 1: people can fight about the most is money. What is
[0:28] Speaker 1: it about money that makes people fight so much?
[0:31] Speaker 2: I think it's one of those very sensitive areas where
[0:35] Speaker 2: a lot of us have, you know, a lot of
[0:38] Speaker 2: bad psychology linked linked to money, and often it's tied
[0:42] Speaker 2: to things like a sense of shame and embarrassment, you know,
[0:46] Speaker 2: especially if you arrive in a relationship where you know
[0:49] Speaker 2: you might be carrying some of the debt and and
[0:51] Speaker 2: your partner isn't, and so it becomes a very sensitive
[0:55] Speaker 2: subject and I think a lot of the time people
[0:58] Speaker 2: just don't talk about it. You know, this sort of
[1:01] Speaker 2: massive elephant in the room, and everyone tiptoes around it
[1:04] Speaker 2: feeling either hurt or you know that there's an unfairness
[1:07] Speaker 2: or a sense of shame, so unfortunately it becomes one
[1:10] Speaker 2: of the very big causes of separation and relationships. I
[1:14] Speaker 2: think it's that and supporting very different sports teams.
[1:18] Speaker 1: So I mean it's also about how people you can
[1:21] Speaker 1: share a life. You you you sort of don't know
[1:24] Speaker 1: each other as well as you think you do when
[1:26] Speaker 1: you get together, and suddenly things can be quite complicated.
[1:31] Speaker 1: Do do money conversations always have to be difficult.
[1:37] Speaker 2: I think there always have to be. I guess you
[1:39] Speaker 2: need to start, and I think it's it's like any
[1:42] Speaker 2: good habit, sometimes it's quite tough just to start, and
[1:46] Speaker 2: and so kicking off with with with that first conversation,
[1:50] Speaker 2: it can seem very awkward and uncomfortable, and and I
[1:55] Speaker 2: think maybe it's it's a case of just being open
[1:58] Speaker 2: and honest together and saying we need to, you know,
[2:01] Speaker 2: we need to have a planning conversation about our future.
[2:03] Speaker 2: And it's a it's a building conversation about how we
[2:06] Speaker 2: build a life together. So it's not about who's doing
[2:09] Speaker 2: it better or worse, or you know, who's bringing what
[2:12] Speaker 2: to the party. It's about how we as a team
[2:15] Speaker 2: as a unit, how we're going to build our lives together.
[2:18] Speaker 2: And and so you know, if we if you start
[2:20] Speaker 2: on that footing, you know, hopefully both of you are
[2:23] Speaker 2: but less defensive about things, and and you know, you
[2:27] Speaker 2: start to try and do it as a very constructive
[2:29] Speaker 2: conversation and then it can be easiest even but but
[2:32] Speaker 2: I think it gets easier with practice and with time.
[2:35] Speaker 2: I'm not going to fib and say the first one
[2:37] Speaker 2: is going to be a walk in the park. It
[2:39] Speaker 2: probably won't be.
[2:40] Speaker 1: Ah fights about money actually about money, I mean, can
[2:44] Speaker 1: they be? I mean, money is a symbol. It's about
[2:47] Speaker 1: so many other things, and it means so many other things.
[2:51] Speaker 1: It symbolizes things. This is not always about money.
[2:55] Speaker 2: No, I think it's You're exactly right, So I think
[2:58] Speaker 2: it's always there's the issue behind the issue. So we're
[3:02] Speaker 2: going to have an argument about you know what, what
[3:06] Speaker 2: you spent on a shirt or you know what you
[3:09] Speaker 2: spent on on getting extra takeaways, whatever it is. But
[3:13] Speaker 2: it's you know, the reason is, you know, probably a
[3:16] Speaker 2: bit deeper and for some people that there's a deep
[3:19] Speaker 2: sense of insecurity around money. So they would attach, you know,
[3:24] Speaker 2: a sense of financial security and and a sense of
[3:27] Speaker 2: comfort once they're building assets and they're and they're accumulating
[3:31] Speaker 2: a nest egg and a safety net, and so any
[3:33] Speaker 2: any threat to that safety net can cause an ut
[3:36] Speaker 2: you know, sort of an outsized response. And and equally,
[3:39] Speaker 2: if one, you know, one person's you know, saving more
[3:43] Speaker 2: than the other one isn't that then the person who's
[3:45] Speaker 2: saving more might might feel a sense of unfairness or
[3:49] Speaker 2: or lack of respect from their partner about the things
[3:52] Speaker 2: that they think are important. So so often there's just
[3:55] Speaker 2: a whole lot going on behind that that initial layer,
[3:57] Speaker 2: and so that argument that that off over maybe a
[4:01] Speaker 2: relatively small amount of money is actually hiding a much
[4:05] Speaker 2: bigger thing, And it's important to try and get to that,
[4:08] Speaker 2: to try and understand how each of you attach emotions
[4:11] Speaker 2: to your money, so that you know how your partner
[4:15] Speaker 2: thinks and more importantly, how they feel about money. When
[4:18] Speaker 2: you do get to a situation where you have to
[4:20] Speaker 2: have a kind of a tough one about who's spending what.
[4:24] Speaker 1: I think often your first money conversations will come during
[4:28] Speaker 1: a period of financial stress. They kind of come when
[4:32] Speaker 1: you now have to talk about money, unless you you know,
[4:36] Speaker 1: may be very mature, when you're meeting for the first time,
[4:39] Speaker 1: and you talk about it, unlikely at time of stress.
[4:41] Speaker 1: But so your first meeting is because your first time
[4:45] Speaker 1: you bring it up is because you have to know
[4:46] Speaker 1: when that happens. You don't always pick the right moment.
[4:49] Speaker 1: You will feel, well, I'm under stressed, I need to
[4:51] Speaker 1: talk about this now. I can't sleep if I don't.
[4:54] Speaker 1: The other person's just come home, they're just exhausted, or
[4:56] Speaker 1: they're cross about something else. How important is it the
[5:00] Speaker 1: right time for the conversation?
[5:02] Speaker 2: Yeah, I think you should be sitting down and saying,
[5:07] Speaker 2: you know, let's say it's a you know, Tuesday night.
[5:10] Speaker 2: It's it's seven fifty five after just listening to the
[5:13] Speaker 2: Money Show, and you realize we've we've got some issues
[5:17] Speaker 2: to deal with you. That's not the time to have
[5:19] Speaker 2: the conversation. What you do at seven fifty five on
[5:21] Speaker 2: Tuesday is you say, let's agree to chat about this on,
[5:25] Speaker 2: you know, on Saturday morning or Sunday morning when it's calm.
[5:29] Speaker 2: You know, we're going to make ourselves a nice cup
[5:31] Speaker 2: of coffee and we're just going to sit and talk
[5:33] Speaker 2: about our future and how we're going to going to
[5:37] Speaker 2: work together to get somewhere. So it's choosing a time
[5:41] Speaker 2: and allowing both parties a bit of a bit of
[5:44] Speaker 2: time to prepare and to think and and and you know,
[5:47] Speaker 2: do it when they're you know, you've both had a
[5:48] Speaker 2: good rest and you're in a in a in the
[5:51] Speaker 2: right state of mind. You know, psychologically, we only get
[5:54] Speaker 2: to our rational brain when we're not in that fight
[5:57] Speaker 2: or flight state. So so if you're tired, or you're angry,
[6:00] Speaker 2: or you're stressed, then then unfortunately you're not rational and
[6:04] Speaker 2: and so you need to be calm to have that conversation.
[6:08] Speaker 2: And so I think, you know, agreeing to it and
[6:11] Speaker 2: doing it from a again very constructive frame of mind
[6:14] Speaker 2: both of you. You know, it shouldn't be a manipulative thing.
[6:17] Speaker 2: You should be saying, honestly, we need to build a
[6:19] Speaker 2: life together, and how are we going to do that.
[6:21] Speaker 2: Let's plan together, let let's let's agree on the exciting
[6:24] Speaker 2: things and and let's deal with the tough things, and
[6:27] Speaker 2: let's share those those burdens together, and then let's go
[6:30] Speaker 2: and see what we can do.
[6:33] Speaker 1: It does it help to schedule it and to sedule
[6:35] Speaker 1: it in advance, and what that also does, it doesn't
[6:40] Speaker 1: just get you both in the right frame of mind,
[6:42] Speaker 1: you can both bring what you need to bring to it,
[6:44] Speaker 1: by which I mean sometimes there are different things that
[6:48] Speaker 1: I might not know my wife is worried about. She
[6:51] Speaker 1: might not know I'm worried about this. You know, if
[6:54] Speaker 1: you come with a with you each come with your
[6:56] Speaker 1: topics prepared, you'll actually have a constructive meeting. You'll get
[7:00] Speaker 1: through it all. And I mean because you know each
[7:01] Speaker 1: other well, you'll get through it all, probably quite quickly,
[7:04] Speaker 1: but you won't miss anything out. You won't then have
[7:05] Speaker 1: to have another one the next weekend. Does it help
[7:07] Speaker 1: to prepare?
[7:09] Speaker 2: It does? And I think you're right to have a
[7:11] Speaker 2: scheduled as well. I think it's you know, it's something
[7:13] Speaker 2: where you would if you haven't had a conversation like
[7:15] Speaker 2: this before, you know, give it some time and you know,
[7:19] Speaker 2: maybe agree on the things that you're going to discuss.
[7:21] Speaker 2: So we're going to talk a little bit about where
[7:23] Speaker 2: we're going in the future. We're going to talk a
[7:25] Speaker 2: little bit about where we've been in the past, you know,
[7:27] Speaker 2: and and and the things that excite me around money,
[7:31] Speaker 2: the things that worry me, and then you know, what
[7:35] Speaker 2: we can do together. And I think you know, it's
[7:38] Speaker 2: it sounds like couple's therapy and it probably.
[7:42] Speaker 1: Yeah, yeah, we seem to have lost Warren Ingram just
[7:43] Speaker 1: as we're getting to the couple's therapy part of that conversation.
[7:47] Speaker 1: I think that line has dropped completely. Let's just see
[7:51] Speaker 1: if we are able to get him back. I don't
[7:53] Speaker 1: know if it's got anything to do with the storms
[7:55] Speaker 1: in the West and Cape perhaps, which have been quite
[7:57] Speaker 1: difficult for many people, because I know that's been an
[8:00] Speaker 1: issue for a lot of people. But thet's see if
[8:01] Speaker 1: we're able to get Warren back to continue the conversation
[8:06] Speaker 1: around how to manage your money as a couple and
[8:09] Speaker 1: how to do it properly and how to do it
[8:11] Speaker 1: in a way which is constructive. So perhaps we should
[8:14] Speaker 1: do that and we'll take that conversation, will continue the
[8:18] Speaker 1: conversation Personal Finance with Warren Ingram, how to talk about
[8:22] Speaker 1: money as a couple with your partner for the Money Show,
[8:25] Speaker 1: Personal Finance with Warren Ingram, thirteen minutes eight Warren, it's
[8:30] Speaker 1: a reminder that couples need to work on it. You
[8:33] Speaker 1: need to spend energy and time and make sure that
[8:35] Speaker 1: you talk to each other no matter what obstacles are
[8:38] Speaker 1: put in your way.
[8:40] Speaker 2: Absolutely and I think doing it in a very nice,
[8:43] Speaker 2: very constructive way is probably the most important thing that
[8:46] Speaker 2: you've got to do when you start this, and try
[8:49] Speaker 2: and do it from a point of understanding your partner
[8:52] Speaker 2: and where they are in this whole many conversations, because
[8:55] Speaker 2: I think understanding helps you to realize what's going to
[8:59] Speaker 2: trigger them. You know, when you're going in a direction
[9:02] Speaker 2: with money, either you know, oversaving or overspending, whatever it is.
[9:06] Speaker 2: And and equally, how you'll make them feel either a
[9:10] Speaker 2: sense of fairness or or you know, a sense of
[9:13] Speaker 2: comfort and security.
[9:15] Speaker 1: So we start with opening a banking app. You're suggesting no,
[9:19] Speaker 1: and in fact you were saying we should start talking
[9:20] Speaker 1: about values and not numbers exactly.
[9:24] Speaker 2: And and you know, maybe my favorite question is to say,
[9:28] Speaker 2: what what was money like growing up? When when you
[9:31] Speaker 2: were young, you know, what was it like in the family,
[9:33] Speaker 2: how did your parents think about money? And and what
[9:36] Speaker 2: does money mean to you? And and starting a conversation
[9:40] Speaker 2: like that helps you to understand where your partner's coming from.
[9:42] Speaker 2: You know, you probably might you know, you might have
[9:44] Speaker 2: some assumptions about what they think. But if you start
[9:47] Speaker 2: with conversations like that, and and maybe again to make
[9:50] Speaker 2: it constructive. You know, what do you hope our lives
[9:53] Speaker 2: look like in the in the next five years and
[9:55] Speaker 2: and where what what are your dreams for us as
[9:57] Speaker 2: a you know, as a family, And and that makes
[10:01] Speaker 2: it a much more constructive conversation because you will find
[10:03] Speaker 2: things that you share and dreams that you can share together,
[10:07] Speaker 2: and those are the things that you work on. You know,
[10:09] Speaker 2: when you have to make the trade off. So when
[10:12] Speaker 2: it's something difficult that that one person has to give
[10:14] Speaker 2: up that the other one, you know, doesn't care much about,
[10:17] Speaker 2: you're you're both working towards the one goal that you
[10:20] Speaker 2: do both care deeply about. And you know, if it's parents,
[10:23] Speaker 2: it might be around the education of the children. But
[10:25] Speaker 2: but then you start to have a very constructive conversation
[10:28] Speaker 2: and then you can go to the tougher things to say, Okay,
[10:31] Speaker 2: you know, don't we don't save enough, how a we're
[10:33] Speaker 2: going to make the trade offs, that that that are
[10:35] Speaker 2: okay for both of us to trade off, and that
[10:37] Speaker 2: both of us feel that this is as fair as possible.
[10:41] Speaker 1: I mean, I suppose you also want to understand where
[10:43] Speaker 1: someone thinks they're going and whether you're going in the
[10:46] Speaker 1: same place. But also often find with difficult conversations no
[10:49] Speaker 1: matter who it's with, sometimes start with the things you
[10:52] Speaker 1: know you agree on. Just remind each other of what
[10:54] Speaker 1: you agree on when it comes to money.
[10:57] Speaker 2: Yeah, I think it's powerful. And and also just you know,
[11:01] Speaker 2: just understanding that there isn't going to be one way
[11:05] Speaker 2: that suits everybody. You can't bring out, you know, a
[11:07] Speaker 2: textbook and say, according to this book, this is how
[11:10] Speaker 2: we're going to run our lives. You need to realize
[11:12] Speaker 2: that that you're going to run your lives in a
[11:15] Speaker 2: way that suits you both. And I think if you
[11:17] Speaker 2: do that, and you work towards your own strengths and
[11:21] Speaker 2: and kind of compensate for each other's weaknesses, that then
[11:24] Speaker 2: you start to go somewhere you have you have a
[11:26] Speaker 2: much more constructive, you know, relationship with each other around money.
[11:31] Speaker 1: You then have a different situation where you've got to
[11:34] Speaker 1: work out on a system that works for you. And
[11:38] Speaker 1: I mean I've spoken about this to other couples and
[11:41] Speaker 1: people seem to have vastly different ways of managing money
[11:45] Speaker 1: as a couple.
[11:47] Speaker 2: Yeah, and I think you've got to be very careful here.
[11:49] Speaker 2: So you know, someone might say, well, why don't I
[11:52] Speaker 2: just take care of all the bills. You know, let's
[11:54] Speaker 2: just put all the money into into one account and
[11:56] Speaker 2: I'll sort out everything. And they do it from a
[11:58] Speaker 2: place of love where there trying to take care of admin.
[12:01] Speaker 2: And it might feel that that's a very sensible, logical
[12:04] Speaker 2: thing to do, but you might miss out the fact
[12:07] Speaker 2: that your partner has real deep, you know, security issues
[12:10] Speaker 2: around money, and suddenly you've taken all their control away
[12:13] Speaker 2: from the thing that might give them a sense of freedom.
[12:16] Speaker 2: So you've got you've got to discuss what you do,
[12:18] Speaker 2: and you know, one of the options is you pull everything.
[12:20] Speaker 2: Another option is that you each look after your own
[12:23] Speaker 2: expenses and you pull some of the money and split
[12:26] Speaker 2: some of the bills, or you say, well, you know,
[12:28] Speaker 2: the way our earnings work is, you know, one person's
[12:31] Speaker 2: earning sixty percent while the other person's earning forty percent,
[12:34] Speaker 2: So let's divide our bills sixty forty year as well.
[12:38] Speaker 2: So the key is just find a system that works
[12:39] Speaker 2: for you both, but that you both feel is fair
[12:42] Speaker 2: and constructive. But certainly you have to have the conversation.
[12:46] Speaker 2: Don't let one person bear the responsibility or let them
[12:49] Speaker 2: take all the control. You know it control is a
[12:51] Speaker 2: horrible thing in a situation like this.
[12:53] Speaker 1: In the early days of my marriage, we kept changing
[12:56] Speaker 1: how we were managing money, and then we change to
[13:00] Speaker 1: a particular system, and then about a year later, I
[13:03] Speaker 1: said to my wife, do you know what, we haven't
[13:05] Speaker 1: changed it, So this is the one that works. I
[13:07] Speaker 1: think maybe you shouldn't be afraid to experiment and see
[13:10] Speaker 1: how it works out, and you'll come across the one
[13:12] Speaker 1: that works.
[13:13] Speaker 2: Yeah. I mean, you know, we're all we're all living
[13:17] Speaker 2: this life for the first time, and you know, we're
[13:19] Speaker 2: many of us in relationships for the first time, and
[13:22] Speaker 2: you know, adulting for the first time, all of those things.
[13:25] Speaker 2: So surely you can't start and expect to be perfect
[13:28] Speaker 2: on day one. And so I think the key here
[13:30] Speaker 2: is once you've got the principles of what's fair and
[13:33] Speaker 2: what's right, then you can say, well, you know, we
[13:36] Speaker 2: started on this path. It's not working, and you know,
[13:39] Speaker 2: let's see what we can tweak that still aligns with
[13:42] Speaker 2: our principles. And as long as both of you feel
[13:44] Speaker 2: it's fair, you know that then you can adapt and move.
[13:47] Speaker 2: But equally that you need to be communicating. You know,
[13:50] Speaker 2: I think you should be chatting about the stuff at
[13:52] Speaker 2: least once a month in the beginning, to make sure
[13:55] Speaker 2: that you are moving in the direction where you are
[13:56] Speaker 2: both comfortable. And I like what you said. You know,
[13:59] Speaker 2: if it's not working this way, let's try another way,
[14:01] Speaker 2: and eventually you'll find the thing that causes the least
[14:04] Speaker 2: friction and maybe eventually becomes the most rewarding.
[14:08] Speaker 1: It's amazing how different systems they are. Some people just
[14:11] Speaker 1: put all of their money into one account. Some people
[14:14] Speaker 1: keep separate accounts and they put money into a joint one.
[14:16] Speaker 1: Some people will split bills in different ways on a play.
[14:20] Speaker 1: Some couples where they one will pay the bond, one
[14:23] Speaker 1: will pay everything else. For example. One of the things
[14:26] Speaker 1: I find fascinating about it is people, once they've chosen
[14:30] Speaker 1: a system, will never understand why someone else uses a
[14:32] Speaker 1: different system. It shows you how much variety there is.
[14:35] Speaker 1: Everybody wants to do their own thing and it works
[14:37] Speaker 1: for them.
[14:38] Speaker 2: Yeah, yeah, it does. And I think that you know,
[14:41] Speaker 2: whatever system you choose, the anything I would say is
[14:45] Speaker 2: you need to be comfortable that both of you understand
[14:47] Speaker 2: how the whole system works, and and so you know,
[14:50] Speaker 2: the the unfortunate part of life is, you know, it's
[14:53] Speaker 2: very rare that both of you are going to die
[14:55] Speaker 2: at the same time. So if you've left one person
[14:58] Speaker 2: to kind of take care of the investment and the
[15:00] Speaker 2: other one's taking care of all of the bills, for example,
[15:02] Speaker 2: then then you know, if the person dies who was
[15:05] Speaker 2: looking after all the investments, then then the person who
[15:07] Speaker 2: is running the bills doesn't really know how their money works.
[15:11] Speaker 2: In one way, equally, the other person will have no
[15:14] Speaker 2: idea how the bills get paid. So it's good to
[15:16] Speaker 2: share the responsibilities a little bit. But you know, an
[15:20] Speaker 2: understanding of how you work and what you're good at
[15:22] Speaker 2: and what you're not good at is key, and then
[15:24] Speaker 2: then a solid base of communication to say this is
[15:27] Speaker 2: where all the information is. This is you know, we
[15:29] Speaker 2: know what we're doing collectively, although each of us has
[15:32] Speaker 2: our areas of responsibility.
[15:35] Speaker 1: You should talk about it regularly. It's a habit.
[15:38] Speaker 2: Yep, I think you do it. You know. My suggestion
[15:41] Speaker 2: is once a month. Eventually, when you're in a slick
[15:44] Speaker 2: kind of routine, you could probably make it a five
[15:48] Speaker 2: or fifteen minute conversation. But in the beginning, you know
[15:50] Speaker 2: it's going to be a bit tough, and it's going
[15:52] Speaker 2: to take a bit longer, and then I think once
[15:54] Speaker 2: a yeah, you know, have a big review and just
[15:56] Speaker 2: understand where you are collectively. You know, what are all
[15:59] Speaker 2: our assets, all our debts, you know what's our joint
[16:01] Speaker 2: income and our joint expenses. Are we still on track?
[16:04] Speaker 2: You know? So have the big meeting and then you
[16:07] Speaker 2: know you do that, you know once a year and
[16:09] Speaker 2: then eleven months of the year, you're having relatively short
[16:12] Speaker 2: sort of check in meetings, just to make sure that
[16:13] Speaker 2: you're both comfortable and sticking to the principles that you agreed.
[16:17] Speaker 1: All right, So talking about how to manage your money
[16:21] Speaker 1: as a couple, we have a question Warren from Lorrato,
[16:25] Speaker 1: and the Rato was saying, Hi, I'm thirty six years old.
[16:28] Speaker 1: I've got myself into a bit of a debt mess.
[16:30] Speaker 1: I have credit card debt at twenty two percent interest,
[16:32] Speaker 1: two store accounts, a small personal loan. After my rent,
[16:36] Speaker 1: my food, my transport and other essentials. I've got about
[16:38] Speaker 1: three and a half thousand rand a month left to
[16:41] Speaker 1: put towards debt, which is not enough to pay off
[16:43] Speaker 1: each of the debts. My bank's offered me a debt
[16:45] Speaker 1: consolidation loan. We'll combine everything into one repayment over five years.
[16:50] Speaker 1: It feels like it would give me some breathing, some
[16:52] Speaker 1: breathing room every month, but I'm worried I'll end up
[16:54] Speaker 1: running up the credit card and the store accounts again,
[16:57] Speaker 1: and then I'll be in an even worse position than
[16:59] Speaker 1: I am. We've just got a minute left, Warren should
[17:01] Speaker 1: Lorato take it.
[17:04] Speaker 2: I think it's not a bad idea if you understand
[17:06] Speaker 2: the interest that they're going to charge you. Hopefully it's
[17:09] Speaker 2: lower than your credit card, and you know it gives
[17:11] Speaker 2: you a bit of breathing room. But then you're going
[17:13] Speaker 2: to have to get a spending plan to make sure
[17:15] Speaker 2: you stick to some kind of an arrangement where you
[17:17] Speaker 2: don't overspend and get yourself into the credit card issues again.
[17:21] Speaker 2: So if it gives you the breathing room now and
[17:22] Speaker 2: it buys you some time, then go for it. But
[17:25] Speaker 2: you're going to have to learn some lessons about how
[17:26] Speaker 2: to control your money.
[17:28] Speaker 1: Warren Ingram, thank you very much, indeed, And of course,
[17:31] Speaker 1: the Ceridifed Financial Plan at Galileo Capital, Warren, thanks, And
[17:35] Speaker 1: that is Personal Finance with Warren Ingram will be podcast.
[17:38] Speaker 1: Of course, if there's any couple you know about to
[17:41] Speaker 1: get married, perhaps you might want to send it along
[17:43] Speaker 1: to them.

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