Conscious Spending For Couples: Seven Skills For Financial Harmony

In this presentation, I will consider the book entitled Conscious Spending for Couples: Seven Skills for Financial Harmony. This is a book written by Deborah Knuckey which is geared not only towards couples who are already in a financial quagmire, but also for people who are early in the process of combining their financial lives.

The author presents a number of ideas that can help couples become clear on what they have, what they want, and how to go from what they have to what they want. Described in the book are the “Three Rules for Financial Harmony,” “Seven Skills for Financial Harmony,” and “Four Lifestyle Decisions That Make or Break Your Finances.” There is also a section about the different “money styles” that combine in a relationship. Combinations include the Spender/Spender couple, the Saver/Saver couple, and the most common; Spender/Saver couple. A test is provided to help you determine the money style of both you and your partner.

Developed by the author is the “Conscious Spending Model” which is an interesting take on what is recognized by most people as the Food Pyramid. There are a total of seven categories with “Security” at the bottom as the foundation of the pyramid. The next level up includes “Shelter” and “Sustenance.” The next level up is “Self and Family.” Above that is “Social” and “Society” and at the tip of the pyramid is the category “Soul.”

Putting together a budget or what the author calls a “spending plan” can be daunting to some people because it can be complex, but there also may be little motivation to do a budget because there seems to be little significance about what the figures actually tell you. The categories used in the Conscious Spending Model provide more meaning to the numbers. There can be more awareness on how money is spent and whether or not it meets the financial goals that have been set. Intriguing is the category “Soul” which, at the tip of the pyramid, is described as “All the added extras in life that fall outside the other categories and are consumed to add to the quality of life.” This category includes money spent on hobbies and vacations. Many people would consider this category lower on the pyramid as it would be perceived as more of a necessity than a luxury.

“Security” is defined as “Savings, investments, and insurance that ensure that you can weather financial storms and be financially independent in your later years.” By placing “Security” as the foundation of the pyramid, this model places an emphasis on what may be the most important factor to financial “peace of mind.” In these times when people are living beyond their means and given the uncertainty of the job market and the stock market; this model can help people better understand and plan for their financial future.

Thank you. May this book be influential in your life on your own road to success.