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Dec 19, 2023

Spendthrifts and tightwads represent opposite ends of the financial spectrum. A spendthrift tends to be more liberal with spending, often embracing a carefree attitude toward financial matters. On the other hand, a tightwad tends to be more frugal, prioritizing saving and cautious spending. Navigating these distinct financial personalities can pose challenges in a partnership, requiring thoughtful communication, compromise, and understanding to create a balanced and harmonious approach to shared finances.

In this episode, we delve into the intricacies of these differing financial approaches, offering actionable strategies to foster collaboration between spendthrifts and tightwads. From exploring joint accounts with individual freedoms to deciphering the art of thoughtful gift-giving beyond monetary values, the conversation provides practical insights. By emphasizing the delicate balance between shared financial goals and individual autonomy, the episode aims to equip couples with tangible steps to navigate the complexities of money matters. Tune in for valuable guidance on building financial harmony and strengthening communication in relationships marked by diverse spending tendencies.

Dr. Scott Rick is the author of Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships. He is a marketing professor at the University of Michigan’s Ross School of Business and holds a PhD in Behavioral Decision Research from Carnegie Mellon, where he was a National Science Foundation graduate research fellow. His research on consumer behavior has been covered in outlets such as The New York Times and The Wall Street Journal. He has published in premier journals spanning marketing, psychology, and economics.

Check out the transcript of this episode on Dr. Jessica Higgin's website.

In this episode

5:49 Scott Rick’s journey into exploring spending orientations shaped by spendthrift influences.

10:17 Navigating the dynamics of tightwads and spendthrifts in relationships: Understanding protective strategies and attraction.

20:18 Financial continuums, tensions, and the concept of financial translucency.

26:05 Balancing financial transparency: Navigating autonomy, trust, and communal approaches in relationships.

36:19 Unlocking the art of gift-giving: Thoughtful gestures, sacrifice, and relationship enrichment.

Mentioned

Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships (*Amazon Affiliate link) (book)

The 36 Questions That Lead to Love (*The New York Times link)

Relationship Map To Happy, Lasting Love

Shifting Criticism For Connected Communication

Connect with Dr. Scott Rick

Websites: scottrick.com

Twitter: twitter.com/scottianrick

LinkedIn: linkedin.com/in/scottianrick

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Email: jessica@drjessicahiggins.com

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*With Amazon Affiliate Links, I may earn a few cents from Amazon, if you purchase the book from this link.