If success is a turn-on, then the hot power couples in Hollywood must be lusting after each other to no end. These may be two-income households, but both halves can hold their own in millions. The jury is out on who tends to pick up the check, but Forbes has declared which pairs fit the bill as the top-earning couples in Hollywood.
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My best friend is in her first few months of blissful marriage and she and her husband are busy planning their first holiday season as newlyweds. The plan is to visit his family on the East Coast, but because of an unpredictable income in a weak economy, she has been considering staying at home in California while her husband travels east.
She is fine with spending the holidays apart, but knows that the family wouldn’t take the news well if she sat this season out, so she’s being a (reluctant) trooper and spending the dough.
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While this episode of Maxed Out was filmed many months before the recent slew of economic news, the home equity credit trouble the couple has in the show is connected to what's going on today: According to The New York Times, Americans owed about $593 billion in home equity loans in 2003, but the current related debt is $1.1 trillion. The couple in this Maxed Out, Rhonda and Les, make a combined income of $104,000 but they've used up their total $100,000 home equity credit line and don't have a penny in savings.
When financial guru Allison Griffiths asks the couple why they came to her for help, Rhonda doesn't skip a beat with her answer that "he spends too much," to which Les turned the pointed finger back around.
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One recurring, slightly-heated discussion in my home revolves around cars. Am I a car person? Definitely not.
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There's nothing romantic about money. It can buy lovey-dovey getaways and tokens of our affection, but money in itself is a topic that brings a business aspect to relationships. This element doesn't have to detract from a relationship based on love, but it often does, and Tara Siegel Bernard of The New York Times argues that "marriage at its core is still a financial union."
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Prenuptial agreements are traditionally designed to dictate what will happen with a couple's finances in case of divorce, and now they're expanding to include some clauses for other money-related issues.
Health care is something that's already pushing some couples to the altar; in just the past year, seven percent of adults in the US married for health insurance. Insurance doesn't come cheap and it can be difficult to find good coverage that isn't very expensive — that's why some couples are designing prenups with a clause allowing for continued health insurance should they divorce.
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Dear Savvy,
My fiance and I combined our finances shortly after we got engaged last August, and I am in charge of managing our money. We're getting married in November. Right now, we pay everything we can with a credit card.
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This episode of Maxed Out is about Sondra and Ashton, a couple who has been living together for about a year and share careers in counseling but have opposite money habits. Sondra is 28 years old and Ashton is 25, and while he is taking trips with the money he's saved she is tinkering on the edge of bankruptcy.
Ashton's saving ways have put him in a good financial place but Sondra's spending tendencies have put her $56,000 in debt.
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In her New York Times column "A Conflict That Came in the Mail," writer M.P. Dunleavey divulges a recent incident with her husband. She thought their financial communication was healthy until she made a small discovery: "My happy little financial harmony bubble went pop the other day, however, when my husband acknowledged that for the last couple of months, when he picked up our mail, he had been chucking all my catalogs in the trash."
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Breaking up is rarely uncomplicated, but the stakes rise considerably when one person in the relationship has made financial sacrifices for the other. Rosemary Shell took a substantial pay-cut when she moved from Florida to Georgia to be with her then fiancé Wayne Gibbs. She earned $81,000 a year, plus a 15 percent bonus at her previous job and her new position in Georgia paid only $31,000 a year.
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