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Dr. Phil's Money Strategies

If money disagreements are negatively affecting your relationship, try Dr. Phil's five steps to developing financial and marital harmony.

1. Develop Emotional and Behavioral Integrity
You simply cannot solve emotional problems with money.
Don't hide your spending habits from your spouse.
Bypass your attitude of entitlement. Don't justify purchasing something that you can't afford.

2. Get Real! Don't Live a Fairy Tale
Get real about how much money you have.
Be honest with yourself about why you do what you do.
Tell yourself the truth: what's really behind your buying habits?

3. Negotiate Parameters, Negotiate Priorities
You and your partner must agree on common financial concerns and spending limits.
If you live within these boundaries, you won't have to feel guilty when you do buy something.

4. Ask Yourself Hard Questions
If you've made a bad decision, that doesn't mean you have to perpetuate it. Don't continue life patterns that aren't working for you.
We take for granted how much we spend on housing, cars, and groceries. Are you spending within your budget?
You can scale down if you require yourself to do so.

5. Set Goals, Take Pride
Evaluate your budget, do the math, and set a financial goal.
Create a plan and a timeline. Stick to it!
Find your reward in seeing how your self-control pays off in the long run.

From the show Dr. Phil on Marriage and Money
Watch AFTER THE SHOW
How Dr. Phil spent a "fortune" and didn't even know it!
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