By Karin Mizgala, Co-Founder and CEO Money Coaches Canada
Meet Marisa and Anthony
Marisa was a 35 year-old, self-employed, physiotherapist when we met. She and her husband, Anthony, a high school teacher, have two children, who were ages four and six at the time. The couple wanted to buy a house, but instead, they were living with Marisa’s parents, arguing about money— largely due to a bankruptcy that Marisa was going through. At times they wondered if their marriage would survive. Their story is real, but we’ve changed their names to protect their identity.
Until her bankruptcy, Marisa believed that her financial life was hers alone to manage.
“I was raised to be a very independent woman,” she says. “I never even considered having a joint bank account with my husband.”
But without open communication, her husband was in the dark about her business struggles. When Marisa went bankrupt, Anthony lost trust in her, which just increased the stress and tension in their life. She knew that if she didn’t gain control of her money, her marriage would fail.
She needed to get clear about where her money was going. Her personal and business expenses were mixed-up together instead of in separate accounts. What she was clear on, was that she needed help. Continue reading