They increased their savings rate slowly We didn t start saving 70% of our income overnight, Amon said on the podcast. Like most American families, they had expenses like car payments, a mortgage, and bills that kept them from saving a huge chunk of their income. Before we really got intentional about our saving and investing, we were investing and saving about 10 to 15% of our income, Amon said. But when we got intentional about it . we realized that there were a lot of things that we can start to save on.
It took them a little while to pare down their expenses and identify priorities. We just tried to focus on getting 1% better, said Amon.
It s the classic opposites attract pattern. Someone who is anxious and likes to have control, for example, will often partner with someone who has a happy-go-lucky it s going to be all right attitude, she said. Those mentalities can bleed into every area of their financial lives, affecting communication and decision-making.
But in Clayman s experience coaching couples with these very issues, there s an obvious sign they re going to be able to overcome them: They re paying attention.
Couples who have a mutual awareness of their money are the most successful
Clayman said one of the biggest money obstacles people face is a habit of avoidance not checking your account balance, not bringing up financial concerns with a partner, not knowing exactly how much you spend each month, and the like. Avoidance is one of the primary coping mechanisms for managing anxiety, she said, and it s very difficult to overcome.