Episode 229: Tightwads and Spendthrifts with Author Scott Rick

Women's Money Wisdom

The way you or your partner spends money can have real impact on your relationship. In this episode, Melissa Joy interviews Scott Rick, author of the book 'Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships.' They discuss the different approaches people have towards spending money and how it can impact relationships. Scott defines tightwads as individuals who experience distress and anxiety when thinking about optional purchases, while spendthrifts are more present-oriented and tend to regret their purchases later. They also explore strategies for navigating financial differences in relationships, such as having joint accounts and setting tiebreaker rules for spending decisions. The conversation concludes with a discussion on the influence of parents' spending habits on their children and future research topics in the field.

Listen and Learn:

• Strategies to navigate financial differences and how set rules for spending to help with decision making
• How parents spending habits can influence their children’s financial behaviors and how it is important to be mindful of the messages we send about money to our kids
• When it comes to financial psychology, we explore topics such as prenuptial agreements and how couples can better resolve financial disputes.

Resources:

• Purchase Scott’s book: Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships
• Connect with Scott on LinkedIn
• Follow Scott on Twitter
• Learn More About His Research

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Chapitres

1. Episode 229: Tightwads and Spendthrifts with Author Scott Rick (00:00:00)

2. Money Mindsets in Relationships (00:00:01)

3. Navigating Money Mindsets in Relationships (00:06:52)

4. Generational Money Mindsets and Influence (00:20:22)

5. Power of Emotions in Money (00:31:39)