Grace Pomroy
Stuck in a Season of Waiting

Lately I feel like I’ve been stuck in a season of waiting. My husband and I have been dreaming of putting down roots in the Pacific Northwest since the first time we visited Oregon seven years ago. While we are just months away from making that goal a reality – we hope to buy a house sometime this summer – we are still in transition. In addition to waiting as we search for the right house, I spent the fall waiting to get an appointment with a doctor about a health concern I was dealing with, spent the winter waiting for medical tests, and am now spending the spring waiting to fully recover from surgery.

Stuck in a Season of Waiting
Grace Pomroy
How to Handle a Big Income Gap in Your ...

It’s not uncommon for couples to have an income gap between partners – in fact, it's the norm. According to data from Morning Consult and Insider, nearly three-quarters of Americans reported they had some income imbalance with their partner before they started dating. And while that imbalance can flip-flop as partners change jobs or receive a raise or bonus, at times it can be significant. This might happen when one partner retires, decides to go back to school, or opts to stay at home with the kids. This might also happen when one partner gets a big promotion or receives a large inheritance. How can you manage your finances so this imbalance in income doesn’t throw your relationship off balance? Consider these steps:

How to Handle a Big Income Gap in Your Relationship
Grace Pomroy
My 6 Favorite Money Psychology Hacks

I’m a big fan of the Financial Feminist podcast. A few weeks ago the host, Tori Dunlap, shared a money hack that she had heard about from another financial educator on Science Finance: Before making an impulse purchase, ask yourself: “How many ‘taco dollars’ does it cost?” That particular financial educator really loved tacos, so he judged each purchase by asking, “How many tacos could I buy for the cost of that item?” Concert tickets: 20 tacos. Cupcake: 1 taco. Fancy hotel stay: 83 tacos. Then, he would ask himself: “Is it really worth that many tacos?”

My 6 Favorite Money Psychology Hacks
Grace Pomroy
The Power of the Icebreaker (Part 2)

My last post on things that can jumpstart your financial life in 5 minutes or less got me thinking  about one of the most effective steps I ever took during our marriage: asking my husband an icebreaker question about our life together. That word icebreaker is key: these are questions designed to get conversation going, not shut it down. And that means the question has to be open-ended and asked with a spirit of genuine curiosity of learning what your partner thinks.

The Power of the Icebreaker (Part 2)
Grace Pomroy
Welcome "The Earner" Money Personality

Long-time readers of this blog are familiar with the four money personalities I discuss: the giver, the saver, the spender, and the acquirer. Over time, though, I’ve learned that while people tend to understand the first three, they often stumble over the last one. On first blush, people generally thought the “acquirer” referred to someone who liked to accumulate or collect things. However, that couldn’t be further from the truth. The acquirer was someone focused on how money came into their life, not what was done with the money after it was received. 

Welcome "The Earner" Money Personality

Stuck in a Season of Waiting

Stuck in a Season of Waiting

Lately I feel like I’ve been stuck in a season of waiting. My husband and I have been dreaming of putting down roots in the Pacific Northwest since the first time we visited Oregon seven years ago. While we are just months away from making that goal a reality – we hope to buy a house sometime this summer – we are still in transition. In addition to waiting as we search for the right house, I spent the fall waiting to get an appointment with a doctor about a health concern I was dealing with, spent the winter waiting for medical tests, and am now spending the spring waiting to fully recover from surgery.

How to Handle a Big Income Gap in Your Relationship

How to Handle a Big Income Gap in Your Relationship

It’s not uncommon for couples to have an income gap between partners – in fact, it's the norm. According to data from Morning Consult and Insider, nearly three-quarters of Americans reported they had some income imbalance with their partner before they started dating. And while that imbalance can flip-flop as partners change jobs or receive a raise or bonus, at times it can be significant. This might happen when one partner retires, decides to go back to school, or opts to stay at home with the kids. This might also happen when one partner gets a big promotion or receives a large inheritance. How can you manage your finances so this imbalance in income doesn’t throw your relationship off balance? Consider these steps:

My 6 Favorite Money Psychology Hacks

My 6 Favorite Money Psychology Hacks

I’m a big fan of the Financial Feminist podcast. A few weeks ago the host, Tori Dunlap, shared a money hack that she had heard about from another financial educator on Science Finance: Before making an impulse purchase, ask yourself: “How many ‘taco dollars’ does it cost?” That particular financial educator really loved tacos, so he judged each purchase by asking, “How many tacos could I buy for the cost of that item?” Concert tickets: 20 tacos. Cupcake: 1 taco. Fancy hotel stay: 83 tacos. Then, he would ask himself: “Is it really worth that many tacos?”

The Power of the Icebreaker (Part 2)

The Power of the Icebreaker (Part 2)

My last post on things that can jumpstart your financial life in 5 minutes or less got me thinking  about one of the most effective steps I ever took during our marriage: asking my husband an icebreaker question about our life together. That word icebreaker is key: these are questions designed to get conversation going, not shut it down. And that means the question has to be open-ended and asked with a spirit of genuine curiosity of learning what your partner thinks.

Welcome "The Earner" Money Personality

Welcome "The Earner" Money Personality

Long-time readers of this blog are familiar with the four money personalities I discuss: the giver, the saver, the spender, and the acquirer. Over time, though, I’ve learned that while people tend to understand the first three, they often stumble over the last one. On first blush, people generally thought the “acquirer” referred to someone who liked to accumulate or collect things. However, that couldn’t be further from the truth. The acquirer was someone focused on how money came into their life, not what was done with the money after it was received. 

Jumpstart Your Financial Life in 5 Minutes or Less

Jumpstart Your Financial Life in 5 Minutes or Less

So, how lofty are your New Year’s resolutions? As much as I appreciate dreaming big, I know many of those resolutions are likely to fall by the wayside over the next month and some may even fizzle out by the end of this week! What if I told you that you could take a step forward in your financial life in just five minutes? Seriously … I’m all about making it doable.

Meaningful Ways to Save During a Season of Spend

Meaningful Ways to Save During a Season of Spend

It may be the season of giving, but that doesn’t have to automatically mean spending. In fact, with a little creativity and careful intentionality, you might find some meaningful ways to save this season. Now, I promise I’m not getting Grinchy here – I love giving gifts and showing my loved ones how important they are to me. But with so many of us feeling the pinch in this economy, this might be the time to reevaluate your patterns. Here are some of my favorite approaches to achieving both the joy of giving, and the satisfaction of saving:

The Journey West: How We're Preparing For Our Big Move

The Journey West: How We're Preparing For Our Big Move

Exactly one month from today my husband and I will be packing up our apartment in downtown Minneapolis and beginning the first leg of our long journey west to Gig Harbor, WA. While to some family, friends, and coworkers this seems like a spontaneous move, this journey has been years in the making. My husband first started dreaming of living on the west coast when he was in grade school and did a report on the state of Oregon. For me, it started with work trips I had the privilege to take out to Washington and Oregon. We both were drawn in by the breathtaking mountains, awe-inspiring shoreline, diversity of wildlife, and more temperate weather. The last few years we have slowly and methodically prepared for our next adventure.

Is it ok to have just one partner handling the finances?

Is it ok to have just one partner handling the finances?

One question that has been coming up more frequently lately in my conversations with couples about money is: “Is it ok to have just one partner handling our finances?” Dig a little deeper, and often the more money-savvy partner will say something like, “I know you would advise us otherwise, but it’s just easier with me handling our finances, since my partner doesn’t really want to be involved in our financial life.”

The "I" in the American Dream

The "I" in the American Dream

One of my favorite parts of my work is the opportunity to sit with people and hear their stories. I get to hear about the struggles and the heartaches as well as the goals and achievements. One of the things that comes up a lot in these stories is “The American Dream.” This mythical vision of life and prosperity is a powerful force that often shapes our relationship with money, sometimes in ways we don’t realize.

How to Set Rates for Freelance Work

How to Set Rates for Freelance Work

Over nearly 10 years of speaking engagements, I have really struggled to set my rates. For a long time, I let the organization who invited me dictate what they would pay me. However, as a younger woman speaking in an industry dominated by older men, it slowly became evident to me that I was being under-compensated for the same services rendered by my male counterparts. For instance, I would keynote at a conference alongside a 60-something man only to find out later that he had been paid twice the amount I had been paid. Now, I understand that there may be a reason to compensate more for experience or expertise, but nothing can justify that pay differential. From that point on, I vowed to be more intentional about my pricing.

The Unspoken Financial Privilege of Being a Straight Couple

The Unspoken Financial Privilege of Being a Straight Couple

Ten years ago, if you had told me that there was a financial privilege (not just a societal privilege) to being part of a straight couple, I wouldn’t have believed you. I’m embarrassed to admit it, but it’s true. I assumed once same-gender marriage was legalized in the United States, gay, lesbian, and other LGBTQ+ couples would share the same rights and financial privileges as I experienced.

Help! My Partner is a Stingy Saver

Help! My Partner is a Stingy Saver

A few weeks ago, I shared a blog article designed for readers whose partners are extravagant spenders, and now it’s time for us to turn the tables. Today’s article is designed for those readers out there who feel like their partners are stingy savers. Often their question sounds like this: I’d like to use our money to invest in the present and it feels like all my partner can think about is the future. I’m so glad they are focused on our family’s security, but I keep wondering when we can ease up the saving and focus on today. When is “enough” enough?

6 Ways Money Dates Have Transformed Our Relationship

6 Ways Money Dates Have Transformed Our Relationship

Six years ago, my husband and I did something that has transformed our relationship. I remember clearly the struggle we were experiencing in our marriage at that time: Small disagreements over the credit card bill would turn into fights. I felt like my husband didn’t care about our (read: my) financial goals, and my husband felt like he had no say in our financial life. It seemed like money was going to tear us apart.

Help! My Partner is an Extravagant Spender

Help! My Partner is an Extravagant Spender

As you might know from reading my blog, my husband is naturally more of a spender than I am. Maybe that’s why I hear from so many people wondering how they should deal with their partner’s free-wheeling approach to buying things. Often their question sounds like this: It seems like every time we finally get our financial life back on track I see another extravagant purchase on our credit card and I can feel our financial goals slipping away. Help! How can I stop the spending and get us back on track?

Financial Negotiation 101

Financial Negotiation 101

In December, my husband and I decided to become a one-car family. This decision was long overdue. Ever since moving to downtown Minneapolis, I used my car maybe once or twice a week. Throw a pandemic into the mix and I had to start intentionally driving my car occasionally just so it didn’t die in the parking garage. Plus, we had to pay for parking each month. Certainly not a good investment! However, since I had leased the vehicle in the winter of 2018, we had to wait out the lease.