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Besides infidelity, the fastest way to end a relationship is to avoid communicating about money. Monetary choices reflect a person’s values, like trust or greed, and relationships can only survive if values are aligned. According to Capital One Canada and Credit Canada, eight in 10 couples fight about money and 48 per cent feel their partner’s attitude towards money is different from their own. Financial incompatibility breaks up the majority of Canadian marriages. But, sadly, couples downgrade the importance of ‘money matters’ below wedding planning, changing diapers, and building a happy future.

Stop your relationship from hitting the rocks and start talking about money. Learn about your partner’s financial philosophy and work to align goals. Grab a coffee, get comfy and turn off your phone. Avoid finger pointing, stick to the facts and focus on solutions. If you press each other’s buttons, back off, cool down, find out why and keep the conversation respectful.

Gain an understanding of the origin of your partner’s financial views. Most 20 to 30-somethings have received little professional advice, limited financial education, and their parents have had the greatest monetary influence followed by friends. Chat about what was learned at home or school and what influence it’s had.

Next, sharpen your money savvy together by reading and discussing financial books like Smart Couple’s Finish Rich, Rich by 40, Millionaire Next Door, and Wealthy Barber. Then, cozy up to your laptop, and visit personal finance sites like www.moneyville.ca and www.finance.yahoo.com.

Foundation

Marriage counselors agree; teamwork and financial boundaries are critical when planning your future with someone. Though you may not like to deal with financial matters, it’s irresponsible to ignore them. You don’t want to find yourself in a bad financial position you weren’t aware you were creating. Swap financial chores or take on new ones each week like paying the bills online, negotiating interest rates, monitoring the budget or collecting receipts to track your spending.

Budget

Overspending causes severe arguments and stems from unclear financial boundaries. The saver, for example, may feel their financial security is being jeopardized by their partner’s shoe fetish. Tell your partner how debt impacts you emotionally and financially. If you’re angry about how you got into debt, air your grievances. Agree on what’s worth going into debt for in the future and how you plan to reduce it now. And, don’t hide debt from your partner.

Sticking to an agreed-upon budget allows you to spend less time worrying about money, and more time on your relationship. It’s a tool to track income and expenses, set boundaries, and support your financial goals. And, rather than being restrictive, incorporate affordable fun.

Avoid finger pointing and stick to tried-and-true budget principles – spend less than you make and before you pay bills, save at least 10% for yourself.

Develop a Plan

A written financial plan keeps couples accountable for their actions and focused on achieving dreams. It details goals and strategies for saving, spending, income and asset growth, debt reduction, insurance, estate planning and taxes. Start talking about your dreams for children, homes, retirement, etc; then break your dreams into realistic steps. Start taking action.

Follow these five planning principles:

1. Grow net worth through debt reduction and asset growth
2. Set specific, measurable, realistic and timely goals
3. Protect what you’re building (a will and insurance)
4. Implement your strategy
5. Evaluate your progress.

Financial planning advice from a professional, like a Certified Financial Planner (CFP), helps couples avoid arguments and form a holistic plan.

Together, interview at least three reputable financial planners, get proposals, pick the one most aligned with your goals and start planning.

Respectful communication and team work keeps your relationship healthy and focused on achieve dreams. If you’re stuck in a rut, get help; see an advisor or couple’s counselor.

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Salary may not be the only thing you care about, but it’s a top priority in terms of your financial health. An extra $5,000 could mean more money for you so you can build your net worth….and have more financial flexibility in the long term.

Whether you’re thinking of changing employers or staying put, here are some tips to maximize your salary.

Tip 1: Stick to the facts
Avoid comparing your salary and benefits to family members or friends. If you’re not in the same industry, occupation or city, you’re comparing apples to oranges.

Research comparable salaries for comparable jobs where you live. Remember to evaluate the complete picture – salary is only one part of a total compensation package– there are other factors to consider such as benefits, stock options, retirement plans, etc. Start your research by checking out the current salary bands for various jobs levels at your current employer. Then move on to 3rd party sources like Monster.ca, Workopolis, or Payscale.com. If you belong to an association or alumni group, check whether they’ve got research on salaries and benefits you can review.

As you consider the salary you think you deserve, be realistic about how much relevant experience and education you have. Less experience typically translates into less salary, but perhaps more training and development opportunities

Research the demand for your skills. If you’ve got a skill that employers want, you’ll see job postings. On the flip side, if you see a posting for a job you want, study up on the skills that are required. You may need to invest in developing new skills.

It never hurts to get advice and facts from a recruiter that specializes in your line of work. They’ll discuss your resume, help you prep for interviews, give you current information on salaries and they’ll tell you straight up how marketable your skills are and whether they think your job and salary expectations are in line with reality.

Tip 2: Set Goals

Once you’ve got your facts straight, and you think you know what you’re worth, set a realistic goal before you go in for negotiations. Perhaps you want a raise of 3 to 5% of your salary. Or, you may wish to focus on an actually number like $5,000. If you’re going to be negotiating on a job offer, ensure your goal is a salary range. Every company’s policies are different.

Tip 3: Techniques to the Negotiation

Don’t get upset. Just getting up the courage to negotiate sets you apart from your peers. According to the Society for Human Resource Management, 33% of people say they’re freaked out about negotiations, so they don’t do it even though 80% of recruiters and managers are willing to negotiate .

It can be hard to find the right words when you’re asking for more money. Playing hardball in a negotiation rarely wins. So, stick to the facts and try to be collaborative. Don’t beg and don’t whine. Avoid making unquantifiable statements or comparison. Be professional.

Focus the conversation on how valuable your contributions are to the organization. Talk about the experiences you’ve had to date plus what you plan to do in the future. Hint; if you want more money, you’re probably going to have to take on more responsibility. It can be very helpful to present information on competitive salaries and positions, based on the research you’ve done before.

Timing is important. There are better times than others to discuss money. Don’t barge into your boss’s office right asking for a raise after they’ve had a hectic day. Wait until you’ve both got some time to sit down and talk. It’s also nice to give your boss a heads-up about the money topic so that they aren’t caught off guard. This gives both of you time to prepare. They may need to chat with their boss or an HR advisor as to salary and benefit policies. When was the last time you sat down with your boss for a performance review? That’s an optimal time to negotiate your salary.

If you’re interviewing, avoid talking about salary expectations in the first half of your interview. These discussions are usually held in the middle or near the end. Why? Because when you’re interviewing you need at least half if not more of that time to prove to your potential employer that you’re worth it.

Be flexible as you negotiate. If your employer or potential employer can’t pull through with exactly the salary you want try to negotiate for greater benefits, a bigger training and development budget or more time off. Suggest a pay for performance, bonus or commission structure. You can even negotiate to have your salary reviewed more often – 6 months vs. 12 months down the road.

If you feel it’s appropriate, get a few different offers. This gives you more bargaining power.

Raises and job opportunities can take some time to come to fruition. Be realistically patient and use the time to sharpen your skills. Going forward, do everything you can to enhance your person brand and contribution to the organization. That way you’re more marketable in good times and bad.

The Economic Action Plan is generating a lot of hype and even comes with a cheery website that’s reminiscent of those ParticipACTION campaigns for grade-school kids. It’s all with the aim of stimulating the economy by putting money back into the hands of individuals and companies. Think of it as your own personal stimulus package through such things as lower federal income taxes (yay!) and benefits for first-time homeowners.

But this isn’t a hand-out. In this podcast, I talk about how the action plan affects gen-y and millennials: what’s good, what’s bad and what you should know before you sign up for some of the special programs. Plus, I talk about changes to the Home Buyers’ Plan – a must-listen if you’re shopping around for your first home.

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Links: Online with the Feds

Check out some of the websites below for in-depth details about incentives for individuals and companies, along with links to all of the Government of Canada’s various websites.

Canada’s Economic Action Plan

Action Plan: What’s in it for you
This section is geared at individuals and families and has dedicated sections for students and “workers.” The worker section covers everything from personal tax relief for individuals to the government’s wage earner protection program.

Home Renovation Tax Credit

Project Map
This Google maps lays out stimulus projects across the country, including a $5-million Artic Research Infrastructure Fund in the Far North to an Aboriginal Skills and Employment Partnership.

Pmwebphotos’ photostream
Did you know that Stephen Harper has a Flickr page? You’ll find numerous photo ops, including those for the Action Plan. U

Last week, I lost my business credit card. I was at a lunch spot and had paid for the meal with my Visa card. I thought it had made its way into my purse. My purse, however, is an abyss of cards, make-up, wallet, pictures, to-do lists, my cell phone, books, snack bars and who knows what else. I figured my credit card would surface when I did my weekly clean-up. It never did. Turns out, I’d left it at the counter where I’d paid for my lunch a few days earlier. Even people like me, a person that keeps a close watch on her money, can lose track of their finances.

Many of us have multiple bank accounts and investments, car loans, mortgages, credit cards and ATM cards – not to mention accounts at more than one bank, more passwords than we can remember and, often, several financial advisors. In this month’s podcast, I look at tools that will help you keep track of your finances, assess your assets and liabilities and keep your financial house in order.

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Links: Online Tools to Track Your Money

• Moneyproblems.ca Net Worth Tools
• Office.Microsoft.com Net Worth Calculator
• AlbertaVenture.com’s Guide to Personal Finance
• Globeinvestor.com
• Yahoo! Finance
• Stockhouse.com
• TMX.com

Cutting Corners, 2008 6 x 4 inches, Currency Collage by Mark Wagner

Even though the market has started to strengthen and the economy is picking up, employment is a “lagging indicator.” If pundits say the recession is over, many of us will still find ourselves at the receiving end of a pink slip. Recent Stats Canada reports showed that EI beneficiaries shot up more than 50 per cent (roughly 300,000 Canadian) since last October.

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If you’re still working, what can you do to start or increase an emergency fund? For starters, don’t link your savings account to your ATM card and create a fund that will be easily accessible in an emergency. Canoe’s money section compares rates on a variety of savings products and has a useful section on personal finance

This podcast, I look at other ways to build that fund, including how to earn as much interest in your savings accounts as possible and making such funds – term deposits, money market funds or GICs are options – accessible. They don’t do much good if they’re locked in for five or 10 years.

And if you are laid off, you’ve probably realized that you need to do two things: spend less and make more. Easier said than done, you say? True. But I talk about a few easy things (buy used, sell a second car, downsize your apartment or house), along with some long-term options for the newly unemployed. U

The artwork above is by Mark Wagner, who uses U.S. currency in sometimes irreverent, always clever collages. See more here.

Sean Wise, venture capitalist, comic book aficionado and author of the book How to be a Business Superhero, talks with contributing editor Greg Hudson about what entrepreneurs can learn from Batman and the Green Lantern. (Check back next month for an exclusive excerpt on the ten golden rules of superheros from Wise’s book.)

Our Project Start-up stars Innovequity applied to Precarn and AVAC for loans. In this audio interview, AVAC president and CEO Ross Bricker fills us in on what the people who sign the cheques look for before, during and after you make that application.

Top Ten Tips on How To Hold Your Focus When Darkness Falls (1.5 Mb MP3 — right-click to download) _Kathryn Heslep

Ideas to Keep Yourself Awake on the Night Shift (1.8 Mb MP3 — right-click to download) _Sean Bolli

Conversations on Sleep Deprivation _Dr. Charles Samuels

1. On the shift worker (1.5 Mb MP3 — right-click to download)
2. On the full-time worker studying at night (1.5 Mb MP3 — right-click to download)
3. Suggestions on how to be focused, healthy and productive (2.5 Mb MP3 — right-click to download)

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The unlisted podcasts are snippets of useful information from conversations between Web Editor, Rachel Singh, and the people that inform each month’s unlisted section in Unlimited magazine.

Whether you’re interested in professional development, returning to school or going for the first time there are unlimited opportunities.

In this section
	Five Tips for Smart Studying You can attend class all semester, write down every bit of information your professor teaches and finish all the books on the reading. But so much of the outcome depends on how well you study – read more
	The Benefits of Night School Evening classes don’t force you to choose between income-earning and unpaid training. – read more
	What Kind of Worker Are You? Personality tests might not replace the career counsellor, but they’re one way to find the right career path – read more
	Education 2.0 Upgrading your education is one of the most effective ways to get ahead in your career. – read more
	Recession-Resilient Careers: Q&A with Monster.ca Find out what careers are going to be in high demand in the next few years, what cool jobs are still out there and more. – listen now
	Paying for a Second Degree How to go back to school without breaking the bank – read more
	Don’t Quit your Day Job In a professional environment, dressing appropriately can determine whether you’re promoted to a corner office or relegated to a cubicle – read more
	Repaying loans Where’s the money? – read more