Financial Planning Tightwads and Spendthrifts Which Way Works Better?

Today Financial Advisors Rob McClelland and Mike Connon discuss financial planning and spending in relationships. This insightful episode of Think Smart with TMFG, delves into the financial dynamics in relationships, pitting ‘tightwads’ against ‘spendthrifts.’ Guided by Scott Rick’s book, “Tightwads and Spendthrifts,” they dive into the financial habits of couples, exploring the balance between saving and spending, and how couples can manage their finances harmoniously.

From Rob’s reluctance to drop a dime on razors to Mike’s affinity for luxury vacations, the episode offers an honest discussion of personal financial habits. They tackle the nitty-gritty of thrifting, forced savings, and wise spending.

Moreover, they unravel the common financial setups in relationships and share expert advice from years of advising couples. They weigh the pros and cons of managing finances independently, somewhat jointly, or entirely together. Plus, learn which combination of financial practices usually works best for couples, from our host’s hefty 25+ years of professional financial experience.

Financial responsibility isn’t just for adults, and in this episode, we underline the importance of teaching this to children as well. Learn how to gradually introduce kids to the cycle of earning, saving, and spending, as shared through the anecdotes of our hosts.

They don’t just stop at daily spends and savings – the episode also touches upon crucial subjects like estate planning and tax-free savings. We discuss when separate accounts could be useful, like in the case of receiving inheritances or navigating finances in second marriages.

Finally, they stress benefits of shared financial accountability and planning.

Understand the importance of financial literacy and realize your potential to live a successful life. Jump into this episode for insights that will enrich the financial health of your romantic relationship!

Related articles

Episode 260: The Future Of Real Estate

Join hosts Rob McClelland and Mike Connon in this enlightening episode of Think Smart with TMFG. This week, we delve deep into the future of real estate in Canada. It’s no secret that real estate has been a hot topic in the country, with government i…

Read More →

Episode 259: How To Beat The Stock Market

In this episode of ‘Think Smart with TMFG,’ your hosts, Rob McClelland and Mike Connon, explore the intriguing concept of ‘beating the stock market.’ Sharing profound insights from their years of experience in finance, they discuss how the quest to o…

Read More →

The Power Of Clearly Defined Goals

The Power Of Clearly Defined Goals   The significance of setting strict and attainable goals in financial planning cannot be overstated. They are the foundation …

Read More →

Financial Planning Advice from Canada's Top Financial Advisors

Sign Up To Receive Email Updates On The Financial Industry And Complimentary Workshops.

By providing your e-mail address you provide The McClelland Financial Group of Assante Capital Management Ltd. with your express consent to send you electronic communications. If you choose to discontinue receiving e-mails, you may withdraw consent by contacting [email protected].


Get actionable financial insights from the Top financial planners in Toronto.

Toronto's Top Financial Advisors
Copyright Assante Wealth Management. © 2022

Disclaimer | Assante advisory services are offered through Assante Capital Management Ltd. Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. The services described may not be applicable or available with respect to all clients. Services and products may be provided by an Assante advisor or through affiliated or non-affiliated third parties. Some services and products may not be available through all Assante advisors. Services may change without notice. Insurance products and services are provided through Assante Estate and Insurance Services Inc.

We have a team of advisors each specializing in varying portfolio sizes. Please let us know the approx. amount of your investable assets to help us to direct you to the advisor that is best suited to you.