Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships A conversation with Dr. Scott Rick

Dr. Scott Rick is an award winning teacher and researcher at the University of Michigan's Ross School of Business. Dr. Rick received his PhD in Behavioral Decision Research and his research focuses on understanding the emotional causes and consequences of consumer financial decision-making, with a particular interest in the behavior of tightwads and spendthrifts. 

Dr. Rick is the author of Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships, which we will be talking about today. 

Show Notes

00:00 Introduction
01:32 Dr. Rick shares a little about the psychology of tightwads and spendthrifts. 
05:22 Whether we tend to marry people with similar feelings toward spending money, or do opposites attract.
07:27 Who usually wins when tightwad and spendthrift partners disagree about spending decisions.
10:25 How bank account structure influences relationship quality in a spendthrift tightwad relationship
18:34 How damaging can "financial infidelity" really be and how much detail partners should know about each other’s personal spending decisions
26:26 Whether prenups in a first marriage are generally good or bad.
30:43 How to ask our partner what kind of gift they would like
42:13 Summarizing how tightwads and spendthrifts use gift-giving occasions to strengthen their relationship.
43:22 Whether kids are more likely to be influenced by what they hear their parents say or what they see them do. 
50:36 Whether we should marry for love, for money, or for both. 
53:37 One piece of simple and actionable advice from Dr. Rick.

Where listeners can learn purchase Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships
https://us.macmillan.com/books/9781250280077/tightwadsandspendthrifts 

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Chapters

• 0:00 Introduction
• 1:32 Dr. Rick shares a little about the psychology of tightwads and spendthrifts
• 5:22 Whether we tend to marry people with similar feelings toward spending money, or do opposites attract
• 7:27 Who usually wins when tightwad and spendthrift partners disagree about spending decisions
• 10:25 How bank account structure influences relationship quality in a spendthrift tightwad relationship
• 18:34 How damaging can "financial infidelity" really be and how much detail partners should know about each other’s personal spending decisions
• 26:26 Whether prenups in a first marriage are generally good or bad
• 30:43 How to ask our partner what kind of gift they would like
• 42:13 Summarizing how tightwads and spendthrifts use gift-giving occasions to strengthen their relationship
• 43:22 Whether kids are more likely to be influenced by what they hear their parents say or what they see them do
• 50:36 Whether we should marry for love, for money, or for both
• 53:37 One piece of simple and actionable advice from Dr. Rick