Couple Money Podcast

Most couples marry their financial opposite, which can be a blessing or a recipe for disaster. Learn how you two can become a team and create a budget and money system you both love!

Marrying Your Financial Opposite

Did you know that 75% of divorced couples cite money as the cause of their marital issues?

With something causing that big of any issue, you’d think we’d try to become more proactive with making sure that finances

But for many couples, the conversations don’t happen.

There’s a tendency in a lot of marriages to not talk about money until something goes wrong.

The budget is broken or you’re struggling to hit a goal you made for the year.

One reason couples don’t talk about money is that they’re trying to avoid a fight.

Maybe they’ve had a blow-up in the past about certain spending and they rather not hash that out again.

Perhaps they couldn’t come to an agreement on something that should be simple like the budget.

This can especially be the case when you’re financial opposites.

However just because you’re financial opposites don’t mean you can’t work as a team with your money. In fact, for some couples, their differences became an advantage as they tackle goals like dumping debt, saving up for a house or investing in their future.

How do you get there though? How do you mesh those differences into strengths?

Scott and Bethany Palmer, The Money Couple are on the podcast today to chat about how to get started with talking about and working through your financial issues and goals.

 

They were financial advisors and noticed how their married clients were struggling with money. They’ve been focused since on helping spouses work with their different approaches to finances and become a team.

In this episode we’ll get into:

  • how money differences show up in our daily lives
  • understanding and respecting one another’s different perspectives
  • how to approach money talks so that they’re productive

Hope you enjoy!

Resources to Help You Merge Your Finances

If you’re looking to get better with your finances together, here are some helpful posts to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They also have competitive rates on their checking and savings accounts!

Meet Scott and Bethany Palmer

With 50 years of combined experience as financial advisors, Scott & Bethany Palmer (aka “The Money Couple”) have witnessed these conflicts firsthand.

After watching so many couples struggle over money, Scott & Bethany set out to find out why. After a decade of research with a Stanford scientist, they cracked the code to stop the money issues that so often lead to divorce.

They discovered that money “issues” aren’t really about dollars and cents — the real problem is a couple’s struggle to communicate about and agree on money.

They developed The 5 Money Personalities to help couples understand their own unique perspectives and behaviors when it comes to money, learn more about their partner’s money personalities, and better communicate in a way that builds rich relationships

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

Direct download: S10E9_How_to_Work_as_Team_When_Your_Financial_Opposites.mp3
Category:personal finance -- posted at: 9:29pm EST

It’s not uncommon for a spouse to have a secret credit card or have more debt than they’ve told.

Financial infidelity can ruin a marriage. Learn how you can set up a financial system that allows you to be open and honest with your finances and work together with money!

Financial Infidelity in Your Marriage

In this episode we’ll get into:

  • Red flags or signs that financial infidelity might be an issue 
  • Working to regain trust after financial infidelity
  • Creating an open and transparent system for your money together

Resources to Help You Merge Your Finances

If you’re looking to get better with your finances together, here are some helpful posts to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

 

We’ve been Coastal members for a few years have been happy with their services.

They also have competitive rates on their checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

 

Merging finances is more than combining bank accounts. It’s working together with the good, bad, and awkward, including dealing with debt.

Today we’re discussing the legalities of who’s responsible for what, credit scores, and how to dump debt together!

Marriage and Debt

Marriage is about two lives coming together. It can be a wonderful feeling to know you have someone to watch your back through thick and thin. 

Part of coming together is dealing with your finances together and for many couples debt is a chunk of it.

Between credits cards, car and student loans, and maybe a mortgage, the two of you could be starting your marriage in the negative

As a couple you know paying down is the way to go, but you have other concerns on your mind. If one or both of you come in with debt, who’s legally responsible? 

What about the debt you take on after you’re married? What if you two have drastically different credit scores? How will that affect plans that you have – perhaps buying a house down the line? 

Which is why I’m happy Leslie Tayne is here today. Leslie is an attorney who specializes in debt resolution. With almost twenty years of experience, she helps clients get debt relief and resolution. 

She’s sharing her expertise on how debt can affect your finances and marriage.

 

In this episode we’ll get into:

  • Who’s responsible for what legally when it comes to debt
  • Dealing with common situations that can come up when one spouse has a higher credit score than the other
  • Ways to talk about debt and work as a team to get rid of it.

Let’s get started! 

Resources to Dump Your Debt Together

If you two are ready to pay off your debt, here are some handy resources to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They want to help you achieve your biggest goals faster and as a team!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

 

 

Direct download: S10E7_Yours_Mine_Ours_Debt.mp3
Category:personal finance -- posted at: 8:14am EST

Getting on the same page with finances can be tricky. Learn how you can communicate better with your spouse about money and more!

Why We Fight About Money

No one wants to have money be this source of stress in their lives, not in a strictly financial sense where you’re worried about the bills and definitely not in your marriage. 

And yet, it is usually listed as one of the top reasons spouses have fights

And if you have debt? It’s even more of an issue. In one study, with couples who carried debt, they found that 48% of those with over $50,000 of debt listed money as stress point compared to 23% of those with less than $10,000.

It makes sense, right – if you have the more debt you have, the more your current income is tied up to pay it. 

So then couples usually want to come up with some plan to pay off their debt, but they hit a wall when it comes to making and executing that plan. There’s too much tension and blame to get things rolling. 

But if you’ve listened to this for a while, you’ve heard stories of couples who have overcome some huge issues like massive amounts of debt, being hit with financial infidelity, or being on the brink of bankruptcy yet they managed to come out stronger paying off massive amounts of debt.

How do you get there though? 

Through better conversations about money and more. It’s not easy to get started so today Traci Philips is going to share how we can better communicate. 

 

As a Leadership & Performance Strategist, Traci assists her clients in identifying core challenges with her unique strengths in translating both verbal and non-verbal language. 

Into this episode, we get into:

  • Better Understanding Where Our Spouse is Coming from with Money
  • Common mistakes couples make when talking about money
  • How to work through disagreements to diffuse a potential money fight

Let’s get started! 

Resources on Marriage Fights & Finances

Want to learn more and become more productive with your money dates? Here are some resources to check out:

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

We’ve been Coastal members for a few years have been happy with their services.

They also have competitive rates on their checking and savings accounts!

Support the Podcast!

Thank you so much for listening to the podcast!

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere.

Direct download: S10E6_How_to_Diffuse_Money_Fights.mp3
Category:personal finance -- posted at: 10:09am EST

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