Couple Money Podcast

Today we’re going to look at three common and awkward arguments married couples have around money  and how you can tackle them together! 

Awkward Money Conversations When You’re Married

Marriage and money isn’t always easy. Chances are the two of you have different personalities and approaches to finances. 

Those differences can be a wonderful thing as you two can lean on each other’s strengths and shore up weaknesses. 

But finding your financial footing as a couple is not automatic. If you don’t have some way to work on it, it can hurt your marriage and money. 

One of the first things to realize about why couples fight or argue over money is how frequently it’s actually NOT about the money. Seriously. 

From personal experience, writing and speaking about this for over a decade, the most common reason couples fight about money is that they are not in sync with each other in either their expectations, values, or priorities. Usually it’s a combo of them. 

While you two aren't always going to see eye to eye on everything – again those differences can be fantastic- there are some ways you can work as a team and use those differences to your advantage

Today we’re going to talk about how you can use that knowledge to untangle some awkward money conversations that can come when you’re married. 

In this episode we’ll get into questions like:

  • figuring out what counts as a big purchase
  • whether to loan money to family
  • coming clean about debts

Resources to Build Up Your Family Finances Together

Thank You to Our Sponsor Coastal!

thanks to our podcast sponsor Coastal Credit Union. If you want to live better, you have to bank better!

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.

Find out more about what Coastal offers here!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • 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 rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy 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!

How happy are you with your current banking situation? Are you getting real value out of your checking and savings accounts? Or do you feel like you’re getting nickeled and dimed? 

Today we’ll go over how to find a better banking option and how to seamlessly move your money! 

Why It Matters Where You Bank

These are all important to your financial health and making progress on your goals, however we left the biggest piece of the puzzle last – your day to day bank accounts. 

Your check and savings accounts are the backbone to your family’s financial system, but for most of us, it's almost like an afterthought.

Much of this goes back to how we chose our accounts in the first place.

For my husband and I, with our first accounts, it was based on who we were already banking with. And at the time we had bank accounts with two of the major banks, we had opened student checking accounts.

When I say they were basic accounts, that's exactly what they were.

Honestly, we just settled with it for way too long. After getting frustrated with the horrible customer service, ridiculous fees. And not seeing any real progress with our financial goals. We decided it was time to change.

We moved our money to an online bank and credit union and i have to say we are so much happier for it.

We feel that our banking partners are actually partners that they're helping us reach our financial goals faster. And make our lives easier with managing our money.

So if you feel that way about your bank or credit union, fantastic.

However, there are plenty of families that feel like they're banking options are hurting them rather than helping.

According to a recent Magnify Money survey, 68% of consumers are frustrated and feel like their savings isn’t growing. When you consider that 18% of those said they get less than .05% APY, it’s understandable.

What makes it worse are those minimum balances and fees added on their accounts. 

Bankrate reported that the average maintenance fee on a checking account that earns interest totaled $196.20/year

So if you’re feeling squeezed, you probably are. That doesn’t have to be the case though. 

With 2021 winding down, now is a great time to set the pieces up for you to have an incredible year in 2022.

In this episode, we’ll go over: 

  • What to look for in your next bank or credit union
  • How to move your money and switch accounts (and deal with a reluctant spouse)
  • How to set up your new accounts for your best year ever

Are you ready? 

Let’s get started! 

Resources to Easily Manage Your Money

Thank You to Our Sponsor Coastal!

thanks to our podcast sponsor Coastal Credit Union. If you want to live better, you have to bank better!

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.

Did you know that Coastal offers a Health Savings Account? If you have a high deductible health plan, you need to take advantage of an HSA.

Find out more about what Coastal offers here!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • 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 rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy 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!

Photo by Adrien Olichon from Pexels

Direct download: SEP_S3E27_Better_Banking_How_to_Move_Your_Money.mp3
Category:personal finance -- posted at: 1:40pm EDT

Get a sneak peek at how we handle our money system and our accounts. So that we are working towards our goals, even if we have more pressing or urgent things to take care of on the family front or with work!

Easy Way to Manage Your Money

A financial system that requires you to constantly check and worry about your money isn’t going to cut it for most families. It doesn't for us. 

With two kids, work, hobbies, and friends, we have a full life and we love it. Quite simply we see money as a tool, not the goal. It’s to help us to care of our kids and lother loved ones, 

So while I respect those highly detailed spreadsheets with line by line breakdowns of every cent, I save that for quarterly reviews. Instead, budget monthly and do weekly checks on Fridays that usually are five minutes just to make sure everything is running smoothly. 

It took some time, but we’re grateful to have a financial system that allows us to focus on the big stuff. We love even more considering these past 18 months. 

If you’re looking to make managing your money much easier, while still hitting your family’s financial goals, this is your episode. 

Today, we’re discussing:

  • Quick overview of how our financial goals and system shifted to fit the season of life we’re in
  • What principles give the framework to our financial system so we can hit our goals
  • How to keep lifestyle inflation in check while still enjoying some fun

Are you ready? Let’s get started! 

Resources to Easily Manage Your Money

Thank You to Our Sponsor Coastal!

thanks to our podcast sponsor Coastal Credit Union. If you want to live better, you have to bank better!

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.

Did you know that Coastal offers a Health Savings Account? If you have a high deductible health plan, you need to take advantage of an HSA.

Find out more about what Coastal offers here!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • 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 rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy 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!
Direct download: SEP_S3E26_How_to_Easy_Manage_Your_Familys_Financial_System.mp3
Category:personal finance -- posted at: 9:51pm EDT

For most couples, their 401(k)s are an important part of their retirement plans. Learn how you can avoid making big mistakes and make the most out of your 401(k)!

Making the Most of Your 401(k)

It's just there's a huge information overload and it's easy to get caught in the mess and not be sure how to actually do it.

Today we're going to give you a leg up.

Usually during this time of year, I pull in the experts like certified financial planners where we dive into the nitty gritty details of the different benefits and options that may be available. 

I’m grateful for those experts who took the time to share some of their knowledge and will have those episodes up on the homepage so you can listen to them because much of it is still incredibly helpful. 

Today, I’m doing what I did last week, which is to go over those FAQs that typically come up. Again, these questions are the ones I see on my side, from discussing through the newsletter, in the Facebook group  Thriving Families, or those Google searches. 

In this episode we’re discussing:

  • The biggest mistakes couples make with their 401(k)s
  • Figuring out how much you need to contribute
  • What to do with your 401(k) at your old job

Are you ready? Let’s get started!

Resources for Smarter Investing

If you want to learn more about investing and staying on top of your money, here are some resources to check out:

Thank You to Our Sponsor Coastal!

thanks to our podcast sponsor Coastal Credit Union. If you want to live better, you have to bank better!

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.

Did you know that Coastal offers a Health Savings Account? If you have a high deductible health plan, you need to take advantage of an HSA.

Find out more about what Coastal offers here!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • 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 rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your MoneyMy 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!
Direct download: SEP_S3E25_401k_Tips_for_Busy_Families.mp3
Category:personal finance -- posted at: 9:18am EDT

1