Money and marriage: can they coexist in harmony? Money can play a huge role in the overall happiness and success of your marriage. Taking time to consider the way you handle finances as a couple today can make all the difference in the long-run.
We’re going to walk you through signs of financial success and traps to avoid at every phase of marriage from Newlyweds to Empty Nesters.
Stages covered in today’s episode:
- Newlyweds (1-5 years)
- How much you should spend without talking to your spouse
- How to reframe your financial goals to include each other
- Financial tools every newlywed should know about
- 7 Year Itch (6-10 years)
- How kids play into your overall success in marriage
- How to protect the financial success you’ve achieved so far
- Why valuing your financial roles can make or break your marriage
- Catching Your Stride (10-20 years)
- Why this is the stage where a lot of couples can “come up for air”
- Why this is NOT the time to “keep up with the Joneses”
- How to tell if you and your spouse are on track to financial success
- Empty Nesters (21-40 years)
- Why this stage should be something to celebrate
- How to adjust your mindset to protect your marriage and your net worth
- Why this is not the time for financial risk
Resources and research from today’s show:
- Love and Marriage… and Finances (BEFORE Bo got married)
- Marriage… an Education (AFTER Bo got married)
- Money Guy Financial Order of Operations
- Why Communicating About Money is Key to a Healthy Relationship and Financial Future (Forbes)
- Divorce risk highest within the first two years of marriage (The Telegraph)
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