Key Takeaways:
1. Both partners should have roles and responsibilities in handling finances in a marriage.
2. Involving both partners in the decision-making process brings different perspectives and strengthens the couple's financial journey.
3. Major purchases should be made together, even if one person has a stronger preference.
4. Finances in marriage should be fun and not stressful.
5. Approaching finances as a unique expression of the couple's collective mindset can bring them closer together.
Quotes:
- "I'm just a big believer in, when you're in a marriage, you both want to expand as a person overall."
- "Having both people involved in the decision-making process... has been one plus one equals three."
- "Finances, typically what are thought to subtract from marriages, should be very additive."
- "The topic of money in marriage should be fun, it's not supposed to be stressful."
- "If you deal with the stress before you deal with the problems or solutions, it's going to solve everything."
Chapters
| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the episode |
| 0:00:49 | Importance of both partners having roles in finances |
| 0:02:32 | Both partners should be involved in investment decision making |
| 0:04:55 | Both partners should be involved in major purchases |
| 0:06:32 | Finances should bring couples closer together |
| 0:08:16 | Dealing with stress before problem-solving |
| 0:08:22 | Conclusion and closing remarks |
Social Media Handles
Follow Philip Washington, Jr. on Instagram (@askphillip)
Subscribe to Wealth Building Made Simple newsletter (https://wealthbuildingmadesimple.us)
Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
Life insurance: Finding companies that provide life insurance to ”high risk” individuals
Podcasting: How to raise money from advertisers
Tax planning: Tax credits in the 2022 Inflation Reduction Act
Episode replay: What is a debt based financial system (our current system)?
2022 episode replay: The 4 asset buckets
Guest appearance throwback: Why energy companies are interested in mining Bitcoin
Podcast Roadmap Series: Advertising and finding sponsors for your podcast
Business Planning: Time to start forming the budget for 2023
Podcasting: A show idea for local bars and restaurants
Real Estate: What does it take to be a good realtor?
Life insurance: Succession planning resources for business owners
Podcast Roadmap series: Distribution is the valuable ”real estate” of business
Business planning: Finding a business edge in the current labor market
Wealth Mindset: Working long hours has nothing to do with the amount of wealth you build
Real Estate: Preparing for the market shift part 2...Sellers
Life insurance: Creating seed money for your children’s future business ventures
Podcast Roadmap Series: You don’t have to cold call anymore if you don’t want to
Tax planning: Watch out for IRS phishing scams
Wealth Mindset: Creatively using your balance sheet to build wealth
Real estate: Preparing for the market shift part 1...Buyers
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast