Marriage and Money: Financial Roles and Responsibilities

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 

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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.