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Marriage and Money: Why Honesty and Transparency are Critical

Marriage and Money: Why Honesty and Transparency are Critical

FromSmart Money Parenting


Marriage and Money: Why Honesty and Transparency are Critical

FromSmart Money Parenting

ratings:
Length:
25 minutes
Released:
Apr 21, 2023
Format:
Podcast episode

Description

Should you split finances in marriage? In today's episode, hosts Chad Willardson and Scott Donnell discuss the benefits of being honest and transparent about finances in a marriage. They go through practical ways to talk about money with your spouse and how financial dishonesty destroys intimacy. Scott starts the conversation by explaining how raising smart money children requires input from both parents. How transparent should you be about money with your partner? Chad and Scott believe the more open you are, the more stable your relationship will be. According to Chad, people often marry polar opposites when it comes to finances - there is always a spender and a saver. Although there is no one-size-fits-all answer to finances, Chad and Scott agree that if you plan to stay married, you must be honest about your finances. If you want alignment in your marriage, you have to work together as a team. Scott describes how transparency builds confidence and intimacy in a marriage. For Chad, there is no point in hiding your finances because you'll have to face the truth at some point. Scott reveals the role finances play in building physical and emotional intimacy. Chad and Scott agree that secrets, especially financial secrets, ruin beautiful relationships. Chad shares why it's impossible to agree on finances 100% of the time. Scott and Chad break down financial infidelity - Do your marriage a favor and stop keeping money secrets from your spouse. Chad highlights the benefits of sharing your financial goals with your partner. According to Scott, great things happen when a couple becomes financially aligned. For Chad, the non-financially inclined spouse will appreciate you more when you're open and transparent about your finances.      Mentioned in This Episode: gravystack.com smartmoneyparenting.com Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson Scott Donnell on Instagram - @imscottdonnell Chad Willardson on Instagram - @chad.willardson Scott Donnell on TikTok - @imscottdonnell
Released:
Apr 21, 2023
Format:
Podcast episode

Titles in the series (93)

Welcome to Smart Money Parenting (audio edition), your essential podcast for parents passionate about empowering their children with vital financial skills often missed in traditional education. Join us as we delve into a diverse range of topics designed to arm you with practical knowledge and tools to raise financially literate and responsible children.