Podcast: Smart Money Parenting (LS 40 · TOP 1.5% what is this?)
Episode: Marriage and Money: Why Honesty and Transparency are Critical
Pub date: 2023-04-21

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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/smart

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

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