Mastering Money As A Team
In this episode of Financially Naked: Stories from The Financial Gym, Certified Financial Trainers Garrett and Gina are here to discuss how couples can approach money conversations, the benefits of combining finances, and practical strategies to create a financial plan that works for both partners. They talk about starting the conversation early, setting up money dates, and maintaining financial independence while working toward shared goals. Whether you're just beginning to merge finances or looking for ways to strengthen your financial partnership, this episode will make the process feel less intimidating and help you have open and honest conversations about money with your partner.
Podcast Notes
Starting the Money Conversation
Talking about money is important at every stage of the relationship, but especially in the beginning. If you start talking about money as early as possible. This will set the foundation for strong trust and understanding.
You don’t have to get fully financially naked on the first date, rather, start with simple conversations. Talk about your financial values and habits. The goal should be open and honest conversations.
When you have money conversations early on in the relationship, you can ensure your values are aligned and avoid surprises later on. The earlier you start, the easier it is to have these conversations.
At The Gym, we recommend scheduling consistent money dates, where you can regularly discuss your finances in a comfortable environment. It’s easier to keep up with the habit when you have it on the schedule.
Everyone has their own backgrounds and feelings about money. Having differences is common. Keep the conversations judgment-free and focused on alignment and understanding.
Combining Finances: Practical Tips
Everyone’s financial journey is different. The goal is to find an approach that works for you and your partner. Having one joint account for shared bills while maintaining separate individual accounts works for many couples.
Money dates can be quick and fun! Review your budget, joint expenses, and upcoming financial goals. Make it enjoyable by pairing it with your favorite beverage or a fun activity afterward.
Be intentional with your money and work as a team. Make sure you’re discussing all of your goals, like saving for a wedding, paying down debt, or building your joint savings.
Even when sharing finances, each person in the relationship needs to maintain a level of financial independence for their own autonomy, safety, and security.
Planning and Evolving as a Financial Team
As your relationship grows, so will your financial goals. Work together to adapt your plans for major milestones like weddings, buying a home, or future family needs.
Understand that financial planning is an ongoing process. Give yourself grace and practice having these conversations regularly.
Be prepared for life’s unexpected moments. Create a financial game plan ahead of time to reduce stress and maintain flexibility.
Finance is one of the leading causes of divorce in America. That’s why it is important to always approach money topics with understanding and without judgment.
Listening and collaboration are key to a successful financial partnership. Finances can be a source of strength in your relationship if approached as a team. Practice, adjust, and stay aligned on your shared vision.
If you want to work with a Certified Financial Trainer to help navigate your finances, schedule a free warm-up call today! If you have any ideas or questions for the show, send an email to trainerpodcast@fingyms.com.
Resources
Meet The Trainer
Meet Garrett Faulconer, Certified Financial Trainer
Meet Gina Funaro, Certified Financial Trainer