Smart Money Parenting Marriage and Money: Why Honesty and Transparency are Critical
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:
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