173. Getting on the Same Page with Money | A Couples Goal Setting Retreat Case Study
Jan 21, 2019
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Jenn Lewis and JP Lewis, dynamic duo in the real estate world, share their decade-long journey from constant money fights to financial harmony. They unravel the magic of annual goal-setting retreats, shedding light on emotional buy-in and the importance of aligning values. Jenn’s insights inspire couples hesitant about collaboration, while JP emphasizes reshaping finances towards meaningful experiences. Discover how community support can elevate your partnership, making financial discussions fruitful and your goals more achievable!
Couples can significantly reduce financial conflicts by engaging in structured annual goal-setting retreats that foster open communication about their priorities.
Being part of a supportive community of goal setters provides accountability and fresh perspectives that help couples enhance their goal-setting journey.
Understanding and reallocating finances to prioritize shared experiences strengthens a couple's financial health and enriches their relationship through memorable moments.
Deep dives
The Importance of Couples' Goal-Setting Retreats
Setting joint financial and life goals is crucial for couples, as individual aspirations can often lead to conflicts, especially regarding money. A decade ago, Jen and JP began their annual goal-setting retreats, which started with simple questions aimed at fostering communication and alignment on their priorities. These retreats have evolved into a structured process, including weekly check-ins, ensuring they remain on the same page. The benefits of this practice include enhanced understanding of each other's goals and a significant reduction in financial disagreements.
Building a Supportive Community
Engaging with a community of like-minded individuals who prioritize personal and financial growth can be transformative. Both Jen and JP emphasized the invaluable support they found in a community that reinforces their goals and practices. This community not only encourages accountability but also exposes them to new ideas and perspectives that challenge their previous limitations. The shared experiences and encouragement within such groups motivate them to strive for their aspirations consistently.
The Power of Open Communication
Effective communication is essential for couples to avoid misunderstandings about spending, saving, and prioritizing goals. Jen initially felt hesitant about their first retreat, fearing it would dive too deeply into uncomfortable details. However, through guided questions that fostered reflection rather than judgment, both gained insights into each other's perspectives. This shift turned their financial discussions into productive conversations that enhance their partnership rather than create friction.
Budgeting with Intention
Understanding each other's values around money is key to effective budgeting as a couple. Jen and JP learned to reallocate their finances to support shared experiences, such as family vacations, rather than focusing solely on material possessions. By prioritizing what truly matters, they have not only improved their financial health but also enriched their family life by creating memorable experiences. This intentional budgeting process has allowed them to align their spending with their overarching life goals.
Embracing Imperfection and Continuous Growth
Both Jen and JP acknowledge that, although they have made significant progress in their financial and relational goals, challenges still remain. They have adopted a mindset that embraces imperfection, allowing them to view setbacks as opportunities for growth rather than failures. By committing to regular check-ins and open conversations about their goals, they continuously adapt and improve their collaboration as a couple. This journey not only strengthens their bond but also sets a positive example for their children, highlighting the importance of adaptability and ongoing communication.
Do you have a New Year’s Resolution about your health, organization, or money?
There’s a good chance you do because, statistically, these are the three most common goals people set every year. But as we mentioned in the last episode, only eight percent of people actually succeed in implementing their resolutions. One of the big challenges here is that you can’t succeed alone, especially if you have a significant other, but so many of us try to.
Today, we are sharing the case study of a couple who ran up against that challenge year after year – which, ultimately, meant they were fighting about money year after year – until they started having an annual couple’s goal-setting retreat 10 years ago. Now, Jenn and JP Lewis never fight about money, and in this episode, we’re going to break down how they did it and the ONE thing you can do today that will make everything else easier or unnecessary when it comes to setting your annual goals.
In this episode, you will learn...
[4:45] Jenn’s advice for anyone who is hesitant to participate in a couple’s goal-setting retreat
[12:00] What it looks like to reallocate funds and time to what matters most, as a team.
[18:00] Why you need emotional buy-in during the goal-setting process.
[25:00] The ONE thing you can do to make starting the couple’s goal-setting process easier or unnecessary.
[43:30] How becoming part of a community of goal setters can bring your couple’s goal setting to a new level.
The ONE Thing to Implement From This Episode:
So, out of everything that you've heard in this episode, what's your lead domino? What's that first step?
We’ll recap the tools covered in this episode, and you can choose just ONE to be your lead domino: