Episode 29: How To Talk About Money (Without Fighting) with Elle Martinez

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How to Talk About Money (Without Starting a Fight!) with Elle Martinez


About our guest

Elle is the founder of Couple Money and a weekly podcast where she teaches couples how to build up their marriage and net worth by learning to live on one income and have fun with the second.

She also shares information about what matters most to couples looking at spending more time on what they love and less time on the financial minutia. In addition to Couple Money, Elle has been a contributing and guest writer at sites like TurboTaxBusiness Insider, and Entrepreneur.

Notes from the Show

One of the most helpful things the two of you can do to strengthen your marriage and finances is sit down and be open with one another about your money. Unfortunately, many couples allow their fears about how wrong it could go stop them from doing this. This lack of communication can cause huge problems so if you haven’t already, make some time this week to discuss this with your husband or wife.

But how do you get started?

Tips and action items shared on the show

Here are five ways to you two can draw closer and improve your family's finances:

  1. Be Upfront with Each Other

  2. Dream Create Goals Together

  3. Play to Your Financial Strengths

  4. Use Tools That Fit Your Money Styles

  5. Have Regular Money Dates

Be Upfront with Each Other

  • Honesty is the best policy when it comes to finances in a marriage. Financial infidelity can rip apart a marriage. Sit down and look at your numbers – what debts do you have? List all of your assets.

  • If it's too hard for you to open up, then start on the second step and then come back to this step.

Dream and Create Goals Together

  • Where are you two heading towards?

  • When creating financial goals, start off with dreams. After all, money is simply a tool. You can use it to achieve your dreams or you can waste it. What do you two want?

Play to Your Financial Strengths

  • There are many aspects to managing your money: spending, investing, debt reduction, savings, budgeting, and more.

  • As a couple, determine what those areas are, assign roles and responsibilities, and encourage your spouse in his or her respective duties.

Use Tools That Fit Your Money Styles

  • There are so many tools that can make things easier with finances, and quite a few are free. Using the proper tools can free you up from the tedious stuff and allow the two of you to focus on more important things.

Have Regular Money Dates

  • Money dates don’t always have to be around budgets and numbers but they should focus on the family finances.

  • Use these times to remind yourselves of what you're working towards and why. These dates can be an opportunity to grow together.

Learn more about our guest

 Favorite Career Book:  

The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich

by Timothy Ferriss

 

Favorite Tool or Resource:

 

Evernote

 

Number One Parenting Tip

Try to put yourself in your kid's situation.

 

Links From This Episode

Couple Money Website: http://couplemoney.com/

Couple Money Podcast Link in iTunes

Couple Money on Facebook

Mint https://www.mint.com/
Personal Capital https://www.personalcapital.com/
Paribus https://paribus.co/
Digit https://digit.co/

Life Balance by Your Life Rocks Facebook Group

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