S2-E12: ”Understanding the Complexity of Blended Family Finances” with Adam Kol

Adam Kol, known as The Couples Financial Coach, helps couples go from financial overwhelm or avoidance to clarity, teamwork, and peace of mind. He also hosts the Couples Financial Coach Podcast.

Adam is a Certified Mediator with experience as both a Tax Attorney and Financial Advisor. He received his law degree from Duke and a Master's in Tax Law from NYU.

Adam is also an experienced social justice advocate and lifelong musician - you can find his Personal Finance Parodies on YouTube, LinkedIn, Facebook, and Instagram!

In this episode, Adam tells us about how many couples make common mistakes such as trying to go straight to the numbers rather than looking at them in the context of goals.

Money is one of the leading causes of divorce, especially in blended families.

"You want to create a sense of trust and safety when talking about money."

"The number one blended family financial mistake is trying to figure out everything all at once--instead pick one topic/priority and get clarity on that first."

"When having these conversations, start with a common point of wanting what is best for the kids."

Begin a money talk by sharing your experiences with money: what did you like/dislike? habits? etc. Then get clear on your financial situation. Finally, look at your financial goals and how to prioritize them.

Links:

Website: https://ahkcoaching.com/

Free Diagnostic Quiz: https://ahkcoaching.com/quiz