Marriage and Money: Budgeting and Financial Planning in Marriage
Phillip discusses budgeting and financial planning in marriage in this episode of the Wealth Building Made Simple podcast. He emphasizes the importance of setting goals together as a couple and focusing on the emotional essence of those goals. Phillip suggests finding a budgeting system that both partners can agree on or seeking the help of a professional financial planner. He encourages couples to approach budgeting and planning from a place of emotional harmony and understanding, rather than compromising on individual desires.
| **Timestamp** | **Summary** |
| ------------- | ----------- |
| 0:00:01 | Introduction to the podcast episode on budgeting and financial planning in marriage |
| 0:01:36 | Importance of setting goals together and focusing on the feeling |
| 0:06:46 | Managing expenses and finding a system that works for both |
| 0:09:37 | Planning and budgeting from a place of emotional harmony |
"I think a big reason why people get divorced is money, and a big reason why people don't get divorced is money."
"Because at the core of all, everything that we all want, regardless of sex, race, religion, is we want good feelings."
"Everything is relative. To one person you might be good at budgeting, to the next person you might be bad."
"You don't have to compromise. You both can have what you want."
"If you come together and know that at the essence of it is the same, “the how” it looks for both of you all will unfold in time, as you both recognize the feeling together."
“Conflict only arises in the interpretation of the desire."
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Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
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