Leveling Up with Nicole Smith

Marriage & Money: Its a mindset!

September 01, 2021 Nicole Season 1 Episode 8
Leveling Up with Nicole Smith
Marriage & Money: Its a mindset!
Show Notes

Let me share something with you - Couples that argue about finances at least once a week are 30 more likely to get divorced

Listen…I am NOT arguing about money. 

Our finances are JOINT.  And that takes TRUST. As much as we want to say “what is his is mine and what is mine is mine”…it doesn’t work that way (for us) in our marriage. 

Oh, I know some folks will love this one! Marcus and I, chat about how our Money works in our Marriage! I manage the “wants”, he manages the “needs.” 

Getting married changes your financial life in profound ways. It's not just that you're living together or sharing expenses—you don't need marriage to do that. And while your credit score remains individual, your future choices could be changed by what your spouse brings into the financial picture. 

 Before you exchange vows, it’s important that you and your partner each disclose your full financial circumstances to each other. Because marriage is a legal and financial decision—the government couldn’t care less how in love you are—you need to know what risks you are taking by binding yourself to another person. 

Gems we drop:

·      Partners should fully disclose their assets, liabilities, and credit reports to each other before marriage. 

·      Financial decisions around wedding budgets will affect couples for years—for better or for worse. 

·      Marriage can have major financial benefits, especially if you understand the best way to file your taxes as a couple.

·      Set up a college fund for your children when they are assigned a social security number (through  529!).

Listen to what works for us after almost 26 years!! #trust

Contact Nicole - she can't wait to talk to you!
IG: @thenicole_smith
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email: nicole@jmscreatesleaders.com
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