Freedom Through Passive Income

Ep 324 - How To Talk To Your Spouse About Money & Find Common Ground - Part 1: The Why

Flip & Dani Robison Season 1 Episode 234
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00:00 | 11:37

This is something that we asked in our Freedom Through Passive Income Facebook group at one point in time, are you and your spouse on the same page about money? And it was surprising how many people said no. This will be a four part series because it's four sections of conversation that you want to be prepared to have with your partner.

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This is the first of a four-part series and we are beginning with talking to your spouse about why money is important to you. We cannot make assumptions that in a relationship, we are automatically on the same page when it comes to finances. Is our money important to have to spend on vacations, home projects, helping our families or creating generational wealth? These questions are important for couples to not only understand but to agree upon. Other conversations that are important to have are those relating to creating passive future income, how we want to save, how we can reduce our tax burden and what type of reserve we should set aside in case of a crisis.  It is also important to discuss contingencies such as how can we care for our parents, who raised us and what do we do if we empty our savings?  We must work to understand the needs of our partner and communicate to ensure that the financial facet of our relationships are solid.  


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