Money and Relationships - How This MILLENNIAL Couple Budgets Together | Summary and Q&A

TL;DR

A couple shares their financial background, their approach to managing money as a couple, and their shared values on debt, travel, and giving back.

Key Insights

• 🤑 Growing up with different financial backgrounds can shape one's perspective on money.
• 🤗 Having open and honest conversations about finances is crucial in a relationship.
• 🥅 Merging finances and creating joint financial goals can enhance transparency and trust.
• 🤑 Budgeting and managing money together is essential for taking control of money rather than letting it control you.
• ❓ Different financial personalities can complement each other in managing finances.
• 🥶 Prioritizing a debt-free life and valuing experiences can allow for more freedom and opportunities.
• 💳 Building a good credit score and using credit cards responsibly can have long-term benefits.

Transcript

hey guys it's Justine here with debt-free Millennials and today I have my husband Kyle with me well we are going to be talking about our financial overview basically everything that goes into our financial lifestyle as husband and wife so if you're a millennial and you are just figuring out your finances with your partner or you have a significant ... Read More

Questions & Answers

Q: How did the couple merge their finances as a married couple?

They joined their bank accounts into one to simplify their financial management and have a clear understanding of their combined income and expenses. This allows for transparency and trust in their financial relationship.

Q: How do they approach budgeting as a couple?

They have monthly budget meetings where they review their income and expenses, make decisions for the upcoming month, and ensure they are on the same page financially. They use a Google spreadsheet as a tool for managing their finances.

Q: What are their different financial personalities?

One partner is more detail-oriented and enjoys poring over the numbers, while the other partner prefers a high-level overview and a laid-back approach to finances. They complement each other in managing their finances.

Q: What are their shared values when it comes to money?

They prioritize living a debt-free life, valuing experiences and travel, and giving back to their community and organizations they believe in. They also dream of owning a home one day.

Summary & Key Takeaways

• The couple discusses their different financial backgrounds and how they learned about money management from their families.

• They share their experiences with student loans and their efforts to pay off debt.

• The couple emphasizes the importance of transparency, trust, and budgeting in their financial relationship as a married couple.