In this episode, Austin and Bob discuss the challenges and dynamics of money in relationships, particularly focusing on how financial stress can affect marriages. 

They agree that money problems often magnify underlying issues in a relationship rather than being the root cause. They stress the importance of addressing these deeper issues to improve financial harmony and touch on the role of budgeting, and the importance of having an emergency fund to alleviate financial stress.

Key Points and Quotes Highlighted:

  1. Financial Stress Magnifies Underlying Issues: Austin and Bob discuss how financial problems often highlight deeper, pre-existing issues in a relationship, such as communication breakdowns, differing spending habits, and emotional dissatisfaction. They emphasize that money issues are usually a symptom rather than the root cause of marital discord.
  1. Personal Experience with Financial Strain: Bob shares a personal story about how differing spending habits and financial mismanagement contributed to the strain in his previous marriage. The frustration of having to manage finances single-handedly and deal with unexpected expenses led to significant stress and resentment.
  1. Importance of Addressing Deeper Issues: Both Austin and Bob agree on the necessity of addressing the underlying emotional and relational issues that financial stress reveals. They suggest that resolving these deeper problems can lead to better financial management and overall relationship health, underscoring that money management should go hand-in-hand with improving communication and trust within the relationship.

“Money isn’t the issue, the money is numbers. It’s the emotion that goes into the money. That’s the real issue. If there’s something burning there, let’s see how that part gets healed and fixed before we come back and figure out how to make you financially successful.”

“There was resentment because I had to bear the responsibility to make it work. The frustration was that it seemed like it was all on me, and it was too much and wasn’t going to change.”

“Every single time that there is a money issue, it always ties back to communication, trust, insecurity, or lack of motivation. Until you address that, it doesn’t matter how much money you make or how much debt you pay off, the money alone won’t fix it.”

Ready to take the next step in gaining control over your money? 

  1. Download the “6 Secrets to Healthy Money Conversations” guide 
  2. Register for my FREE masterclass “Financial Freedom Blueprint” here

Or

  1. Schedule a FREE Discovery Call to determine if you would benefit from 1:1 coaching