Posts tagged #financial planning

Don't Be Afraid to Talk About Money

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Are you afraid to talk to your significant other about money?

Do you go shopping and hide your stash in the trunk of your car until the coast is clear for you to sneak the bags in the house?

Or are you the thrifty frugal one and your partner’s laissez faire lifestyle make you crazy?

How is your relationship with money? Y’all cool?

For many people, everything they know and feel about money is based on their upbringing. Rich, poor, single parent, both parents, foster homes… whatever the experience, there has always been a relationship with money. You and the love of your life may not have the same experiences, views, or values when it comes to money. You need to know this and learn how to work with these differences before, during, and after your wedding.

Talk about Money

Let’s say you absolutely hate, with every fiber of your being, talking about money. You hate thinking about money. The thought of someone else asking you how you spend money makes you cringe.

Guess what! Once you start thinking about bringing another person into your life to be your life partner, you have to get over those feelings. You have to let them help you deal with your hatred towards money. Only then will you be able to make decisions for your family, your household, and your future together.

Get Clear

Once you have clarity about how you will spend and save your money TOGETHER, then you can have more peace of mind. You can release the fear and guilt that came in your childhood baggage. You can start to rearrange your thoughts to reflect more satisfaction with your financial decisions.

How Can We Help?

Join me (Randi Martin, Trilogy Event Design) and Lateisha Johnson (Wealth & Wellness Network) for cocktails, appetizers, and conversations about MONEY & MATRIMONY.

This unique wedding planning workshop is specially designed for couples who will be combining incomes and spending styles as well as joining their families to become one.

We will have REAL discussions about the cost of planning the wedding you desire. We will also talk about some smart financial steps you need to take BEFORE the wedding to prepare for your happily ever after (buying a home, planning a family, etc.)

You can't afford to miss this educational and entertaining workshop. EARLY BIRD pricing ends March 31. Get your tickets now! We’ll see you there.

DATE CHANGED!

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Please note:

The date for the Money & Matrimony Workshop has changed to APRIL 26, 2019.

All other details remain the same. We will still be at Southern Cross Kitchen in Conshohocken. We will still open the doors at 6pm. We still plan to give you awesome financial planning tips to guide you as you prepare for your wedding, honeymoon, home buying, and family growth.

Early Bird Registration has been extended to March 31. Get your tickets now @ moneyandmatrimony.eventbrite.com

Until then…

Glitter Wishes & Unicorn Kisses

Brace Yourselves: Becoming Financially Equipped for Marital Bliss

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Written By: Lateisha Johnson, Licensed Financial Coach. Author. Founder of Wealth & Wellness Network

You’ve most likely heard the statistics:

·         The leading of cause of stress in a relationship is finances

·         The number one reason marriages fail is because of money issues

·         Hiding money from a spouse is common

Let’s face it! Money is not “everything,” but the lack thereof can cause turmoil in a marriage. Most couples have a difficult time combining finances when they marry because they don’t properly prepare prior to the wedding.  So it is crucial for you and your partner to have an open discussion about money prior to tying the knot.

Here are some practical ways to make the transition from the single life to the married life.

Begin With SMART Savings

A SMART savings is not referring to the SMART goals you may be familiar with (specific, measurable, achievable, relevant and time-bound).  It references a budget for specific wedding and living expenses.

Several Marriage Accounts Reserved for Tasks – which means to put aside cash for various expenses.

Contrary to popular belief, there shouldn’t be just one budget for the entire wedding. Each respective area should have a budget. For example: $10,000 for entertainment, $7,000 for catering, etc. Reserving a savings for specific tasks allow couples to stay within budget, avoiding added stress to the marriage once the wedding is over.

 

Don’t Underestimate The Power of a Financial Professional

One of the most under-utilized tools is consulting a money management professional who can guide you and your significant other during this lifestyle change. For many couples, blending finances can be complicated. Two people who have been independent for decades often find it hard to make such an abrupt change. It is important to discuss how the finances will be managed prior to getting married to avoid arguments about it later.

This is where a Licensed Financial Coach plays a vital role. Having a Licensed Financial Coach lays the foundation for both wedding essentials and after the wedding needs.  It is not about just creating a budget for the wedding, but to also have necessities in place for life after walking down the aisle (Life Insurance, Home Insurance, Investing in Assets, etc.).

It is also equally important that you connect with a Licensed professional, not a person who uses the title “financial advisor,” “money management,” or “life coach.” Be sure that this person has a track record and is licensed with the state/federally.

To learn how you can get a COMPLIMENTARY financial game plan, go to www.lateishajohnson.com.

Remember Life After The Wedding

Although this is self-explanatory, most couples absolutely don’t prepare. Often they put so much emphasis on the wedding that after the honeymoon phrase is over, many money problems arise. Take the time to communicate and prepare.

Preparation is key! Plan to be financially equipped.

Note from Randi Martin @ Trilogy Event Design:

Be sure to continue to follow Money & Matrimony on #weddingwednesday thru April 10, 2019.

Until next time…

Glitter Wishes & Unicorn Kisses

Posted on January 30, 2019 and filed under Wedding Planning.