050: Money Struggles & Financial Planning

Podcast Guest: Amanda Christensen
050: Money Struggles and Financial Planning

Listen to the Show:

In this Episode

Today’s episode of the Stronger Marriage Connection dives into Amanda Christensen’s personal money mission to help couples learn how to manage their finances and build their connection.

0:00 – Introduction: Who is Amanda Christensen?

2:28 – Why is money such a hard topic to discuss in marriage?

5:03 – Dave’s experience: managing a tight budget as college students.

6:02 – Liz’s experience: managing money when you are developing financial independence prior to marriage.

7:05 – Money autonomy and money wins.

10:00 – Learn your money personality.

11:26 – What does the research say about how couples manage finances?

One spouse handling main finances, trust, communication, chose what kind of account management works for you, discovering how to communicate about money without argument, little or no debt and living within your means.

22:40 – Personal finance is personal!

23:50 – Amanda’s money management tip #1: Have a money plan

25:18 – Amanda’s money management tip #2: Develop financial trust

26:16 – Amanda’s money management tip #3: Talk about large purchases

26:58 – Amanda’s money management tip #4: Talk about debt

28:14 – Amanda’s money management tip #5: What does it mean to live within your means?

30:45 – Amanda’s money management tip #6: Work together during challenge

34:35 – Understanding your own and your spouse’s money script

37:18 – Resources to find out more about Amanda’s work

38:36 – Takeaways

Insights and Invites

Insights

Dave: Developing trust and communication around money builds connection and allows you to be on the same page.

Liz: The key to a couple’s financial success is about doing what is best for them.

Amanda: Even couples in great marriages disagree about money, and that’s okay!

Invites

Take the online “money personality assessment” at powerpay.org and use the code “FWFREETANF” for a free e-course and personality assessment. Discuss your results with your partner.
Develop a money plan with your partner for the next month. See where you are living within your means and may be living outside of your means.
Discover what your money script is by asking yourself the questions Amanda outlines in the podcast. Now, discover what your spouse’s money script is.

About Amanda Christensen:

Amanda H. Christensen is an Extension Professor and Accredited Financial Counselor responsible for statewide personal finance education through USU Extension. She’s editor of the Utah Money Moms blog. She and her team are the recipients of two consecutive Best of State awards for efforts to improve financial wellness across the state. You can view their live webinar schedule or request a free class for your group at finance.usu.edu/efw. On a Sunday afternoon you’ll find Amanda sipping a Diet Coke with lime at the kitchen table over a 1000 piece puzzle listening to an audio book.

Amanda Christensen Links:

PowerPay Money Master Online Course Link: www.powerpay.org

Code for listeners to register for free: “FWFREETANF”

Financial Management Practices of Couples in Great Marriages Research article: https://www.proquest.com/openview/7e860331b30e51876bb6df092364c6b9/1?pq-origsite=gscholar&cbl=37909

Happiness and income research update: https://penntoday.upenn.edu/news/does-more-money-correlate-greater-happiness-Penn-Princeton-research

The gender gap and retirement: https://www.fidelity.com/learning-center/personal-finance/gender-gap-retirement

www.utahmoneymoms.com

@utahmoney moms

www.finance.usu.edu

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