Money matters can get complicated after marriage. These books and podcasts can help couples navigate through them and come out a winner.
Personal finance is a tricky thing to master. And things can get further convoluted for couples as most married people have joint accounts. Marriage can change many aspects of a person’s life. Responsibilities change, and so do priorities. The focus shifts from small material possessions to bigger assets, such as a home. Moreover, a person’s expenses are also likely to increase after marriage. All of this can be confusing to handle.
Worry not. The following books and podcasts can help married couples deal with these changes and align their finances to their needs.
Books for married couples:
1. The Couple's Guide to Financial Compatibility: Avoid Fights about Spending and Saving – and Build a Happy and Secure Future Together
The book by Jeff Motske talks about how couples need to focus on the less talked about things. Most couples talk about where they wish to live and how many children they want, but they miss equally important things such as their spending habits, taxes, saving and retirement goals, etc. The book deals with these issues and talks about how couples can find a common point when it comes to making crucial financial decisions.
2. The Marriage Challenge: A Finance Guide for Married Couples
Authored by Art Rainer, this book can be useful for newly married couples as well as those who have been married for many years. The book talks about how money can sometimes break a marriage and how couples can prevent that by following a few basic principles of money management. The book has been wonderfully written in a storytelling format and makes an interesting read for couples of all age groups.
3. The Heart of Money: A Couple’s Guide to Creating True Financial Intimacy
The author, Deborah L Price, talks about unhealthy financial habits and how they can be a reason for divorce in many cases. Price concentrates on practical techniques and exercises that can resolve financial disputes and improve communication between couples.
4. Get Financially Naked: How to Talk Money with Your Honey
The book has been co-written by Manisha Thakor and Sharon Kedar. It is especially useful for women as it describes how women can take charge of their finances. It also talks about how couples can manage their personal finances together. Short workbook sections and several examples from other women help readers understand their own expenses better.
Related: 6 Financial conversations you must have before getting married
Podcasts for married couples:
1. Marriage and Money: Working Together as Financial Opposites
This podcast talks about how couples can pursue their goals together, such as buying a home, paying off their debt, and more. The podcast also focuses on money fights that couples may have and how they can be avoided.
2. His and Her Money Show
The podcast is run by Talaat and Tai McNeely, who are a married couple themselves. It talks about how people can manage their money and marriage together. The couple talks about taking joint financial decisions and keeping aside unilateral views that can lead to disagreements. They also share their personal experience with the listeners.
3. Equal Partners Podcast
Presented by Adam Kol, this podcast shares tips on how couples can keep money issues out of their marriage. Kol invites a guest in each episode for financial advice and assistance. The podcast addresses various topics, such as education planning for children, saving for a home purchase, dealing with routine expenses, etc.
4. Couple Money Podcast
This podcast offers help on how couples can pay their debt sooner, build a savings pool, and live a financially secure life while learning to agree on most money matters. The podcast is presented by Elle Martinez, who also talks about matters such as financial infidelity, starting a business together, and early retirement.
Related: How married women can attain financial freedom
Managing money alone is very different from handling finances as a couple. Often a couple’s views on savings may not match. Sometimes, one partner could have a different risk appetite than the other when it comes to investments. However, these small hiccups can be eliminated easily. The books and podcasts mentioned in this article can help married individuals handle their money more efficiently by letting them keep their personal biases and prejudices aside and focus on the bigger picture.
Also read smart ways couples can save on Income Tax.