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Successful financial partnerships include more than just division of money – they need equality in financial knowledge and decision -making.
“What I seek is to create equity and equality within families when it comes to financing and money,” said Doug Bonbarter, President and founder of Bone Fide Wealth, in a recent episode of the code jaw retirement (see the video above or listen below). “What we seek here is that everyone knows as a minimum where your origins are, and know the income that is created, and has an idea of home expenditures, both of which have access to accounts.”
BoneParth and his wife are writing “Money together”, “ A book will help couples to hold meaningful and productive financial talks.
Instead of advice on joint accounts, they aim to help husbands to move in five decisive areas of financial partnership: financial upbringing, errors in the past money, responsibilities of providing care, energy dynamics, and tolerance of risks.
In the end, health talks about money lead to stronger relationships, happier families, and better results for all concerned, Bonepart said.
“Money is one of these games. It is difficult. “
In podcasts, BoneParth emphasized that although it is good for one partner, the Department of Daily Financial Affairs, both partners need to participate actively to achieve financial equality in the relationship. This includes knowing the location of all accounts, joint access to applications and financial accounts, making regular checks to review the net value and goals, and understanding both the quantitative and qualitative aspects of money management.
He said: “There is no healthy or wrong path as much as the division of labor goes. But it will be completely unacceptable (my wife) to know where the accounts are, and the place of their existence, how to reach them, how our pure wealth looks, how spending appears.”
Bonbartith said that he and his wife are sitting to overcome financial affairs on a quarterly basis.
He said: “We are going through a clear value, we take a look at how we work, and we have already a real conversation about what is going on behind these numbers.” “The numbers tell you a lot of story only. What about our goals? What did we do well this year? Do you not hesitate to spend?”
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