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Want to get on the same page with your money? Carl Richards, NY Times money columnist and author, shares tips on to create a one-page financial plan! 

Get on The Same Page with Your Finances and Lives

Want to get on the same page with your money? Carl Richards, NY Times money columnist and author, shares tips on to create a one-page financial plan!

If you've been in this community for a while, you know our main goal is building your marriage and net worth together

By making it a team effort, you will not only hit your financial goals, but you two will have a happier relationship. 

The question that comes up a lot, though, is – how do you get on the same page with money? How do you start talking about money? 

For many in our community, it's challenging because we seem to have married our financial opposites. 

You may want to save for early retirement while your spouse wants to enjoy the money now. You may have plans to invest in index funds, but your spouse is looking at real estate. 

The good news is those differences can be a tremendous source of strength as you can evaluate things from different perspectives. 

The trick, though, is creating a system where you can both play to your strengths. 

How can you get on the same page and develop a game plan that works for both of you?

We're going to look into that today with Certified Financial Planner and NY Times columnist Carl Richards.

His latest book, The One-Page Financial Plan, offers a way you two can connect not just with your finances, but your lives.

In today's episode we get into: 

  • the most important question you two need to answer about money
  • how you can plan for retirement with just three guesses
  • how a financial plan can cover more about your marriage than just the numbers

If you hate the complex equations and almost confusing jargon thrown out by financial experts, then listen in.

Carl breaks it down into practical steps and doable strategies.

Hope you enjoy! 

Resources to Get on the Same Page with Money and More 

Looking to create your financial plan together? Here are some resources to make things easier! 

Want to get on the same page with your money? Carl Richards, NY Times money columnist and author, shares tips on to create a one-page financial plan! #marriage #money #family #debtfree #fi #financialindependence

One Page Financial Plan: Is That Possible? 

We know having a financial plan important for couples and we should have one if we want to get ahead, but how many of us actually do it?

Most people visit financial planners because they want answers on what to do with their money.

They want to know how much to save and invest, which debts to pay down first, or whether or not they can retire soon.

Their planner may come up with a 20 year plan, filled with pages of charts and tables listing in detail what should happen when.

It looks great. Every possible detail and life event has been accounted for.

And what do most people do with it once it's done? 

Leave it in a drawer or file cabinet where it gathers dust. Why?

Because it seems like too much. Or maybe something unexpected happens threw off the carefully crafted plans out the window and they have no idea how to fix things.

Why Is Money Important to You?

He starts off with a question he asks of clients – why is money important to you?

From there Carl goes into how you two can figure out exactly what matters most to you so you can build a real financial plan.

He also gets into how easy it is to plan for retirement with just three guesses. (And why guesses are more practical and effective than forecasts included in the meticulously calculated twenty page financial plans advisors may give).

If you want to find out more about how you can be smarter about your money, please pick up Carl's book The One Page Financial Plan.

It's a quick read, easy to follow, but the advice he gives is effective.

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This episode was originally released April 2015. show notes were updated November 2022

About Elle Martinez

Elle Martinez helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second..