The Heart of Money | Financial Guidance for Couples, Money & Marriage, Motivation, Inspiration

Every couple experiences so level of chaos on a daily basis. Whether it's related to money, kids, work or your marriage, each day provides obstacles that threaten to steal your joy and sanity. This week, EJ & Tarah Kerwin, hosts of the ⁠Relationship Renovation podcast⁠ and licensed marriage counselor and therapist, share their personal stories of navigating difficult situations to find a peace and calm in each other. We discuss their challenges early on in marriage with babies, finances and learning to communicate effectively with one another. EJ & Tarah share how they journeyed as husband and wife to discover new ways of supporting each other and reveal strategies they teach their clients to combat the fears and frustrations of daily life. Learn more about ⁠Relationship Renovation here⁠ Ready to take the next step in gaining control over your money?  1.⁠⁠ Discover the 5 budget categories you need to be in control of your money⁠⁠⁠ 2.⁠⁠ ⁠Save Your Seat for my FREE masterclass “Financial Freedom Blueprint” here⁠⁠⁠ Or 3. Schedule a⁠⁠ ⁠FREE Discovery Call⁠⁠⁠ to determine if you would benefit from 1:1 coaching

Budgeting with your spouse is no simple task. But budgeting without your spouse is an impossible feat. This week, Austin and Bob bring their wives back to the show to share their success stories and lessons learned about budgeting as a couple. True to form, there are numerous differences in opinions, approaches and strategies used by each couple, but a few key lessons remain the same among all parties. As Austin & Laura reflect on their journey to clearly communicate with each other, Bob & Kate share their struggles and successes with managing separate, and now combined budgets. In the end, both couples share their tips for finding success in this management strategy and ensuring your spouse feels heard and understood. Ready to take the next step in gaining control over your money?  1.⁠ Discover the 5 budget categories you need to be in control of your money⁠⁠ 2.⁠ ⁠Save Your Seat for my FREE masterclass “Financial Freedom Blueprint” here⁠⁠ Or 3. Schedule a⁠ ⁠FREE Discovery Call⁠⁠ to determine if you would benefit from 1:1 coaching

This week, financial coach Dawnette Palmore joins Austin to discuss her journey of overcoming personal and business financial challenges. Dawnette highlights the impact of financial stress on relationships and the need for open communication with your spouse AND with your children. She offers insight into how couples can work together to achieve financial peace and model healthy money habits for their children. As she and Austin discuss different strategies for communication, Dawnette reminds that modeling sound financial management habits are important to help kids have a solid foundation when they grow older. Topics such as saving for a large purchase, the value of money and the need for consistent financial education are all relevant conversations that she encourages parents to have with their kids.  Ready to take the next step in gaining control over your money?  1.⁠ Discover the 5 budget categories you need to be in control of your money⁠⁠ 2.⁠ ⁠Save Your Seat for my FREE masterclass “Financial Freedom Blueprint” here⁠⁠ Or 3. Schedule a⁠ ⁠FREE Discovery Call⁠⁠ to determine if you would benefit from 1:1 coaching

This episode dives into the dynamics of financial management within a marriage, discussing who should take the lead in budgeting. Austin and Bob highlight that there is no one-size-fits-all approach; instead, it depends on the unique strengths, preferences, and circumstances of each couple. While traditionally, wives may take the lead due to their attention to detail, there's a growing trend of husbands stepping up to manage finances, emphasizing that both roles are valid depending on the couple's dynamics. They discuss various scenarios where one spouse might naturally be better suited to handle the finances, while the other might need to learn and adapt. Austin and Bob stress the importance of mutual agreement and cooperation, noting that while one person may take the lead, successful financial management in a marriage requires both partners to be involved and communicate effectively. The episode underscores that the key to deciding who should manage the budget lies in who has the time, skill, and willingness to take on the responsibility, ensuring that it aligns with the couple’s overall financial goals and relationship dynamics. Ready to take the next step in gaining control over your money?  1.⁠ Discover the 5 budget categories you need to be in control of your money⁠⁠ 2.⁠ ⁠Save Your Seat for my FREE masterclass “Financial Freedom Blueprint” here⁠⁠ Or 3. Schedule a⁠ ⁠FREE Discovery Call⁠⁠ to determine if you would benefit from 1:1 coaching

Whether you're engaged, recently married or celebrating a decade as husband and wife, talking about money with your spouse is something you're probably scared to do. But it's the key to developing healthy money management habits as a couple and winning with money in your marriage. Unfortunately, many couples wait to talk about money until there's a big decision to make or they face conflict. And that only makes the decision and conversation hard(er). In this week's solo episode, Austin shares 3 questions that every couple needs to ask each other to make sure they are on the same page and are ready to achieve financial success together. Ready to take the next step in gaining control of your money? 1.⁠ Discover the 5 budget categories you need to be in control of your money⁠⁠ 2.⁠ ⁠Save Your Seat for my FREE masterclass “Financial Freedom Blueprint” here⁠⁠ Or 3. Schedule a⁠ ⁠FREE Discovery Call⁠⁠ to determine if you would benefit from 1:1 coaching

This week, Austin and Bob discuss the concept of "Nerds" and "Free Spirits" when managing money in a marriage. They share their own tendencies with money and why couples often face challenges when merging their different financial habits into one combined method. Austin and Bob highlight the importance of understanding the Nerd and Free Spirit tendencies in a relationship so each spouse learns how to communicate with and respect their partner when discussing money and finances. And they emphasize how this practice helps alleviate many financial conflicts in a relationship. Ready to take the next step in gaining control over your money?  1.⁠ Discover the 5 budget categories you need to be in control of your money⁠⁠ 2.⁠ ⁠Save Your Seat for my FREE masterclass “Financial Freedom Blueprint” here⁠⁠ Or 3. Schedule a⁠ ⁠FREE Discovery Call⁠⁠ to determine if you would benefit from 1:1 coaching

Austin Black welcomes James and Amberlee Rich, founders of Rich Living Coaching, to discuss their work in helping couples reduce financial stress and build confidence. They emphasize automating good financial behaviors, celebrating small wins, and the transformative power of clarity in managing personal finances, illustrating how these strategies empower clients to change their financial identities and habits for the better. Their conversation centers around the importance of coaching, particularly in financial and personal development realms. James and Amberlee emphasize that while information is abundant, transformation comes from applying knowledge with personalized support. They discuss how coaching accelerates progress, provides accountability, and tailors strategies to individual needs, and they stress the value of finding a coach who aligns with personal values and offers a supportive, non-judgmental environment.  Ready to take the next step in gaining control over your money?  1. Discover the 5 budget categories you need to be in control of your money⁠ 2. ⁠Save Your Seat for my FREE masterclass “Financial Freedom Blueprint” here⁠ Or 3. Schedule a ⁠FREE Discovery Call⁠ to determine if you would benefit from 1:1 coaching

In the final episode of the savings series, the conversation focuses on distinguishing between savings and investing. Savings involves putting money in a bank or money market account, offering low risk and moderate returns, mainly for short-term goals and emergencies. Investing, on the other hand, involves higher risk for potentially higher returns over the long term, such as through stocks or mutual funds. Austin and Bob highlight the importance of understanding the right time and place for each strategy, particularly for those new to financial management. They emphasize that a balanced approach, including both savings for security and investing for growth, is crucial. They discuss the limitations and benefits of various options like high-yield savings accounts, CDs, and market investments, stressing the need for diversification. Additionally, they note that individuals' decisions should be tailored to their specific financial situations and goals, taking into account factors like risk tolerance and time horizon.  Ready to take the next step in gaining control over your money?  1. ⁠Watch my free training on the 5 budget categories you need to be in control of your money⁠ 2. ⁠Register for my FREE masterclass “Financial Freedom Blueprint” here⁠ Or 3. Schedule a ⁠FREE Discovery Call⁠ to determine if you would benefit from 1:1 coaching

Brian Madeleine of Madeleine Financial Coaching joins the show this week to talk about a shift in his client base towards couples needing help with debt and financial organization. He and Austin emphasize the impact of recent economic challenges, such as inflation, on people's financial habits and stress levels, highlighting the necessity for regular financial check-ins and effective communication within relationships. Austin and Brian discuss the difficulty couples face in managing finances amidst busy schedules and economic pressures, and agree that despite the challenges, open communication and shared responsibility are crucial for achieving financial stability and success. Ready to take the next step in gaining control over your money?  1. ⁠Watch my free training on the 5 budget categories you need to be in control of your money⁠ 2. ⁠Register for my FREE masterclass “Financial Freedom Blueprint” here⁠ Or 3. Schedule a ⁠FREE Discovery Call⁠ to determine if you would benefit from 1:1 coaching

In part 3 of the Savings Strategies series, Austin and Bob discuss if couples should put their extra money toward building their savings or paying down debt. Spoiler alert - the answer is "it depends". Austin and Bob help couples analyze the many variables that impact this decision and discuss the difference in interest rates vs financial momentum, along with the type of debt you're carrying. Ready to take the next step in gaining control over your money?  1. Watch my free training on the 5 budget categories you need to be in control of your money 2. Register for my FREE masterclass “Financial Freedom Blueprint” here Or 3. Schedule a FREE Discovery Call to determine if you would benefit from 1:1 coaching

Austin is joined by Jessica Pratt, a financial coach and founder of WyoU Financial Strategies. Jessica discusses her passion for helping people make confident spending decisions to save money for various goals like investing, managing risk, or simply having more fun.  Austin and Jessica discuss the distinctions between financial coaching and investment advising, agreeing that while financial advisors often concentrate on investable assets, financial coaches help clients build a strong foundation to prepare for investments. Jessica discusses her experience helping clients develop financial systems tailored to their needs, emphasizing the importance of consistency in managing finances, and highlighting how a structured approach can lead to long-term success. The episode underscores the importance of a holistic financial approach, combining effective spending, saving habits, and investment strategies, tailored to individual needs and goals. Ready to take the next step in gaining control over your money?  1. Watch my free training on the 5 budget categories you need to be in control of your money 2. Register for my FREE masterclass “Financial Freedom Blueprint” here Or 3. Schedule a FREE Discovery Call to determine if you would benefit from 1:1 coaching

In part 2 of the Savings Strategies series, Austin and Bob explore the importance of savings in financial management and provide tips on how to get started. The discussion covers challenges people face when trying to save, such as societal pressures to spend and a scarcity mindset.  Their discussion revolves around the importance of balancing financial decisions with mental and emotional well-being, as they touch on the mindset challenges people face when saving money. They continue by highlighting the importance of budgeting and tracking expenses to gain control over finances and conclude with sharing how they as coaches can help couples by providing an external perspective and aid them in achieving financial security at a comfortable pace.  Ready to take the next step in gaining control over your money?  1. Download the “6 Secrets to Healthy Money Conversations” guide  2. Register for my FREE masterclass “Financial Freedom Blueprint” here Or 3. Schedule a FREE Discovery Call to determine if you would benefit from 1:1 coaching

Austin welcomes Angie Carlson, a financial coach with over 20 years of experience in finance, including a decade as a financial aid director. Angie owns Carlson Financial Coaching and specializes in helping clients manage their finances through better money communication, particularly among couples. Angie shares her personal experience of overcoming financial struggles with her husband, emphasizing that their success came from improving their communication rather than simply following a budget. They paid off significant debt and managed financial crises by agreeing on priorities and refining their approach through experimentation. She believes in making incremental changes rather than overhauling everything at once, and stresses the importance of understanding each other’s perspectives and motivations. Ready to take the next step in gaining control over your money?  1. Download the “6 Secrets to Healthy Money Conversations” guide  2. Register for my FREE masterclass “Financial Freedom Blueprint” here Or 3. Schedule a FREE Discovery Call to determine if you would benefit from 1:1 coaching

This week, Austin and Bob begin an extensive series on savings strategies…but not from the standpoint you might expect. In fact, this first episode will explore different attitudes towards saving, from extreme penny-pinching to a more balanced approach, and why you might be causing more harm than good to your financial management if you save for the sake of saving. Instead, they talk about the importance of having a purpose and strategy behind saving and discuss the impact of early life experiences on one's mindset about money.  Key Points Highlighted: 1. Why You Need to Be Purposeful with Saving: Saving money should be done with a clear purpose and strategy in mind, rather than simply saving for the sake of it. Whether it's for emergencies, future goals, or protection, having a specific reason for saving helps ensure financial stability and growth. 2. Having a Balanced Approach: There's a spectrum when it comes to saving, ranging from extreme penny-pinching to a more balanced and intentional approach. It's important to find a middle ground that allows for saving while still enjoying life and taking care of immediate needs. 3. Early Life Experiences:  One's attitude towards money is often shaped by early life experiences and upbringing. However, as individuals mature, they have the power to shape their own financial mindset and behaviors, regardless of past influences. It's essential to assess and adapt one's approach to saving based on personal goals and circumstances. Ready to take the next step in gaining control over your money?  1. Download the “6 Secrets to Healthy Money Conversations” guide  2. Register for my FREE masterclass “Financial Freedom Blueprint” here Or 3. Schedule a FREE Discovery Call to determine if you would benefit from 1:1 coaching

This month, we’re starting a series of conversations with other financial coaches, discussing the commonalities of what we see our clients face, how we help them overcome those challenges and what tactics couples can use to start taking complete control of their money.  My first guest coach is Kelsa Dickey, with Fiscal Fitness Phoenix and the Financial Coach Academy. A 15 year veteran in the personal finance coaching world, Kelsa has plenty of stories, experiences and lessons she’s told, seen and learned with her clients.  Her approach integrates insights from the financial and fitness realms, drawing parallels between managing money and maintaining physical health. In this conversation, Kelsa talks about finding a financial approach that aligns with her client’s natural inclinations or goals, and highlights how important mindset and consistency is to achieving financial success. She delves into the personal aspect of money management, addressing fears and misconceptions that often hinder progress, and emphasizes the significance of personal buy-in to any financial plan.  Kelsa also alludes to the life changing benefit of working with a personal finance coach and comments that managing money is not a one-size-fits-all approach, which means most people need personal guidance and accountability to truly succeed in their journey to achieving financial independence. Ready to take the next step in gaining control over your money?  1. Download the “6 Secrets to Healthy Money Conversations” guide  2. Register for my FREE masterclass “Financial Freedom Blueprint” here Or 3. Schedule a FREE Discovery Call to determine if you would benefit from 1:1 coaching

In this episode, Bob and Austin discuss the importance of financial management and outline three pillars essential for financial success. They emphasize the significance of having a vision or setting goals as the first pillar, followed by creating a plan or budget as the second pillar. They delve into the tactical aspects of budgeting and emphasize the need for understanding the emotional intelligence around money. Finally, they highlight the third pillar, which focuses on managing behavior, taking personal accountability, and committing to actions to achieve financial goals. They discuss the challenges and rewards of this process, emphasizing the transformative nature of mastering financial management. Throughout the conversation, they stress the value of coaching and support in navigating these pillars effectively. Ready to take the next step in gaining control over your money?  1. Download the “6 Secrets to Healthy Money Conversations” guide  2. Register for my FREE masterclass “Financial Freedom Blueprint” here Or 3. Schedule a FREE Discovery Call to determine if you would benefit from 1:1 coaching

David was raised to believe that money was bad and Paige grew to have a scarcity mindset around finances. When the two got engaged, it quickly became clear that money was a pain point for them both. Fortunately, they connected with Austin and joined his coaching program, which has completely transformed their financial understanding and success. This week, David and Paige share their story of finding Austin and going through his coaching program, revealing the monumental changes they experienced around understanding and managing money as a couple. Hear how their experience and commitment has allowed them to overcome their fear and frustration of financial management so that they can take complete control of their money. When you're ready, here are a couple ways Austin can help: 1) Download the "5 Secrets to Healthy Money Conversations With Your Spouse" guide 2) Register for the FREE Masterclass "Financial Freedom Blueprint" 3) Schedule a FREE Discovery Call with Austin

Coming off our conversation around managing finances and bank accounts as a couple, Bob shares his experience transitioning from managing expenses and a budget separately from his wife, to combining their expenses into a shared budget, while still maintaining separate checking accounts. This change was motivated by past struggles with financial management in previous marriages. Bob and his wife now use a joint budgeting app to track expenses, and continue to work on aligning this method with their individual budgeting styles. He talks about the benefits, challenges and overall perspective he is experiencing and how he hopes this will bring stronger financial unity to his marriage in the future.

There can be strong opinions around the best ways to manage finances as a couple. One of those opinions includes whether to keep finances combined into one account or separate into different accounts. This episode touches on personal experiences and perspectives Bob and Austin have with each approach, with one advocating for combined finances for the sake of unity and trust, while the other shares cautionary experiences and concerns about trust and accountability. They highlight the complexity of managing finances as a couple and the importance of finding a strategy that works best for each unique relationship.

This week, our conversation revolves around discussing bad financial habits that are costing you money. Some of these habits you might not even realize you do. We emphasize the importance of budgeting, tracking expenses, and maintaining financial discipline to avoid overspending and financial stress. We also touch upon the limitations of certain financial apps and underscore the necessity of developing good financial habits for better money management. Be sure to check out these FREE resources to help you start gaining complete control of your money. FREE Masterclass "Financial Freedom Blueprint". Register at freedommoneycoach.com/training Download "6 Secrets to Healthy Money Conversations With Your Spouse" at freedommoneycoach.com/moneyguide