Love and Money: How finances affect your marriage

Young Black MRS

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Welcome to the mid-season premiere of Young Black MRS. In this episode, Morgane chats with Lea of Mpower Finance about how finances affect your marriage in the Main Event.

Morgane shakes her curls at the idea of marriage being a business decision. Spoiler alert, Morgane is more focused on a long-term partnership.

She chews on vegan-friendly Mexican food from a local restaurant during What You Chewin’.

Here are the key takeaways from the Main Event with Lea of Mpower Finance

Mpower Finance offers education on retirement, estate planning, couple financial planning, and more.

Lea started saving for retirement in her early teenage years and that saving has yielded her over 60K. She learned her great money mindset from her parents, who served as parents and mentors to her in her youth. Though her parents also had humble beginnings, they focused on generational wealth for Lea. This set a strong foundation for Lea to pass along to her daughters.

Mpower Finance offers an online course called Empowered Couples. During this course, Lea and her team do provide excel worksheets to help track the couple’s finances but that information is only shared between the couple. This program helps facilitate the conversation about the couple’s values and goals within their union.

During our discussion about how money affects marriage, the topic of shared accounts did pop up. How did Lea reply…with research of course. Stats show that 95% of couples with shared income are reportedly happier in the relationship. Lea believes this might be true because of the total transparency in the marriage.

So what’s on the horizon for your money? Reports have shown that spending has dramatically decreased since the pandemic. However, with more activities opening up, Lea recommends being cautious with your spending. Consider your couple goals and values before discretionary spending.

Shifting your mindset over money in marriage means a few things. First, shift your mindset to us not me. If you hate the word budget like Lea, reclaim the word by calling it a spending plan. Lea also is an avid investor and prefers investing your money over putting it in a savings account.

Let’s keep the conversation going by connecting with Morgane and Lea on social media. Let the pair know what you thought of this episode.

Stay connected with Morgane

www.youngblackmrs.com

www.facebook.com/YoungBlackMRS

www.instagram.com/YoungBlackMRS

www.instagram.com/Morgane_Eats

https://www.youtube.com/channel/UC0-VsfPB3egPu_OJ6_osL3w

Stay connected with Lea:

www.mpowerco.com

www.instagram.com/mpower_finance

www.facebook.com/MPowerFinance

A few fun freebies from Lea: