[Music] one thing I teach that gets tons of criticism is when I tell married couples to combine their finances so today I want to share more about how you manage and even maximize your dual income in five simple steps and be sure to like subscribe share the episode with a friend all the things all right let's start with the controversial ones step one share a bank account with your spouse listen man we could talk all episode about this but honestly there is something about combining your money and saying "Yes we are one." When we get married we are not two teams running on two different paths like we are sharing a life together if you can share a bed if you can share genetics with little children running around you can share your money and so from a tactical standpoint it's very easy when you share a bank account to know like what's going on in life because it's like "Oh I paid soccer dues the soccer schedule's coming up let's put that on the calendar." Like you're just on the same wavelength with your spouse knowing like what is happening in life but then from a more trusting standpoint it's just showing like we're all in we are all in now if you are in a marriage and there is addiction that's not being addressed if there is you know um infidelity loss of trust possible divorce like anything like that abuse like if you are in a dangerous situation or a situation that you can't trust your spouse then yes have separate accounts but if you are not in that working together I'm telling you when you just go all in and say yeah we're doing this together you're going to see more progress number two is intentionally budget with both incomes so if you earn two incomes and you see both those incomes coming into the household as one income you're going to get to do a lot of things like that's one of the pros about getting married you got two incomes coming in so budget them be intentional with where the money's going sit down and say "Hey every single month here's what we're going to prioritize every single month here's what we're spending on groceries and going out to eat and entertainment and for the kids and everything in life here is where our money's going." And and Winston and I we love Every Dollar it's the budgeting app that we have have and it makes it really easy i can put a link down below if you want to check it out but sitting down together and getting on the same page of where your income's going is so key number three I would tell you to know each other's money tendencies we all have natural tendencies when it comes to money for example I am a spender winston is a saver i like more quantity of things he likes quality things i like to spend money on experiences he likes to spend money on things actual tactical items in life i mean you could go through I'm abundance he's scarcity like we have different tendencies and opposites attract so when your spouse may have different tendencies and that's great but understand those because again in a really healthy way both of these bring strengths to the table so lean on each other in that i talk about these money tendencies in my book Know Yourself Know Your Money um so I'll put that down below too because it's just a great resource as you kind of like walk through some of the stuff because again having different tendencies is not a bad thing in fact together it kind of makes you this power couple of going at the world together and that's what I love now another thing that you should know and be on the same page with with your spouse is internet safety and this is why we love Delete Me in our house delete Me is an incredible service that goes in and removes your online information because we do so much online from social media and online shopping and streaming services paying bills like all of it we are putting our information out into the internet all the time you can get an individual delete me plan that comes out to be around $9 a month if you sign up today at jointdeiteme.com/rachel for 20% off or I'll put a link down in the description all right number four is have a routine when changes occur so changes are going to happen in your life this could be everything from you know changing jobs losing an income an income you get a you get a raise maybe you have a kid maybe you live in a different state than where you did and you know taxes look different like when there are things that happen in life be intentional together set a plan know what to do if you get extra margin or how to cut expenses when money is tight and so together prioritize and say "Yeah if we get some extra money you know or our lifestyle is going up because our income is going up like let's make sure we're doing that intentionally." Or if something happens if there's like a health crisis or a job loss like what are we going to be able to cut so having that plan and being able together to work that change is really important and then number five I would tell you to invest consistently but separately so because you're earning two salaries both of you can have separate retirement accounts both of you maybe your work offers a 401k both need to contribute to that you both can open up a Roth IRA and so being able to say "Okay as a household we're going to invest 15% of our income into retirement." But have your individual retirement plans so that way your money like basically is growing in two different ways which is awesome now investing can be tricky so if you want some information about that check out my episode right here on how to invest the right way in 2025 or click the link in the description all right remember to take control of your money and create a life you love
