Episode 39: How We Handle Business Finances in Our Marriage (and What You Should Do)

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Work Your Wealth
Work Your Wealth
Episode 39: How We Handle Business Finances in Our Marriage (and What You Should Do)
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One of the fun parts of being a financial planner is getting to field and answer questions from clients and readers all around the country. In these Work Your Wealth episodes I’ll be taking time to address and answer questions I’ve come across from readers and clients throughout my career. On today’s episode, I welcomed back my favorite guest to help me answer some of of your money questions. Today Brian Storjohann (yep, my hubby) and I are diving in to tell you about how we handle and address my business (and the finances behind it) in our marriage.

We recorded this episode live from the FinCon booth at Podcast Movement, which means I actually let him sit next to me for this conversation! (Progress!!)

WHAT YOU’LL LEARN FROM THIS EPISODE:

  • How much of the numbers I share (and you should share) around your business finances with your spouse
  • How your business finances relate to and are intertwined with personal finances and goals
  • Ways to address the unease that can come with sharing business finances
  • How to structure conversations so there is no finger pointing or guilt around business success or hiccups
  • Why planning for your personal finances plays a big role in the success of your business
  • How we set income goals for the business(both individually and as a couple)
  • The dollar limit of business purchases that I share with Brian
  • How to plan in advance of business launches and investments to reduce stress
  • Why it is super important to share with your spouse when there are excess funds in the business
  • How sharing business numbers helps your spouse to better support you
  • How often we review numbers and how formal the conversation is
  • Expectations around how long it took for us to communicate effectively around our finances

 

LINKS MENTIONED ON THE SHOW:

LET’S CONNECT!

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Mary Beth Storjohann, CFP® is an author, speaker, and financial coach who takes a fun, no-nonsense approach in working with individuals and couples across the country, helping them make smart choices with their money.

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