In this episode, Chris and I tackle two questions from our community that we see coming up time and time again: How do you create financial independence within a marriage, and how do you get on the same page with your spouse about money?
Key Topics:
The Reality for Women & Finances
Nearly 1 in 3 Canadian women have no individual savings outside shared household finances
After divorce, women's household income drops 23% on average (vs. only 10% for men)
Women live 4-6 years longer than men but hold significantly less in retirement savings
Why We Need to Talk About This
Money is likely the #1 reason for divorce after infidelity
We share our own journey—from financial stress and scorekeeping to building a healthier partnership
The importance of viewing both partners' contributions (including stay-at-home work valued at $150-200K/year!) as equal
Getting on the Same Page: Our Best Advice
Start with the numbers—listen to last week's episode on preparing for a financial needs analysis
Have the uncomfortable conversation and sit with the discomfort
Focus on shared goals and values, not just budgets
Schedule regular "money dates" to stay aligned
Building Financial Independence Within Marriage
Why you need separate accounts AND joint accounts
Making sure both names are on major assets (mortgage, house deed, etc.)
Understanding life insurance, disability, and critical illness coverage
The difference between mortgage insurance and personal life insurance (this one's huge!)
Creating a shared document with all your accounts and investments
Red Flags to Watch For
No access to financial information, logins, or passwords
One partner controlling 100% of the money
Being blocked from working or creating your own income
Action Steps:
Have the conversation—even if it's uncomfortable
Get educated on basic financial literacy
Consider booking a call with a financial advisor to create a plan together
Make sure you both understand where all your money is and how it's protected
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New Zealand