In this episode of the Beyond the Bouquet podcast, Zhara interviews financial expert Renate McDonald about the importance of understanding financial freedom as a wife. They discuss the myths and misconceptions surrounding couple finances and the need for both partners to be involved in financial decision-making. Renate emphasizes the importance of open communication, visibility of accounts, and joint responsibility in managing finances. They also touch on the topic of investments and provide practical steps for couples to take, including assessing their current financial standing, establishing goals, and assessing investment options. In this conversation, Renate McDonald shares her expertise on investing as a couple. She emphasizes the importance of research and narrowing down investment options to a maximum of three. Renate also discusses the need for couples to have a similar risk tolerance and to walk together in their investment journey. She highlights the importance of open communication, vulnerability, and breaking down walls in order to have a healthy financial partnership. Renate provides practical tips for tracking expenses and recommends using Excel and the Home Budget app. She also addresses the question of marrying down and emphasizes the importance of seeking God's guidance and surrounding oneself with godly counsel.

Takeaways

• Both partners in a marriage should be involved in financial decision-making and have visibility of accounts.
• Financial independence and separate accounts can lead to problems in a marriage.
• Understanding your current financial standing and establishing goals are important first steps in managing finances as a couple.
• Assessing investment options and risk tolerance is crucial for couples looking to invest.
• Open communication and joint responsibility are key to a healthy financial relationship. Narrow down investment options to a maximum of three and research them deeply
• Couples should have a similar risk tolerance and walk together in their investment journey
• Open communication, vulnerability, and breaking down walls are essential for a healthy financial partnership
• Use tools like Excel and the Home Budget app to track expenses
• Seek God's guidance and surround yourself with godly counsel when making important financial decisions

Connect with Renate here:
LinkedIn :https://www.linkedin.com/in/renatemcdonald/?originalSubdomain=jm
Learn Grow Invest : https://learngrowinvestclub.com/

Connect with Zhara:
Follow Zhara on Instagram @ zhara.marie - https://bit.ly/4aPXjtj

Follow our podcast page @beyondthebouquetpod - https://bit.ly/3xzcKqJ