Love & Money Stories with Hannah Chapman
Love & Money Stories with Hannah Chapman
In today’s episode, Hannah Chapman joins Megan to discuss the sensitive topic of love and money stories. Chapman, a certified financial planner and entrepreneurial wealth coach, sheds light on the emotions that our money stories are tied to and how they affect our relationships with money. Couples, especially those in the context of immigration, have to confront intimate aspects of their finances early on in their relationships. By understanding our own money stories and being aware of our partner’s stories, couples can navigate these complex conversations and grow their relationships. The consequences of not having these conversations can be dire, with financial issues being a significant contributing factor in divorce.
Together, Hannah and Megan discuss the power dynamics and potential resentment that can arise in joint finances, especially when it comes to conforming to the traditional view held by immigration authorities. They suggest that couples should start by identifying what they each want for their future and work from there to find a compromise. Through working towards a “yours, mine, and ours” approach to joint finances, couples can avoid resentment and build a stronger relationship. Communication and vulnerability are key in these conversations, and one person’s decision to make a change can have a powerful ripple effect on the relationship. In short,today’s episode offers the sound advice that, by being aware of our own and our partner’s money stories and communicating openly, couples can create a stronger and more sustainable relationship.
Episode Highlights:
- Money stories and how they shape our relationship with money
- Confronting intimate aspects of finances in relationships, especially in the context of immigration
- Tying money stories to our sense of survival and personal well-being
- Navigating complex conversations about money and finding a compromise that works for both partners
- The consequences of not having open and honest communication about finances
- Maintaining individual autonomy in joint finances to avoid resentment
- Overcoming the fear of sharing feelings and working towards better communication
- The impact of financial planning in creating peace and balance in a relationship
Quotes:
“Our money stories go so deep into our sense of survival and into our sense of our personal well-being that it can be very vulnerable to open up and share about that or even just to look at it for ourselves.”
“When your partner either grew up in a different country or a different culture or even a different socioeconomic class, it can make it seem like you guys are not even on the same planet when you’re talking about money or making money decisions.”
“It’s not that one person is doing it wrong and one person is doing it right. It’s that one or both partners feels that they have zero autonomy.”
“When a partner has felt heard and seen and understood in the smaller conversations, they feel more able to speak up in the bigger conversations.”
“When we learn how to make peaceful financial decisions, that flows through to everything else as well.”
Links:
Immigration for Couples on LinkedIn
Immigration for Couples Website
Hannah’s Upcoming Webinar Wealthy Women Rising Summit on May 25, 2023 Topic: Hidden Money Stories: How shedding light on your money stories leads to expansive prosperity