Episode 088: Thoughts from Mom-nonymous
Episode 088: Create financial independence and master your money mindset with special guest Estelle Gibson
Estelle Gibson is a CPA and an expert on money management. While growing up, her Dad was the breadwinner and he handled all the money. He influenced her on banking and the importance of saving. However, she later became aware that her Mother had a stash for herself.
Estelle got an education on money management and she did well.
When she got married her husband said he would be happy to be the breadwinner. Estelle could stay home and he would take on the role of money manager. Estelle was happy to let him.
RED FLAG No.1. Never make that mistake. It’s giving up your power.
You need to have separate bank accounts, credit cards, and spending money. Investing in a home is different and you need to agree on payments HOA fees, utilities,and taxes. You need to know that all of this is paid regularly. At tax time you may need a consultant to help you do this. If it becomes too difficult to follow, hire a financial advisor. When it comes to money, the two of you need to be onboard in all aspects of your spending and investments.
Learn how to limit your cash flow.
These are things that everybody should know when approaching marriage. Surprises can be the end of one.
Each week Mom-nonymous shares her thoughts on the episode. Mom-nonymous is a wife, mom, and listener of Life Lafter Divorce Podcast. She’s been married for over 50 years, has never been divorced, and would like to remain anonymous.