SUMMARY
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In this episode, I speak with Douglas and Heather Boneparth. Douglas, a Seasoned Financial Advisor, and Heather, a Former Corporate Attorney, share their journey and insights on managing finances within a relationship. They discuss the evolution of their financial strategies, especially in light of the global pandemic and how it necessitated a shift in their approach to money and partnership. They emphasize the complexities of merging finances in a relationship, emphasizing that it's not a one-time event but a continuous process. They highlight the importance of communication and understanding each other's financial backgrounds and perspectives.

They also touch on their upcoming book, "The Merge," which explores navigating financial power dynamics within relationships, aiming to provide couples with tools to manage their finances harmoniously. It covers the personal challenges they faced, such as the impact of career changes and the dynamics of working together professionally. Join us as we explore the importance of ongoing dialogue and mutual understanding in managing finances as a couple, ensuring both partners feel valued and empowered.

TAKEAWAYS
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00:02:00 - Douglas and Heather's Early Career and Financial Struggles

00:11:02 - Shift in Career Dynamics and Financial Contributions

00:15:33 - The Importance of Communication in Financial Relationships

00:30:14 - Growth and Success in Their Business

00:40:14 - Advice for Couples Considering Marriage

00:41:57 - Importance of Communication Over Financial Mechanics

QUOTES
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"A global pandemic was not something we accounted for. Whatever we did to set up our financial life before then was no longer relevant to the world we live in now. It's a constant search for equity, balance, and communication to maintain a healthy relationship with money and each other."

"I grew up watching my father and grandfather as entrepreneurs, which baked into my DNA the understanding of money as a tool. This contrasted with Heather's experience, where money was a source of anxiety and not feeling in control."

"It's not just about how you merge your money the first time; it's about how you stay together over the decades. The real challenge is in how couples communicate about money, the autonomy they feel in spending, and how they value each other's contributions beyond financial earnings."

ABOUT MINDFUL MONEY
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Do you struggle with money? You’re not alone.
Money is a means, not an end. It’s a necessity of life for sure, but more money does not always guarantee a “good life”. Money enables many aspects of modern life, but as a dominant consideration it becomes destructive.
The paradox is that more time and energy spent on personal finance does NOT create better outcomes. Unlike many other parts of life, we can’t create better outcomes by being smarter, spending more time, or putting in more effort.
Join Mindful Money author and experienced 40-year investor Jonathan DeYoe as he shares stories from artists, authors, entrepreneurs, and other advisors about how they mindfully minimize their need to think about money and get more out of life.
If you aren’t happy with your finances, feel like money takes more time that it should, or want to place your financial decisions into the broader context of your life, this show is for you.
Each episode will draw the line between the “enough” activities that the academics tell us are additive to family outcomes, and those “little bit more” efforts that take time and sap energy, but do NOT improve outcomes.

GUEST RESOURCES
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Website - https://www.bonefidewealth.com
Douglas LinkedIn - https://www.linkedin.com/in/douglasboneparth
Douglas Instagram - https://www.instagram.com/dougboneparth/
Douglas Twitter - https://twitter.com/dougboneparth
Heather's Instagram - https://www.instagram.com/averagejoelle/
Heather's Twitter- https://twitter.com/averagejoelle

MINDFUL MONEY RESOURCES
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Website - https://mindful.money/
Jonathan DeYoe on LinkedIn - http://linkedin.com/in/jonathandeyoe
Mindful Money on Twitter - https://twitter.com/MindfulMoney_Ed
Mindful Money on Facebook - http://facebook.com/MindfulMoneyPlan
Mindful Money on Instagram - http://instagram.com/mindfulmoneyplan
Mindful Money on YouTube - https://www.youtube.com/c/MindfulMoney

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Podcast Production by FullCast: https://fullcast.co/sn