Julia Carpenter

speaker

3,850 appearances 71 recordings 1 series first heard Oct 2019 last heard Sep 2024

Julia Carpenter’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Couples Take On CFO, COO Roles to Handle Household Tasks · 22 Aug 2023 podcast

Yes. matched

Ideally, the person who is the COO is the most organized person. matched

They're the one who maybe just naturally wakes up a little bit earlier. matched

They're the one who likes booking things and knowing what's happening and managing the calendar. matched

And the CFO is naturally somebody who listens to personal finance. matched

podcasts like this one or already does spreadsheets and budgeting as part of their job. matched

Where it becomes a problem is when both people are shoehorned into those roles without really thinking about who is best or most natural or most inclined or maybe has the most time for those roles. matched

There's a couple that come to mind right away. matched

One is that when you separate out these roles, you're allowing both people also to build expertise in these roles. matched

When you start doing a task repeatedly and you're not just trading off with your partner who does things because one of you is free, then you get good at it. matched

If you're the one who's always managing the calendar, you're going to get really good at knowing when everyone has to get to everything and thinking into the future. matched

If you're the one who's managing the investments, you're going to get really familiar with managing those investments and understanding what that means for your money. matched

The other thing that comes to mind too is that separating the roles necessitates talking to one another. matched

So if you're the one who is planning travel for the foreseeable future, then you have to talk to the CFO to understand how much money we have for travel. matched

So even though you're not the one who's bogged down with the task or the chore of doing that, you're able to then talk to the person who's an expert in that. matched

And get their insight in order to plan. matched

Yeah, part of the issue is communication. matched

So if you divide these roles, you're doing that to streamline things. matched

You're doing that to help manage the chaos that I mentioned earlier. matched

When you're not communicating about that, though, when all of a sudden you see that, okay, I'm the one who's supposed to be putting in the grocery order and the grocery budget has been cut in half and I didn't even know that, that's when you're going to have a conflict. matched

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