The Art of Talking Money in Any Relationship
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How does money affect relationships?
Today, we are talking about how money affects relationships and getting into some of the dilemmas. And this is not the romantic kind. This is just money and relationships.
Handling money differently than your in-laws. All right, next category, co-workers.
The group gift one kind of, it bothers me a little bit.
Hey guys, I'm Rachel Cruz.
I'm George Camel.
And this is Smart Money Happy Hour. This is the show where two friends who happen to be money experts talk about what you're talking about. Everything from pop culture, current events, and money.
We are sipping on a sparkling pink mocktail, which just sounds like the description of the drink doesn't tell you a lot about it. But it is all of those things, and it's very good. So stick around until the end. We're going to give you the rating and reveal the cost per glass. Beautiful. All right. Here's how we got here. We came across an article about a husband and wife with an extra large wage gap who shared their story on a financial podcast recently. Here's the story. Gina earns $555,000 a year as a New York City attorney. James, her husband, earns $60,000 as a freelance musician. The couple uses Gina's salary to travel throughout the year and invest 14%, but they're starting to struggle with this wide income gap. Here's the quotes. Gina said... And I quote, James said, James said,
How would you coach them?
If they called in the Ramsey show, we're sitting there, what would you say to Gina and James?
Yeah, to me, it's less about the income gap. It's more about where do you guys wanna be as a family? So yeah, you can get used to living on what they're making. And in New York City, right, it doesn't go as far as other places. But I would decide, okay, what do we need to make to enjoy our life and not feel this like weird pressure, right? Because I mean, I do think there could be a point that she's able to step away and do something else, not making as much, where maybe she has more flexibility, more time, and she doesn't feel this pressure on her, right? So that would be what I would get to is more of, hey, what do you have to make as a household to run peacefully and enjoy life? But also, whoever brings in the money, I don't know, it's just never been a thing. And Winston and I have been through different seasons. I mean, honestly, like we kind of can flip-flop years. Like he makes more some years, I make more. Like it... And it's never like a big thing, but maybe it's because we're so close. If it was so spread out, maybe I would feel different, but I don't.
Well, if she's making 10 times what he's making, he just feels, I think there's a societal pressure of, well, the man needs to be the provider and there shouldn't be this giant gap or she's the breadwinner. I think times have changed. And now you can be a woman in New York City making 600 grand.
Oh, totally. And so I would celebrate that. Can I ask this though? Do you think there's anything in a dude That's like, man, like you do want to produce. Like is there something wired? Yeah, like there's like a thing there.
I think so.
Because I think for like Winston, like if I quit, I know he would like landscape yards if he had. Like he would just, he's just a workhorse. Like he would just work. He would figure out a way to make money and be like, yeah, I'll take it. Like I don't feel this pressure that I have to in that sense because whatever he could make up. Does that make sense? I don't know. But he has that wired in him.
Well, there's also a piece of, I think you need to be a healthy person. And if you're an unhealthy person who's always comparing and you need to keep up and stack up, you're always going to feel like you're not enough. And so I don't know. I think they're always going to have a discrepancy. I don't know that a freelance musician in New York City at his level is going to make 600 grand anytime soon. So I wouldn't plan for that. I would just celebrate the fact that she makes a great income. Yeah. Let's use it to our advantage, live on less than we make, stack away money so that one day if she wanted to take a step back or let's say stay home with kids one day, if that was her dream, she could do that and they'd be okay.
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