The Marriage Money Masterplan: Free Virtual Workshop to Promote Financial Harmony Among Michigan Couples, Sept. 13

Gesher Human Services, one of the largest human service agencies in metro Detroit which also provides financial education, will be offering a free webinar called The Marriage Money Masterplan at 1 p.m. on Friday Sept. 13. Approximately one in four marriages end because of conflict due to finances, according to the Jimenez Law Firm. The 2024 Fidelity Couples and Money Study found that more than a quarter of partners felt resentful for being left out of financial decisions and more than half can’t agree on how much money they need to save for retirement. This workshop will help married couples, along with those who are engaged or in a long-term relationship, learn the importance of managing money, budgeting, saving, and investing together. It will also cover topics such as adopting similar parenting money styles when making financial decisions for children, open communication, financial goals, income and expenses and financial infidelity. To register go to geshermi.org/events. Gesher’s financial education manager Laltsha Cunningham said she coaches many married couples who have never learned how to manage their finances jointly, leading to division and conflict. “People individually may have a different financial perspective than their partner and they don’t know how to navigate those differences,” she explained. Cunningham said that for a healthy financial relationship being honest about debts and savings and being upfront about how you like to spend and manage your money is vital. She has seen couples where one partner has no knowledge of a large debt that the other partner is holding which leads to distrust and conflict. In addition, when it comes to financial planning as a team, there are some important steps to lay out including: • Financial fundamentals: discussing your financial goals and debt management • Joint finances – are you going to have separate bank accounts or joint ones? • Financial responsibility – who will be responsible for certain bills, how will you manage those bills? • Who will make and manage investments? • Who is going to be the primary decision maker on important financial purchases? • Long-term planning for homeownership, children’s education, retirement, estate planning, life insurance requires deep conversations • Setting up regular financial check-ins • Avoiding financial secrets “Talking about money is not the easiest, but developing strategies for finances as a couple can only make your relationship stronger,” said Cunningham. Additional information about further resources will also be provided for those needing more financial assistance. Gesher Human Services also provides one-on-one financial counseling to the community which can be scheduled by calling 248.233.4299 or email financialhelp@geshermi.org.