The Marriage Money Masterplan: Free Virtual Workshop to Promote Financial Harmony Among Michigan Couples, Sept. 13!
With around one in four divorces due to finances, Gesher Human Services offers help to couples to manage their money, budget, save and invest together to reduce conflict.
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.
About Gesher Human Services
Gesher Human Services is a non-profit organization providing a bridge to hope and opportunity for people at work, at home and in the community. It is dedicated to helping people across metro Detroit lead more stable and fulfilling lives through workforce development, career mobility, behavioral health, inclusion programming and residential services that serve all metro Detroiters while meeting the needs of the Jewish community.
The organization works with job seekers, people with disabilities, older adults, and the community at large to provide skills, support, and equitable opportunities for people to succeed. Uniting two of metro Detroit’s most influential Jewish human services agencies, JVS Human Services and Kadima, Gesher brings over 110 years of combined experience facilitating equitable employment opportunities and better mental health outcomes for residents.
With a network of more than 400 employees and volunteers across 25 locations in southeast Michigan, Gesher delivers a continuum of services and support that directly impacts the lives of over 26,000 individuals and families annually. More information at www.geshermi.org.