Apr 1, 2021
Dr. Patty Ann Tublin is an internationally acclaimed
relationship, emotional intelligence and communication expert. She
is that rare individual who seamlessly moves among
corporations, entrepreneurs and individuals creating business and
personal success through her consulting, coaching and professional
- Michael tells the story of his past business partner and his
partner’s struggles with his relationship with his wife. The stress
she created ultimately ended the partnership.
- Our conscious and unconscious attitude towards money is formed
by the age of 12. It’s formed from the conversations and fights the
adults in our lives have when we are in our youth.
- Fighting about money has nothing to do with whether or not you
have money and has everything to do with what the money
represents to you.
- Chances are Michael’s business partner’s wife was raised in a
saver household and had a scarcity mindset around money.
- Depending on how we are raised, we either imitate the path our
parents showed us or do the complete opposite. We have a
relationship with money just as much as we have a relationship with
people and they are both heavily influenced by your environment
when growing up.
- People don’t do a financial audit of their attitudes towards
money before they get married, and that can come back to haunt
them. As a couple, you need to identify your investing goals and
what money represents to each of you.
- Money is a way to buy stress out of our lives and give us
choices that would otherwise not be open to us. Many people deny
the role that money plays in our lives.
- Your money mindset comes into play whenever you make a purchase
so it’s definitely a conversation you need to have with your
- When it comes to investing, if you don’t invest today to make
your future better then you will have to be satisfied with what you
end up with.
- There is no reward without some element of risk, but if you
find you or your spouse resistant to the idea of investing in
something, you need to address the mindset of why it feels too
- If you don’t understand your risk tolerance you won’t be able
to make timely decisions.
- Differing risk tolerance is the most common money stressor
between married couples. The fear of losing money has to be
addressed, acknowledged, and respected. Chances are that fear is
- There is a lot of power and control attached to money as well
that people should keep in mind. A risk-averse partner might be
trying to wield their power over the other, more dominant,
- One of the most difficult conversations anyone can have is
asking for a raise, despite the fact that the amount of money
involved is rarely life-changing. Money is fraught with emotion for
- When someone in a relationship does show resistance to spending
money, ask them their concerns and then dig deeper to the real
issue. Listen to what’s not being said.
- If you really want to learn about someone, either live with
them or lend them money. The way people pay their bills tells you a
lot about them.
- A couple that is on the same page about money can grow their
business faster and with less stress. It may take some coaching or
therapy to get there but it’s worth it.
- As an entrepreneur, you have to understand your relationship
with money. How much money will you have to put in your business?
What about the money you will have to spend on your personal
development? If you don’t figure out your relationship with money
before you start your business, there will come a time later when
you’ll be forced to.
- Both partners don’t have to be fully involved in the
investments, but there has to be trust and transparency, and
clarity on the goals.
- In marriages where the husband handles the money entirely, it’s
often because of the wife’s money mindset. In order to best take
care of their significant other, they need to have access to that
information. They need to understand where their financial security
is going to come from.
- Every man on the planet has had a woman in their life who has
suffered because of their lack of knowledge about money and
- Money is part of the love story. Many people start with nothing
and the nest egg is something they build together, so both parties
need to be involved and understand what’s happening.
- Seek professional help and let your money work as hard for you
as you do for your money.
Mentioned in this episode:
Michael Rozbruch's Tax & Business Solutions Academy
Money Can Buy You Happiness: Secrets
Women Need to Know To Get Paid What They Are Worth! by Patty Ann