Richard Canfield argues that spouses who are both engaged in money conversations, rather than one partner leading alone, improve family financial outcomes. He describes typical dynamics where one spouse leads while the other stays reserved, and emphasizes starting money conversations with children early to shape the family's future.
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There's our upbringing, and then there's other components to that upbringing, which is sometimes some cultural background. What's really important is having people, spouses be on the same page. And when that does happen, and they're both actively engaged in the discussion and they're. They're learning together, there's always one primary person who's going to take the lead. They're going to learn more, they're going to be more interested in seeing illustrations and some of that stuff. There's usually one person who's more reserved in the back. They just want to make sure that what's happening is actually going to benefit the family and that they can understand enough that they're ready to participate. And when that does happen and you get people on that same track, you automatically tip the scales forward on creating more success as a family unit. Because the discussions that you have, the conversation that take place. Quan, you've shared in some of our group meetings about some of the ways you've incorporated this in discussion with your son around, like, just different things that you guys are doing at a young age. And being able to have powerful discussions about money in the family early on is going to really start to shape how you guys move forward into the future and the way that your family develops.
