EP092 How to be In Love AND Financially Fit with Wendy Brookhouse

Wendy Brookhouse is the founder of Black Star Wealth, a company dedicated to providing comprehensive financial services to professionals, entrepreneurs, and business owners. Wendy has developed unique, easy to implement solutions that remove the friction of anxiety and stress that stand in the way of her clients meeting their financial goals. She is also the inventor of the One Number Solution™, a holistic plan for saving, spending, and debt repayment. Wendy founded QueenPins, a money-raising organization for local causes and serves on the national board for Junior Achievement Canada.

 

Wendy joins me today to share how to be in love and financially fit. She describes how personal relationships and money can co-exist in harmony. She reveals when you should talk about finances in your relationship and polite ways to start those conversations. She stresses why it is vital to understand the costs of purchases paid on credit cards and highlights how your credit score and that of your partner can affect interest rates. Wendy also shares alternative ways you can split and automate living costs with your partner.

“When you start trying to finance vehicles, buy houses, or make other purchases, your credit score will be critical to the rate of interest you will pay.” – Wendy Brookhouse 

This Week on Young Money:

 

• Knowing what is important to you and what is a deal breaker in finances and relationships.
• How to start conversations, introduce the subject of money, and discover money values.
• What a net worth statement shows.
• Understanding borrowing and why it is vital to realize the actual cost of paying back that debt or credit card purchase. 
• Know the price versus cost of things. 
• How your credit score and that of your partner will affect the interest rate for vehicle and house purchases.
• The different ways you can split costs when living with someone.
• How to simplify and automate your monthly finances.
• The benefits of cohabitation and/or prenuptial agreements.

 

Key takeaways:

 

1. It all starts with you and knowing yourself.
2. Be transparent with each other.
3. Have a cohabitation and/or prenuptial agreement.
4. Have regular conversations about your financial goals.

 

Resources Mentioned:

 

• EP007 How’s Your Financial Reputation aka Your Credit Score?
• EP062 What is your Money Mindset?
• EP063 Money Mindfulness with Jessica Moorhouse

 

Connect with Wendy Brookhouse:

 

• Black Star Wealth
• Black Star Wealth on LinkedIn
• Black Star Wealth on Facebook
• Black Star Wealth on Twitter
• Wendy Brookhouse on LinkedIn
• Burn Your Budget: How to Spend Your Way to Financial Freedom by Wendy Brookhouse
• Wendy’s Free Gift

 

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