Why Every Woman Needs Her Own Money Before Marriage | Vivian Tu

0:00Hey everyone, it's me, Morgan Stewart, and I have a new podcast called The Morgan Stewart Show. Join me each week as I talk about pop culture, fashion, my personal life, and just a warning, I'm going to be giving my opinion on everything. I'll also have some really fun guests to join in on the fun. The Morgan Stewart Show is out now. Listen and follow wherever you get your podcasts or watch full video on YouTube. Hi, my name is Lewis Howes and welcome to the Daily Motivation Show.

0:34being in a relationship is so much more expensive for a woman than a man because more often than not if you're the one having the child yeah can't work for a while you can't work for a while and that's not just the amount of time off or whatever that you lose out on that income it's that what that income could have compounded over the course of your lifetime. And there are things like, oh, well, you know, if I spend a decade of my life being the household CEO, I prefer that versus like a stay at home because you really are the CEO of the house. You are the chef, the chauffeur, you are the maid, you are the person who is the project manager, you are teacher, teacher, you're doing it all.

1:16Yeah, you really are doing it all. But if you're doing all that unpaid labor, which by the way, the unpaid labor accounted for at a global society is in the trillions. We just don't really factor it in because most of the time it's done by women and we don't value their time the same as we do men's. And so I would say having a prenup where you have already agreed that you will get a mom's salary so that you can have your own money. So even if you are a stay at home parent, you still have your own money because 99 % of domestic violence cases include financial abuse. interesting it's important you have you have your own money that is in your bank account nobody else's name is on it maybe you want to ensure that you will have spousal support because you are giving up your career to perhaps move across the country to help support this person in their business you want to make sure that your children are taken care of you want to make sure that regardless of what happens neither party should be left you know uh destitute and neither party should be left a robber baron, right?

2:20Like you are trying to come to an agreement that's fair. Yes. And that's really all it is. It's you want to be fair to your partner. Do you like your partner? Because if you like your partner, you're not trying to screw them over. And that's why we have this conversation and we do this process when you still like each other. I think it's so important. Me and my wife, Martha, went through that. And I think I fell in love with her way more once we went through the whole process. One, you know, we were very open about everything. but it forces you to fully share every bank that you have, anywhere you have money or any assets.

2:58And there were a few things that we just forgot to share with each other. It's not like we were hiding from each other, but it's like, we really had to document everything. It gave me more financial clarity. I was like, oh, I'm actually organizing my stuff because I have stuff everywhere. It helped me. It helped her. And then we were able to look at things together. I was like, wow, you've actually made a lot of money. I was like, that's pretty good. You know, I was like, I was impressed. I was like, in particular for your wife who is a huge success has a, you know, huge business has multiple streams of income taking on the role of a household CEO, even just to like make herself uncomfortable for nine months.

3:36Let's be honest, like pregnancy, you're vomiting in the morning. You are twice the size that you normally are. Like she wasn't comfortable for nine months. Yeah. And I think that like, we have to acknowledge the value and the cost of that. 100%. Because that is a huge contribution to your family. 100%. My legacy, my love. Everything. Everything. And it's not just nine months and then you're back to normal. No. It's going to take months for her to recover and heal and all these different things. I mean, what she... People forget. Childbirth is also like a surgical procedure. It was scary. Yeah.

4:10It was scary. Did you pass out? No, I was pretty good. I was in the zone. I was like athlete mode. Okay, I'm going to ask her and see if you can get her opinion the next time I see her. It might be different. I think she'll say I was good. I mean, it's crazy. I haven't talked about it yet. But she went to the ER twice within the last month after giving birth. Yeah. And it was scary. I mean, it was like life or death scary. And she's now in a much better place and really recovering. But she still needs months of recovery. Of course. Where she's not able to go do normal working things. But it's a lot of women to be a mom.

4:47Yeah. And I think it's like a two-year journey. I'm not saying you can't work leading into pregnancy and being pregnant. You can still work. But it takes a lot more toll on your body, on your emotions, on your mindset. And I think we just have to be more aware of that with women. It's a lot. Yeah. Physically, emotionally, it is a lot. It's a lot on the guys, too. I mean. It is. I've been in the hospital for the whole month trying to support her. It's like I'm away from work, too. but it's like it's even more so on her. So the thing that I'm interested in is generational wealth that we're talking about.

5:16When someone who is broke hears this word generational wealth, it seems so far away. It seems so unrealistic. It seems like that's not for me. How could I even think that way? If someone's broke or struggling financially and they have the possibility in the future to create generational wealth, what do they need to start changing around in their mindset and their daily habits in order to set themselves up for that in the future. Yeah. I think there can be a big woe is me attitude of if you're not born into generational wealth, you're like so resentful. But the thing that bothers me is that like people want, everybody wants to have generational wealth, but we hate seeing it in use.

5:59Why is that? We're jealous of people? We're jealous. It's jealousy. It's just, it's just ending. We want it, but we hate people that have it. Exactly. But we want it ourselves.

6:12I have a brand new book called Make Money Easy. And if you're looking to create more financial freedom in your life, you want abundance in your life, and you want to stop making money hard in your life, but you want to make it easier, you want to make it flow, you want to feel abundant, then make sure to go to makemoneyeasybook.com right now and get yourself a copy. I really think this is going to help you transform your relationship with money this moment moving forward. We have some big guests and content coming up. Make sure you're following and stay tuned to this episode of The Daily Motivation Show.

6:53Thank you so much for listening to today's episode of The Daily Motivation, and I hope you have an amazing rest of your day. If you enjoyed this episode, make sure to click the link in the description. That will take you to the full episode of our main podcast on the School of Greatness. And if you are loving the daily motivation, please follow us over on Apple Podcasts and Spotify and leave us a review over on Apple Podcasts right now. And if you want more exclusive content and ad-free listening experience, make sure to subscribe to our Greatness Plus channel on Apple Podcasts right now. And if you want to get even more inspiration from our world-class guests and learn how to improve your life and take it to the next level, then make sure to sign up for the Greatness newsletter and get it delivered right to your inbox over at greatness.com slash newsletter.

7:43Again, have an amazing day, and I'll see you tomorrow with another episode of the Daily Motivation Show.

7:55Hey everyone, it's me, Morgan Stewart, and I have a new podcast called The Morgan Stewart Show. Join me each week as I talk about pop culture, fashion, my personal life, and just a warning, I'm going to be giving my opinion on everything. I'll also have some really fun guests to join in on the fun. The Morgan Stewart Show is out now. Listen and follow wherever you get your podcasts or watch full video on YouTube.