[WINii] The Economics of Love

Hi WINers!

Another Valentine's Day has come and gone. Did you celebrate love? Celebrate Galentine’s Day? Or bemoan another fabricated commercial holiday? 🧠

Here, we'll take a look at the economics of dating, the importance of holding money dates with your partner, and the question about prenups.  

Let's get into it! ⏬

👸🏻 Can Women Have It All? 

Jesse Van Arman is the Head of Marketing at Meta. On an episode of WINii’s MoneyBites, she shares why she switches companies or roles every few years. Hint: this strategy increased her net compensation multifold.

She also shares her thoughts on why women can have it all, just not all at once. We also talk about keeping separate bank accounts as a couple and different investment strategies within a partnership.

Check out the episode here! ⏬

🎧 Listen on Spotify

ASK WINii! 

I’ve been getting some interesting DMs about personal finance that may be helpful to share with the broader WINii community - so we're carving out a space in our newsletter! 😁

Do you have questions about your budget? 401ks? Money dilemmas? Feel free to ask here 👇

PS - We may reach out for additional information to best answer your question. Otherwise, if selected, we'll share your question anonymously with response . 

🌹 Are you single? - Dating Economics

As a single woman in New York, who religiously checks all four dating apps on my phone daily as consolation that I’ve at least made the minimum effort in finding love, it feels sometimes that there are no good men left. 

If I am to change my luck in dating though, perhaps I need to think like an economist? Or double down believing in the magic of love - like in this episode of This American Life? I always thought I’d meet my soulmate at an airport 🪄

Well, if any of you know a gem of a Korean American man, I’m in the market. I’ll trade you financial coaching for an intro.

💸 Do you have a partner? Schedule your Money Dates

Money might not be the most romantic topic of conversation, but it's one that matters. 

Both financial advisors and relationship counselors agree that pairs who discuss money on a regular basis better manage their spending, saving, and investing. 💰

If you are not aligned on financial values and goals, it could mean trouble for your relationship. According to a recent Forbes study, 38% of divorcing couples report financial problems as the main reason for the split.

Fights over money place a huge burden on a partnership. Money dates come down to ensuring you have a healthy relationship to have candid conversations, and aligning on having the same money values and financial goals. This in turn represents if you and your partner are looking towards the same future direction. Keeping money matters out in the open and making money chats fun can nip financial troubles in the bud before they become bigger issues.

💔 Prenup - would you sign one?

We wish for happily ever after, but there are plenty of reasons why a marriage might go south.

Let's take a look at some interesting divorce stats:

• Divorce rates are higher among couples below the poverty line.

• Couples who live together before marriage are more likely to divorce.

• In heterosexual couples, 69% of divorces are initiated by women.

• Third marriages have the highest divorce rate (73%).

• The most expensive divorce ever was Bill and Melinda Gates ($76B).

Did you know that 15% of married couples report signing a prenup? They're becoming more common and aren't just for the rich and famous. 

A prenup can help address fundamentals, like details on joint bank accounts, whether you'll pay off certain debts separately or together, and of course, who gets what in a divorce. 

Speaking of prenups, marrying for money might be a smarter decision than you think. In this CNBC article, an economist shares all the reasons why.  

But what actions would you take if your partner cheated on you after marriage? Well, it turns out a lawsuit may be one of your options. Check out this NPR story of how one man used the "heart balm tort" to his advantage. 💔

Here’s to (self) love!

Minki
Founder, WINii

📢 PS - Refer a Friend!

Are there others female friends/colleagues in your social circle you’d like to include in our money chat? Consider sharing this newsletter!

The more friends you refer, the more bonuses you’ll earn:

• 5 referrals - Private group Q&A session on student loans 

• 10 referrals - WINii branded Stanley bottle 30 oz 

• 15 referrals - 1:1 budget review session with founder

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