Home Celebrity Money Lessons Actress Naturi Naughton of Starz ‘Power’ Talks Love and Money With...

[Wealth Wednesdays] Actress Naturi Naughton of Starz ‘Power’ Talks Love and Money With Angela Yee & Stacey Tisdale

How Money Can Help Couples Build Stronger Relationships

More than 40% of couples in the United States commit financial infidelity – lying to their partners about money by doing things like hiding existing debt, excessive spending, or the amount of money they actually have.

Recently engaged, Naturi Naughton, who plays the sassy Tasha St. Patrick in Starz drama Power, recently shared with teamwealthwednesdays.com that she and her fiancé, whose name she has yet to reveal, we’re having none of that.

“We talk about everything, that’s one of the reasons I’m excited to marry him,” the beaming bride to be told Tisdale and Yee.

“He brought financial awareness into my life,” she adds.

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Financial Fidelity From The Start

Naughton says she and her fiancé talked about money from the very beginning – something she says all couples should do.

“I would tell you ladies and men to say early on ‘How is your credit score? What is your financial situation.’ You need to ask these questions up front,” says Naughton.

The Power star says she and her future husband, who were introduced by her series  co-star, Omari Hardwick, were not only transparent in the early days of their relationship, but they continue to teach each other a lot when it comes to financial wellness.

“I remember when we first started dating, he was very transparent,” says Naughton.

“He comes from a family that has taught him a lot about entrepreneurship, and he taught me a lot about the importance of building your own brand, doing your own thing, and being managerial,” she adds.

Lifting Each Other Up

Naughton says one of the most important things she’s learned from her fiancé is that there’s more to financial health than earning money.

“it’s funny because even though I’m in the business, I was just a workaholic. You know, we think ‘if I work and I make money and I get a check, I’m good.’ But I never really went deep into those other layers of financial wellness,” says Naughton.

“There’s no one way to get money and to be successful. I think that’s important for all of us to know. We have that conversation all the time,” she adds.

What Financial Secrecy Does To Relationships

Money is a leading cause of breakups and divorce, and like most relationship problems, the culprits are usually rooted in a lack of communication and trust.

Financial infidelity is a big deal. If someone is hiding money or debt from their partner, it makes it almost impossible to make an accurate budget. In addition, if you’re keeping a financial secret, it’s only natural for your partner to wonder what other secrets you might be hiding. That’s how relationships end up in big trouble.

Despite how common it is, over a quarter of adults (27%) agree that financial infidelity is worse than physical infidelity, according to a study commissioned by creditcards.com.

The study also found that while more than a third of those who commit financial infidelity say they do it ‘for privacy and a desire to control their finances,’ almost as many say they keep money secrets because they are ‘embarrassed’ about the way they handle money.

[Blog: Click here for 5 quick tips that will help you get out of student loan debt!]

Conversation Starters

No one can deny that talking about money, particularly with someone whose opinion matters deeply to you, can feel difficult, if not impossible.

Here are some tips that will help you get these challenging conversations started:

  • Communicate: Ask your prospective partner if they think it’s important for couples to be on the same page about money, and why.
  • Share: Be open about your financial challenges and how they’ve impacted you financially, psychologically, and emotionally. Ask them to do the same.
  • Lose the notion of right and wrong: There are no right and wrong beliefs about money, just different ones, and they all come from our individual experiences. To tell someone they’re wrong is telling them that your experiences are more valuable than theirs.

There’s a lot more to money than dollars and cents. Our sense of self, values, and belief systems all play a role in our financial behavior. While the ‘money talk’ is not easy, open communication in spite of those hard feelings will strengthen your relationship and make your bond with your partner even stronger.

Stacey
Stacey
Stacey Tisdale, a more than 20-year veteran TV broadcast financial journalist, and financial behavior expert, is one of the first women, and the first African-American to report from the New York Stock Exchange, in her role as a reporter/anchor for Dow Jones' Emmy Award winning, Wall Street Journal Television. She then went on to become one of the first on-air reporters for CBS MarketWatch and business/personal finance correspondent for CBS News, The Early Show, CBS Evening News, and CBS Radio. From 2002 to 2004, Stacey filed business and consumer reports for all of the CNN networks, including, CNN, CNNI and HLN. Stacey also reported for “Inside Africa,” a weekly news magazine show on CNN International, where one of her reports, identifying a rape camp in the hills of Liberia, brought attention, funding, international support, and helped bring eventual freedom, to women and girls imprisoned in the camp. Stacey - named by Top 100 Magazine as one of 2019's Top 100 People in Finance - was Business Correspondent for Al Jazeera America from 2013 to 2014. Before joining Al Jazeera, she reported for PBS national news magazine show Need to Know, and PBS Newshour Weekend, as well as hosting her own live daily show, Tech Live, on Microsoft co-founder Paul Allen’s Tech TV cable news network. Ms. Tisdale, former senior editor of personal finance for Black Enterprise, was also a financial expert on The Oprah Winfrey Show, and is an expert for O magazine. After a 6-year research project into what drives financial behavior, Stacey authored the critically-acclaimed book, The True Cost of Happiness:The Real Story Behind Managing Your Money (John Wiley & Sons), and became one of the pioneering journalists in behavioral finance and financial psychology. Soon after, she became a financial expert on NBC's Today Show. The research, which focused on financial behavior, also inspired her Winning Play$ financial education program, winner of the U.S. Department of Education’s Excellence in Economic Education award, and the National Association of Black Journalists Community Service award. Stacey’s broadcasting career came after her work on Wall Street as a cash manager for the commodities firm Balfour Maclaine International, investing as much as $90 million per day in global financial markets on behalf of the firm. In addition, she has created a personal finance curriculum for college students on behalf of the White House, and conducted research for the United States Congress on the financial behavior of professional athletes. Stacey creates financial education and life skills programs for professional sports teams and corporations including the WNBA”s Washington Mystics, the NFL Super Bowl champion, New York Giants, and the female employees of Microsoft. In 2019, Stacey joined the prestigious ranks of The HistoryMakers, - the United State’s largest African American oral history collection. Her story, as well as a documentary about her life, will be forever housed in the Library of Congress in Washington D.C. She is a graduate of Marymount College, winner of the 2018 Marymount College Alumna Achievement award, and a member of the Butler Society. She also attended Polytechnic of Central London in England. Stacey is on the advisory committee for The Gloria Steinem Endowed Chair for Media, Culture, and Feminist Studies at Rutgers University, and she sits on the communications committee for the gender parity movement, Paradigm for Parity. Stacey is the co-chair of Take the Lead, aimed at preparing women for leadership positions. As founder and CEO of multi-media content provider, Mind Money Media Inc., international speaker, contributor and expert for some of the leading media outlets in the world – including Time Magazine, Good Morning America, the Breakfast Club, and AJ Impact - Stacey uses her personal finance and media platforms to educate her audiences about all aspects of our complex relationship with money, as well as the ways in which socioeconomics, gender, race, age, orientation, and culture, play out in our financial experiences and careers. She also co-hosts the monthly social media personal finance event, Wealth Wednesdays, with IHeartMedia, Power 105.1 Breakfast Club host, Angela Yee. Stacey is the daughter of renowned educator Jettie Tisdale, whom there is a school named after in Bridgeport, Connecticut, and Charles Tisdale, executive director of ABCD, the largest anti-poverty agency in the state of CT, former economic policy advisor for U.S. President Jimmy Carter, and former field director of World Vision, which brings humanitarian aid to refugees worldwide.

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