#29 Managing Money as Emotional Beings ft. Dan and Mikayla Ockey
The founders of Centsei Financial Mikayla and Dan Ockey come onto the show to give tips on finding cohesion in finances as a couple. Before diving in, they relate the extraordinary tale of their meeting and courtship (1:45).
The two share their financial journey. While Mikayla grew up as a moderate spender and consistent saver (15:15), Dan spent extravagantly in college, amassing considerable debt in an astoundingly short period of time (16:50). Once married, they realized they needed to figure out a mutually agreeable plan (21:30). The process of figuring this out inspired Dan and Mikayla to create their current business, a third party to help collaborate different financial values and goals between couples. Unlike most of the financial world, they account for the emotion behind money, especially in regards to marriage (27:00). Once the newlyweds set up a plan, Dan and Mikayla were debt-free within six months. (32:30). They list everything they did to achieve that, and explain the perspective that made it possible (34:15).
Next, Mikayla and Dan describe who Centsei Financial is for and how it started (46:10). The program on budgeting comes in the form of short videos divided into ten modules, so not a big time commitment (54:10). They also offer a course on investing.
Grace asks more about how to budget successfully, and the CAP method is explained (57:30). The tracking app Mint is highly recommended as part of that. Dan also reveals how budgeting is not about managing your money (65:10). They emphasize keeping perspective; no phase of financial planning or marriage lasts forever. Time will pass, and you will be more than okay.
Check out Dan and Mikayla’s courses at centseifinancial.com and @centseifinancial on Instagram. If you enjoyed this episode, it would be deeply appreciated if you helped others find the podcast, by doing something as quick and easy as texting it to a friend or rating the show on iTunes. Connect with the podcast on Instagram @thenewlywedshow or personally with Grace @gracewjensen.
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