Money Rehab with Nicole Lapin - Lauren and Cameron Hamilton (Love Is Blind) on Whether Working With Your Bae Is a Terrible Idea

Episode Date: August 14, 2023

Love Is Blind stars Lauren and Cameron Hamilton tell Nicole about their unlikely love story, what life was like when the cameras stopped rolling, and how to be successful business partners with your romantic partner. Want to start investing, but don't know where to begin? Go to moneyassistant.com and meet Magnifi, your AI money assistant, designed to help you make a plan for your financial goals. Want one-on-one money coaching from Nicole? Book a meeting with her here: intro.co/moneynewsnetwork 

I love hosting on Airbnb. It's a great way to bring in some extra cash. But I totally get it that it might sound overwhelming to start, or even too complicated, if, say, you want to put your summer home in Maine on Airbnb, but you live full-time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a co-host network, which is a network of high quality local co-hosts with Airbnb experience that can take care of your home and your guests. Co-hosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you.

I always want to line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble so I don't end up making time to make my house look guest-friendly. I guess that's the best way to put it. But I'm matching with a co-host so I can still make that extra cash while also making it easy on myself.

Find a co-host at Airbnb.com slash host. Hey guys, are you ready for some money rehab? Wall Street has been completely upended by an unlikely player, GameStop. Are you ready for some money rehab? Wasting our time. I will take a check. Like an old school check. You recognize her from anchoring on CNN, CNBC, and Bloomberg. The only financial expert you don't need a dictionary to understand. Nicole Lappin. As you know, every Friday we talk with a public figure making change in every sense of the word. And along the way has been in or might still be in money rehab.

Today, I'm talking with Lauren Speed Hamilton and Cameron Hamilton. Lauren and Cameron were the breakout stars of Love is Blind, the show that got many, many people through the first months of quarantine. Lauren and Cameron were one of the couples that got married at the end of the season. And I think it's fair to say they were everyone's favorite. At least that's what I've been told. Please don't kill me. I actually didn't watch the say they were everyone's favorite. At least that's what I've been told. Please don't kill me. I actually didn't watch the show. But what's been happening since the camera stopped rolling?

These people, practically strangers, got engaged at first sight, are married really soon thereafter, complete with a wedding in front of a casual Netflix crew, and then are left on their own devices to figure out day-to-day stuff and build a life together. And as many of you money rehabbers will know, the day-to-day stuff has a lot to do with money. Do you buy the house of your dreams? What's your budget? Do you have any debt that's going to affect financial health? How many kids can we afford to send to school? What about fur babies? They're expensive too. Plus, as we know from Kendall Long's episode, once you're coupled up on television, your relationship becomes a brand, a business. How does working together affect being together?

I'm curious about how any newlyweds have these conversations, but newlyweds that practically just met, I had to know more. So Lauren and Cameron, welcome to Money Rehab. We are going to start out with a quick icebreaker. I'm going to ask you guys a question about your money habits as a couple, and then you can pick whether you think the answer is you or your partner. So who paid on the first date? Cameron. As he should. Who is more thrifty? Lauren. Who is more likely to splurge? Lauren. Lauren. Who is in charge of the budget? Both. Yeah, that's pretty 50-50. Are we allowed to say both? Lauren, Cameron. I love it. Who has a better credit score? Cameron.

Cameron. Whose love language is giving gifts? Cameron. Who is into crypto? Cameron. I do have some. Who has more credit cards open? Ty.

Who is more likely to say yes to a side hustle? Lauren. I'll give it to you. Who is more likely to apply for a cash prize? Oh, Cameron. Giveaway. Sure. Yeah.

Yeah. All right. Well, I'm really excited to get into your money habits more as a couple and your first book. But first, I want to get to know you guys a little bit better. Can you tell me a little bit about your lives before the show? Like, where were you living? Where were you working? Absolutely. So before the show, I was living on my own. I actually had a one bedroom apartment, very small, which they showed it on the show. It was pretty teeny tiny. Prior to going on the show, I actually had my own business, which I still have today. I do a lot of media work, production, videography stuff. So that's

where I was. I was a struggling artist. Needless to say, the money isn't always constantly flowing in that type of occupation. So I was definitely an artist on a budget prior to going on Love is Blind. For me, I was working for a company developing AI software for the financial industry, actually, for banks. I was detecting money laundering and fraud. So I had a team of 10 data scientists that I was leading building this type of software. And I have to admit, I have not seen the show. Everybody on my team thinks I am a super nerd and have been living under a rock for the last two years. Can y'all help me understand the concept of the show? Because what I know is crazy. You don't see each other and then y'all get married? Basically, I mean, in a nutshell, that's it. Love is Blind is basically a dating show. 15 guys, 15 girls, and we meet each other through a wall and we date. And if things go well, then we get engaged and possibly married.

But you date through a wall? blind. So basically you're making connections with people, you know, that's not based on what they look like in their physical appearance, but more so through conversation and, you know, the things that you have in common with each other and, and things like that. It also seems kind of COVID friendly. It is. Right. And this was filmed back in 2018, way before all that stuff. So yeah, kind of kind of foreshadowed it. Yeah. The timing of it coming out in 2020.

You know, spring last year was actually right as COVID was hitting. So a lot of people could really relate watching live because, you know, we were all in quarantine at that time. So have you guys talked much about money while you were dating on the show? Oh, really? Through the wall? Through the wall. Yeah. I mean, that's the thing is I know the premise of it sounds kind of crazy. And frankly, I think we both thought that before going on to it. But I think one of the things that really helped us build that strong connection was we had these sorts of conversations in the pods from a very early point. We were talking we're talking about finances, you know, we talked about, for example, how are we going to balance our household expenses when, you know, at the time

there was a disparity in income. And I mean, nowadays it's where it's, it's a different situation, but we talked about that from really like the third date in the pods yeah how to split bills and all that you know income coming in credit card debt because we're talking about getting married to each other so we kind of had to tackle all those type of conversations like early on oh you were after my own money rehab heart on this one Did they cut that out of the show? I would have loved to see them. They did. Fuckers. I know. That's like the stuff that people need to see, you know, those types of conversations between, you know, people who are dating or, you know, looking to get married because those are important conversations that you need to

discuss with your partner. Like money is important to talk about. Okay. So tell me what was cut out. Was there full transparency from the third date when it came up? Absolutely. Yeah. I mean, I think when Lauren and I realized that, you know, this is serious, I mean, of course at first it feels a little awkward being on this show and this strange dating experiment, but when we connected, I think we both realized that we really needed to get serious with these sorts of conversations. And so, yeah, we, we, we delved into transparency and talking about, you know, having student loans or just where we were in our careers and that sort of thing. And how would we balance bills in the household? And, you know, even things like, you know, if one,

how would we maybe compensate with other responsibilities around the house? If we're unable to split the bills 50-50, like maybe one picks up more of the, you know, things that are happening in the house is, you know, cooking and cleaning and keeping the house in order, stuff like that. So we definitely like had to form a partnership very quickly, especially when it came to issues with money and taking care of the house. I heard one guy on the show found out that their partner's debt was out of control after he proposed. Did you guys have any financial issues that you needed to work through

when you met each other? Thankfully not. No, we didn't have any big financial issues. I mean, I had some student loans, but I was paying them back pretty regularly. Thankfully, paid them all off now. Same with me. I mean, I had some student loan debt, which is not a problem. I also had some credit card debt too, but that's also not a problem. So we were completely honest going into the marriage and into our relationship about our financial status because from that point on, we will be joined. Our life was kind of joining together. So it was important for us to be real and honest about our financial status with each other. I love that so much. I've long said that there should be a filter on dating apps for debt. I mean, the other stuff is way more arbitrary. Like if he's 5'9 or 5'10 does not matter as much as if he has a boatload of debt or not. That's not true. Did you guys

do this because you were burnt by finances in other relationships or you just had done the work on yourself to know that that was an important compatibility point? For me, I think my past dating, you know, relationships and in relationship to money, I haven't really had any issues when it comes to that, but I did kind of just go through a whole, I guess, evolution as a woman in general, you know, after I hit my 30s, I got more financially responsible because your priorities definitely change, you know, after I hit my 30s, I got more financially responsible because your priorities definitely change, you know, when you're not out, you know, in college, partying and whatnot. So I would say I definitely have reached a point in my life by the time that we went on Lib where I was pretty much aware, very aware of my finances and how they were coming and leaving. So definitely.

Your boss bitch. Yeah. I mean, I think when you're older, you have to have these grown up conversations. Yeah, absolutely. Absolutely. It's necessary for the relationship to be healthy and, you know, evolve. Yeah. You can't sweep it under the rug and then expect it to not be an issue later on, obviously. Right. Because it'll come up in the worst times i'm sure it's

the number one cause of divorce it's the number one cause of fights i'm so proud of you i just want to give you a big hug that you did this so early on uh i think all couples should do it i don't want to say necessarily you should go on a first date and be like so do you have any credit card debt like yeah like what's your credit score yep Yeah. Yeah. That's not the best pickup line, but I think that there's ways to ask questions around it. You know, like, Hey, so what do you like to do with your free time? Cause that will let you know how they like to spend their money nine times out of 10 and what they like to do with their free time. So, yeah, I think there's a little bit of finesse and art to it. You know,

I mean, oftentimes, it's not exactly what you ask, but how you ask it. So you kind of, there's ways that you can kind of ease into that conversation a little bit, but you shouldn't, you shouldn't shy away from it. Yeah, I think you're absolutely right. I think that framing it around goals and dreams is a really easy way to get into it because goals and dreams have price tags, right? And you don't have to be exactly the same, but your values should be compatible, especially when you're going to smush your finances together. Hold on to your wallets, boys and girls. Money Rehab will be right back. I love hosting on Airbnb. It's a great way to bring in some extra cash,

but I totally get it that it might sound overwhelming to start or even too complicated if, say, you want to put your summer home in Maine on Airbnb, but you live full time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a co-host network, which is a network of high quality local co-hosts with Airbnb experience that can take care of your home and your guests. Co-hosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always want to line up a reservation for my house when I'm traveling

for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble, so I don't end up making time to make my house look guest-friendly. I guess that's the best way to put it. But I'm matching with a co-host, so I can still make that extra cash while also making it easy on myself. Find a co-host at airbnb.com slash host. Now for some more money rehab. So how did you guys handle finances after marriage? And did you share everything or do you have separate accounts? I mean, we have separate accounts and we also have shared accounts for expenses. And I mean mean at the start of our marriage um you know I took on more of the bills and things like that Lauren took on more of the household responsibilities but

I mean but her career has really picked up in a huge way and obviously very proud of her for that and and so now it's very much split. We have like, for example, a studio together that we pay for, you know, a lot of the, so many expenses with, you know, hiring videographers and all this sort of thing. So. Yeah, we like run businesses together now. So having a joint account has been really helpful because all of the things that we do together, whether it's business or like Cam mentioned, paying the household bills comes out of that joint account. We both contribute to that. But at the same time, I feel like it's so important to have your own money and your own account because maybe I want to buy a designer bag and I don't want to take that from our joint

account because Cameron may feel some type of way, or maybe he wants to buy something that I would probably be like, I wouldn't spend my money on that. So I think that having those joint accounts, but also kind of having your separate money for yourself and however you want to purposely spend it is great, too. So I agree. I think a yours, mine and ours account is really important. And then oftentimes when couples have a disparity in income, sometimes I suggest to put a weighted amount of money from your salary into the joint account. So it feels the same to both people because, you know, $100 to somebody making a million dollars is not going to feel like a lot. But $100 to somebody making $25,000 not going to feel like a lot, but $100 to somebody making $25,000 is going to feel like a lot. You mentioned that you're now working together. So I wanted to ask you about that. How is working together and sleeping together? You know, it's it was challenging. And it's obviously with its challenges, because I think both Lauren and I we both really like to manage things and

and you know have our say of whatever it is so when you have two personalities like that we can sometimes bump head whether it's creatively or or whatever but I mean I think I feel at least I feel that over time we've become a lot better at it and And it's, I mean, I'm really happy with where we've come with it. Yeah, I think we definitely had to find our rhythm, you know, especially being, you know, a somewhat newly married couple. I mean, we're about to enter into our third year of marriage. So we're still kind of new. We're not newlyweds. But, you know, we're getting into our rhythm now.

But I think that we really had to adjust to each other's personalities. Like Cam said, how we would like to spend money in the business. Cause maybe one person feels like it's good to invest more here and the other person might not agree. And you know, it's like, we're not only husband and wife, we're business partners. So we also have to kind of have those tough conversations and not keep it separate from home. So if we disagree on something, we're not going home and giving each other the silent treatment, you know, so stuff like that. We have to kind of find the balance between working and home. Which is tough. And that's part of why we have the studio is to try to create a homework separation. And to give you kind of an example, it might be something like, let's say

we want to hire a videographer for some piece of content that we want to make versus filming it ourselves, you know, and of course it's cost to do that and to hire an editor and all this sort of thing. So, you know, we might have a conversation, do we need a videographer for this? Do we not? you know, we might have a conversation. Do we need a videographer for this? Do we not? So, you know, those are the type of conversations that we often have. And, you know, I mean, like we said, I feel like we've come a really long way around that. Definitely. Yeah. It seems like you guys balance each other out in a really nice way. You did a lot of content together. You had your channel hanging with the Hamiltons, and now you are writing together and launching a book together called

Leap of Faith. Tell me about it. So Leap of Faith is really about, you know, the different times and moments in our life where we had to take leaps of faith that really changed our life for the better. And we're just sharing all of the gems that we've learned on our journey and hope to help others and inspire them and motivate them with our story. Yeah, I think that's well said. And I would add to that, that, you know, we wanted it to not just be a book about ourselves and our life and love story, but also kind of like pragmatic tips that we've learned things that really helped us to feel comfortable taking leaps of faith, you know, whether that's starting your own business or pursuing reality TV or whatever it might be.

Taking those leaps of faith when you've done your own sort of calculations, let's say, and you have your own intuition. I think that's often what you do need to do. What advice would you guys give couples who want to work together? It's going to be tough inevitably at some point or another. I think one thing is you have to be kind of persistent in the sense of, you know, if there's resistance between you two, you have to have faith that you can work it out, you know, and not just give up and be like, oh, this is impossible for us to work together. You know, you have to kind of, even if it's incremental, figure out what adjustments you can make to make it a better working relationship.

Yeah. And I think that you all just have to be on the same page. That's the most important thing. I mean, communication is everything in a romantic relationship and especially in a business relationship. You know, as long as you guys go into it with the same goal in mind, you guys know what you want to accomplish. The main thing after that is, you know, plotting out how you plan on getting there. And as long as you guys agree on that, of course, there's going to be some hurdles along the way. But, you know, as long as your goal is more important than the hurdles, then you'll be all right. And also, with regard to communication, I feel like one thing that is problematic is when people are like, you know, you never do this, or you always do that, that thinking in absolute never, they're putting blame on the other person in a business

relationship, obviously, that's no good either yeah so instead of that I feel like it's helpful to kind of reframe it like hey you know this is what I'm trying to accomplish I'm hoping that for example we can launch a new video next week like this is my idea of how I think we can get it done. What do you think? You know, so instead of being like, you know, you're never doing the video, whatever it is, you know? Yeah. So you say things. Yeah. Yeah. Kind of being more methodical with like how you have a conversation. It's important. So of course, money can put a lot of stress on couples in every stage of a relationship. Of course, as you progress in a relationship, those money talks get harder with wills and advanced directives and all sorts of grown up, big girl, big boy stuff.

What are some healthy habits that you could tell couples around money and how to talk to each other about money? Yeah, I think that budgeting is a great way to start. I mean, just kind of agreeing on what you guys have and what's allotted for this. Have a fun fun. If you guys like to go out to dinner, if you like to go to amusement parks or whatever it is, budget that out so that you guys aren't strapped

when it's time to do something and you've been overworked and you're like, oh my God, we don't have money to have fun. That's the worst thing ever. So I think that budgeting is great. It's a good way to, and I feel like when people hear budget, they feel like, oh my God, I'm restricting. I feel like I'm choking myself, but it really doesn't have to be that way. Everything is strategy. And if you fight it out ahead of time, then you actually get a sense of freedom from it because you know that you have money saved, you have money to spend and it's just, it's freeing. It really is. Yeah. I mean, that's, that's really well said. Yeah. Can you work with me, Lauren? You basically have summarized rich bitch, my first book in a few sentences better than I could have. So I'm going

to recruit you please. And thank you. That was awesome. Let's do it. Here's today's tip you can take straight to the bank. If your business partner is also your romantic partner, you're going to need to make sure your communication is crystal clear. Lauren and Cameron say that you shouldn't only communicate with your partner about your goals, but how you're going to get there. You may both agree that you want to write a book together like they did, and that's it. But do you agree on who's writing what? To go on a book tour? How to make deadlines? It's like going on vacation. You can't just stop the conversation once you've decided to go to Hawaii. Or else you might be on a Maui-bound trip on a plane on Tuesday, and your partner may be Oahu-bound on a cruise ship on Thursday, and you're both wondering where the hell Bay is. So be like Lauren

and Cameron and talk through the process of achieving your goals so you can get there and get there together. Money Rehab is a production of iHeartMedia. I'm your host, Nicole Lappin. Our producers are Morgan Lavoie and Catherine Law. Money Rehab is edited and engineered by Brandon Dickert with help from Josh Fisher. Executive producers are Mangesh Hatikader and Will Pearson. Huge thanks to the OG Money Rehab supervising producer, Michelle Lanz, for her pre-production and development work. Michelle Lanz for her pre-production and development work. And as always, thanks to you for finally investing in yourself so that you can get it together and get it all.