I know I now its one of those sticky subjects but its one of the biggest contention points in a marriage, so it need to be talked about.
I honestly don’t think there is a one size fits all solution here. Budgets work for some people and others it just makes things worse. Overall I think every family should have some sort of agreed upon plan. You need to talk about what your goals are for the future and for the present.
Maybe its as simple as, as long as we put $xxx.xx in savings each month and keep our checking balance above $xxx.xx then we are good. Some need a firm budget. Others use cash envelopes for the ‘extras’ each month. When the cash runs out so do the ‘extras.’
There are lots of ways you can deal with money just make sure you talk about it.
What works for your family?
Make sure to read the comments there are some great ones!
4 comments on “Thoughts on Thursday: Money”
I am not queen in the budget arena BUT I have learned that we always take x amount of dollars that is debited out of the check before we EVER see it. It has changed many things in our married life. It is a built in savings for homes, business etc. The trick, auto debit!
It amazes me how many people don’t check their statements from the bank, on-line or in paper – doesn’t matter. You need to check your balances with the bank and check your credit card statements. They do make mistakes and sometimes you pay for them. Not to mention the stress when you “accidentally” overdraw on your account…embarrassing!
I’m also amazed when couples don’t talk about this before they get married, but now is NOT too late!
My husband and I talk about EVERY penny we spend. If he wants something or if I do we discuss whether we need that or not. He does all the bill paying and making sure we have money in the savings, etc. I don’t know what I would do without him but I’m really not good at it!
Elan and I have such a hard time with this because he is so frugal (which is actually a great thing) and I am, well, NOT. It’s something we are constantly working on. We do balance each other out well but sometimes it takes a LONG conversation to get there. I think budgeting and compromising with one another goes a LONG WAY!