Make Love, Not Debt
Let’s face it. We all know more about the ups and downs of our favorite celebs’ love lives than we would like to admit. They're together one minute, and the next, they're not. They are living proof that money cannot buy you happiness. Finding the happy medium in your married life when it comes to finances is something we all struggle with. At the end of the day, two are better than one at managing your family's finances. Here are a few tips to help you and your other half learn how to make sense of your dollars.
1) Make a plan, and write it down!
Gather all your bills, statements, receipts and any other financial documents you may have together, and decide on a monthly financial game plan. It's just like any other goal in life— you are more likely to stick with it if you make a plan, and write it down.
2) Talk it out
Communication is key in every part of your marriage, but it especially rings true when it comes to your money. Always keep your partner in the loop when it comes to when and where you are both spending your hard-earned cash.
I don't mean every impromptu trip to T.J. Maxx, but expenditures that affect your family need to be communicated between the two of you.
Instead of one partner taking the burden of balancing the finances, split the responsibility. If you balance the checkbook, let your spouse manage your investments. If you pay all the bills, ask your other half to organize all your receipts. A little bit will go a long way to help keep you from playing money tug-of-war!
4) Make a monthly meeting
In order to keep yourselves on track, commit to meeting once a month to review your spending, and hold yourselves accountable to the plan. Discuss future goals and current achievements, and make sure you are both still on the same playing field.
I can taste the margaritas! Grab a fun dinner and a few cocktails, and celebrate the new, more financially sound power couple that you now are.
Hard work deserves a reward, and successfully executing a new money game is no exception. Order dessert too...you earned it!
So get together, collaborate and make your hard-earned money last. You won't be surprised when you feel more at peace knowing your money is being spent and saved the way it should be to keep your family on track.