Couples. Two people who merge their lives into one. That also includes merging your money. It’s very rare that two people will get married and earn the exact same income and have the exact same spending and savings habits. So with that being said let me ask you a question, do you budget better than your husband?
The truth is people are different and one of you probably saves more than the other and one of you probably spends less than the other. That’s just the way relationships go. One of the great things about being in a couple is that your better half can balance out your shortcomings and help you learn to budget better or better manage your money.
Who budgets better in your household?
The way people spend money depends on two things: habits and goals. If you didn’t learn amount money as a kid you may not have grown up to be a budget savvy adult. That’s O.K. There are several ways someone can learn to budget such as talking to a financial advisor, tracking their spending and using a budget software such as Mint.com or YouNeedABudget.com.
It’s easy to stop spending when you have a reason to save. When I was broke and living beyond my means I didn’t stop spending until I had a reason not to. I knew I wanted to start travelling and probably someday buy a house so I stopped spending money on Starbucks, clothes and eating out. I started saving towards things that I really wanted and that truly made me happy.
Helping your spouse budget better will help your overall relationship. When the financial responsibility falls on one spouse it can cause resentment within the relationship. It’s no secret that when a couple does things together, equally, they are a better, stronger couple for it.
Talk about your expenses and discuss who is going to pay what bills. If one person earns more they may contribute a larger portion to the monthly bills, but it doesn’t mean everything has to fall on their shoulders.
Fun money for yourself
What do you really want to do with your money? Actually let me ask you another question, if you were single what would you be doing with your money? Would you travel? Would you relocate? Would you go back to school? Think about that for a moment and whatever it is that you truly want to do set a little bit of your budget side for fun money.
So often people lose themselves in a couple and it’s so important for your relationship and personal well-being to think about yourself every now and then.
If you think your spouse spends too much ask them to review their bank account and credit card statements over the last month. Maybe they don’t know they’re spending so much or maybe they don’t know how to stop spending money.
Tracking your spending is a great way to learn where you’re spending money and to spot where you can make cuts. From there you can allocate your savings to something else – maybe towards something you can enjoy as a couple.
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