Day: January 6, 2016

Budget Bootcamp Day 5 Unless Two Agree: Getting On The Same Page As Your Significant Other

Unless Two Agree

The Bible tells us in Amos 3:3 (KJV) Can two walk together, except they be agreed? If you co-mingle finances with your spouse or significant other, it is of the utmost importance that you are both on the same page. Numerous studies have shown that managing money can be the most divisive issue between couples whether they are married or living together. One may be a spender while the other may be a saver. Opposing ideas regarding money can make finance one of the most explosive topics for couples to discuss.

You have to remember when you come together as a couple; you may have two different money perspectives. That was the case with my husband and I. He grew up very poor and I grew up with the proverbial silver spoon in my mouth. He was used to hand me downs and I was used to Parisians. (Did I just show my age?) Long of the short, he vowed that he would never wear hand me downs once he started working, and I wanted to afford my children the best of the best, like I had. Our spending habit’s were a recipe for disaster. We could not agree on anything when it came down to our finances.

To effectively manage money, couples need to be on the same page. They must understand each others ideas about finances. I know you must be wondering what this has to do with creating a budget. It has everything to do with creating a budget. If you and your partner co-mingle finances and are not on the same page financially, then there is no way you can create an effective budget.

Your assignment for today is to make sure that your spouse or significant other is on the same page and wants to create a budget. For all you single people, take note, so that, before you get married you and your future spouse can make sure that you are on the same page regarding your finances.