Ask any couple what they fight about most often and chances
are the answer is money. Because we all have differing values about money, it
is hard to get on the same page. Many of us have been taught that discussing
money is somehow inappropriate, which doesn’t encourage financial communication.
Some feel budgeting will cause too many restrictions and limitations, taking
away pleasures they have become accustom to (I fall into that category). The
reality is that a budget promotes more freedom through focus on priorities your
family has agreed are most important. Our favorite budget item is travel, so we
make it a priority when planning each year.
Suggestions for creating a family budget:
- Discuss creating a budget with your partner and set clear priorities for your family.
- Put it on paper - Google “monthly budget planner” for free templates.
- TIP: Suze Orman offers a helpful monthly expense calculator.
- Track expenses on a monthly basis – check in each week to stay on track.
- Remember to include the following: housing, transportation, household/utilities, food, education, medical/health, clothes, personal/leisure, debt, giving and savings.
- Give your budget time to work – we continue working bugs out of our system even though we have been budgeting religiously for five years.
On a personal note, the most difficult part for us has been
coming to an agreement about budget priorities. For example, I enjoy spending
on entertainment (gals nights out are the best) and my hubby would prefer a
glass of wine at home versus spending money on it while dining out. Balancing
our needs as individuals who are in a committed relationship is a work in
progress. We are far from perfect, but I believe we are on the right track.
What steps are you taking to keep the financial side of your
relationship healthy?
Peace to you and yours - Jackie
