According to the statistics, money problems are the greatest marriage killer to date.
What struggles do you have within your marriage concerning money?
It is a curious fact that wealthy people most often have a written budget.
It is also curious that poor folks believe they do not need a budget because they do not have much money.
I hope you see the fallacy in that logic. The less money you have the more you need a monthly budget to work out as to where you will spend your money on worthwhile things and not on unneeded items.
I can just guess that if you argue over money with your wife, you do not have a specific written budget.
There a lot of excuse for not planning your spending but they are not worth the hot air used to argue about.
If you want to have peace in your marriage, one significant part of your plan needs to include a written budget where every dollar has a name before the month begins.
Here is what that means in a short illustration format: (There are only a few examples)
house payment …. $XXX amount
Utilities ……………. $XXX amount
Car payment …….. $XXX amount
Credit card #1 …… $XXX amount
School loans …….. $XXX amount
food, gas allowance, car maintenance, car purchases, each of these and any other expenses you might have currently all have their own slot.
??? …………………. $XXX amount
??? …………………. $XXX amount
Savings ………….. $XXX amount for emergency fund
(some suggest to start with at least $1,000)
Total of all expenses = $0 You fill in the type of expenses and the amount.
Your total amount of income is what you have as “after taxes income” or bring home pay.
You should always have your expenses; savings and all, equal to a $0 balance so you give every dollar a name before the month begins.
If you need help working on a budget for your own household, let us help.
We have worked with a lot of couples and they actually have more money to spend then they thought they did after some tweaking on the budget.
I am not a CFP or a CPA but I can give you sound insight as to how to design and live within a workable budget.
It is simple to design a budget when you know all the variables: your household income, your specific expenses, and your floating expenses.
It becomes a basic math equation that two adults must then follow.
What is your plan to become debt free? It took us four years to get there.
Now we are able to help others with the interest money we used to pay to our creditors.
Do not let the number one problem which tears up the majority of marriages rip your relationship apart.
Get help if you need it but this month get on a written budget!
Here are two resources for how to get extra financial help beyond asking Elaine & me to coach you to becoming debt free.
ABC’s of Finance – Debbi King wrote this book to walk you through the entire process of handling your finances A – Z! www.abcsofpersonalfinance.com/
Dave Ramsey – Dave has been on the radio for many years helping folks become debt free and learn how to manage their money.
His site http://www.daveramsey.com/home/ can provide you with a lot of financial resources.
For this post about budgeting you can go to Dave’s site and then search: budgeting.
Always Expect The Best For Your Marriage –
as The Best Is Yet To Be!!!
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