One of the most common reasons couples get divorce today is money. Figuring out who is the saver and spender, debt, bills, etc. Stress and Money go hand in hand, this can definitely cause problems in the long run if it’s not dealt with NOW.
My husband and I recently started going to counseling, we we’re having serious communication problems that literally cost us over $11,000+. This was because we we’re trying to buy a car. I thought we needed it and my husband thought it was just an upgrade from an older car we have. We we’re on two different pages about the purchase of the car.
Eventually, we started to discuss retirement and what we wanted to do and RVing came into the picture. This changed everything, it became our common ground to start having open communication about everything, including our budget. We started to dream, we both started to discuss the places we wanted to go, things we wanted to do, opportunities to travel as a couple, etc. became the open door to us discussing our finances and budget.
The car we got the first time, without communication was a GMC Arcadia. After dreaming together and talking about retirement, we realized that car wasn’t going to work for us. So we looked into getting a truck that will help with pulling our RV, traveling as a family, etc. Because of the trade, we ended up having to pay an additional $11,000 to the 2018 GMC Serria Truck we got because of our Lack of communication, which caused us to be deeper in debt.
Let’s look at some money management tools to help you as a couple:
Find money management books and resources
Getting books and resources can help with a few things: communication, it can give you a different perspective, also can help you dream and also help you realize that, if debt seems over whelming, reading and getting tools can help with making a financial plan seem possible.
Create a budget together
Creating a budget together helps both of you know what’s going on with the finances, the bills and what is going on with the household. You BOTH want to know what’s going on so you can both come to the table with ideas to see what works.
My husband took the responsiblity at first to start a budget, He’s actually really good at numbers and I’m really good about following the budget to the cent. My husband likes to spend and I’m the saver. Talking about who’s the spender and the saver in the relationship is important it helps with the budget, the triggers and accountability.
Start a savings plan
I can’t express how important it is to have a savings plan. When you get married there is no, his money and her money, it’s the idea that it’s for the household, the family, you both work together for. I literally just discovered High Interest online banking. They pay better-than-average interest rates at your local banks, such as Bank of American, Navy Federal, Wells Fargo, etc. These high yield savings accounts are mostly online banking companies that don’t have a brick and mortar structure. They have minimum fees and no minimum balances to open an account. For example Ally.com, Sychrony bank, just to name a few, you can find out more about High interest online banking at bankrate.com.
Have open communication
I can’t talk about all these resources without sharing that Open communication is something that will help you more than ANY APP, resources, tip or trick that I share with you guys. Even if you ONE of you is interested in saving money and what goes into a budget, Communication is what will save BOTH of you. Share with your spouse what you discovered that will help your household make more money. I can’t express that enough. At least one of you do the research.
My husband was the one that started the budget for our family and at the time, I wasn’t into budgeting, excel sheets or even what went into creating a budget, because I always felt it was overwhelming. After awhile when I started to see that the budget was working for us, even with my husband being the main breadwinner. I slowly became interested.
Dreaming together is actually what helped us communicate better and get us started with Budgeting where we are on the same page. We dreamt that after the kids go to move out of the house we thought traveling together in a RV would be fun for us. It got us started in dreaming together possibility working together when the kids move out and we went on and on and on and it got us right here to where we are saving for our retirement, planning our retirement cross-country RV road trip.
We do you want when the kids move out. Start thinking about it now and start saving for it. When you start now you will thank yourself later for it.
Are you budgeting now? Check out more of my tips and resources on my instagram for more information and motivation to get started.