If you are a household where one person is in charge of budgeting and paying all of the bills and that person isn’t you, today would be a good time to make a change. It is never a good idea to be in the dark when it comes to your finances. What if something happens to the one in control of the money? What would you do first?
That would be worse case scenario but having a plan and the knowledge that comes with a budget, would go a long way towards your family’s security. If you like being in the dark because the idea of knowing how much money is going out vs. coming in, you are not alone. The budget can be a scary and daunting task. Why not get involved now to gain the knowledge that you need to protect your future.
If the person in your household loves the job of handling the money and doesn’t want to give it up or if you do not have any real sense of how to make a budget work, then I would recommend that you sit down with your partner on a regular basis to determine what you have, where it is, what you owe, and when it is due. Know where all of the paperwork is kept. Know the balances of your bank accounts. Discuss future plans for vacation, retirement, college funds, etc.
You might find out that the person in charge of the money at your house is only doing it out of obligation to you. They might hate shouldering the burden all alone. They might be doing a good job but a team always functions better than an individual. Find out if you are financially secure or if you need to roll up your sleeves and get to work.
Sharing ideas and goals can go a long way to making your dreams a reality. If this is your first time openly discussing money, you might feel a little awkward but the sooner you do it and the more committed you are to it, the easier and more natural it will become because it is an ongoing conversation. Stay committed to being part of the solution so that you are not part of the problem.
Our kids need to have a firm grasp on handling finances and if both parents are able to discuss this topic reasonably and calmly, our kids will greatly benefit. Money conversations and spending styles are different from person to person. Knowing how to work through these different styles can create a stronger family unit. A world full of people who can discuss their finances, owning their victories and mistakes, is more enjoyable and less stressful!
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