Family Finances

It's amazing to me that so many people struggle with money and how to spend it. Couples we know have a hard time communicating when it comes to how to spend money, and even more are drowning in debt. "I'm not worried about that (insert expenditure here), I put it on the credit card!" Ummm...well, you do realize the you will have to pay it off, right?? There are lots of schools of thought on how to budget and use money. Some will say that absolutely NO debt is best, some people use credit as their weapon of choice when visiting the bank...meaning, I know how good my credit is, now please finance this purchase for me. Some couples use envelope systems and deal only in cash. Some couples use only a credit card and pay it off monthly. The key to all of this is just to find what works for you, as a couple. Yes, it is hard to pound out a budget and agree on how to keep your family financially secure, but it is worth the effort. Once you see some progress, whether it's paying down debt or stocking up savings, you and your spouse can really begin to reap the benefits. It's vital to start TODAY...not tomorrow. Sit down (away from the kids) and get through it. Sure, it's scary and unnerving at times, but being on the same page with your finances will strengthen your relationship in the long run.