All tagged couples and money
Now, let’s talk about a frugal and a spendy partner. There’s a pretty good chance that you and your partner do not have the same spending habits. This is pretty easy to manage with regular money conversations and check-ins, so that you can both be open about your thoughts and feelings. When you both agree on the larger financial goals, but have different philosophies around how much should go each month towards them, and how much should go towards living today, let’s talk about a few ways to make it work.
You had to know this was coming, it is time to make a combined budget! You need to do this to see what your big financial picture is together. If you don’t know where to start click HERE to get my free budget template.
Who will manage the money if you combine? Not sorting this out beforehand will cause you so much headache down the road. Will one of you be the main money manager or will you sit down and pay all of the bills together?
No matter how you choose to manage your money as a couple, you need to be talking about it. It might be difficult at first if you’ve never had regular money conversations, but it will get easier as you get into a rhythm and figure out what works for you both.
My thoughts are that if you love PC Points, and don’t qualify for a PC Mastercard, or you know that credit cards are not a good option for you, this account could be just what you have been waiting for
The Coles notes version of all of this investment talk, is that almost certain you will earn more interest off of the money you invest, than the money you save by making extra mortgage payments. So, from a number’s perspective, it does not make sense to make extra payments on your mortgage. One thing the numbers can’t include is peace of mind. You can’t put a price on having no mortgage payments.
