Life

Money Managing with my Husband

Brandon and I in 2010, celebrating our first year dating anniversary.

In the beginning of our marriage, managing money was really difficult, to say the least. We had very different views on what was a good investment, how much to spend when and how much to save. I hadn’t lived with my parents for about four years so I had a little more experience when it came to budgeting according to a set income. When we got married, Brandon landed this awesome job with a 40k starter salary. I, on the other hand, had trouble finding a good job until midway through our marriage. Whenever we sat down to budget, tensions always seemed to rise when discussing why some purchases were a bad idea or how we could possibly be set back in our goals. Even within recent months, after trying several ways of running our ‘budget meetings’ together, it still usually ended in frustration.

However, while talking cash can be tough, we’ve found a great system to use concerning getting rid of debt, building a savings and wealth for the future. It’s called Financial Peace, a system built on biblical principals designed to get you out of debt and on your way to financial freedom. No more credit lines to pay, just cash in your bank/savings, and the ability to meet your goals. Since we started using Financial Peace last April, we’ve paid off over 10,000 in debt and will be completely debt free (student loans included) in fall of 2017! We are really excited about meeting this milestone because it will mean new opportunities and adventures for us to live out together. We both want to travel, help others in need and mentor young people. We want to use our freed up income for those purposes.

My coworker introduced me to two money management apps, Mint and Level Money. They are pretty handy when it comes to seeing what you’ve been spending your money on and getting your budget in line. Brandon and I are going to use these apps starting next month to make our meetings go faster and even become something we enjoy. I’ll let you know how it goes. Meanwhile, when it comes to money and marriage, don’t expect synchronicity in the first month or year. You’re gonna have to have a lot of honest conversations, allow yourselves to be accountable to your partner and set goals together. What’s yours is mine, that applies to money too. Do your best not to stake claims, exclude your partner from funds or place the responsibility of management on one person. It’s a team effort, one that can result in amazing things when mastered.

Have courage,
Elle

3 thoughts on “Money Managing with my Husband

  1. This is great advice! Me and my wife went through Financial Peace University before we got married. I would highly recommend it to anyone. I recently got a new job, so budgeting for us has been….an adventure. But congrats on the $10,000!

  2. My love went through Financial Peace University before we got married and shared all of his books and budgets with me. Once we were married and together we sat down and took a critical eye to our budget, changing things as needed. Sometimes we may not agree on what we spend money on, but we both are so thankful to be working towards the goal of being debt-free (by the end of the year, Lord willing).

    I will have to check out those apps! Thanks : )

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