Why My Husband and I Don't Fight About Money
Why My Husband and I Don't Fight About Money -- Even With Different Habits
by Christy Bieber | Aug. 17, 2021
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My husband and I tend to have very different spending habits. I am generally much more of a spender than he is, while he has a preference for saving more money. We also have different investing styles, and we both like to spend money on different things.
Despite our very different financial habits, we have had almost no money fights over the decade that we have been married. And the reason for that is our budgeting method.
We have a unique approach to budgeting
Despite our different attitudes about money, the way that we budget is the big reason why my husband and I don't have money disagreements.
See, we work out a family budget together -- one that dictates how we spend, save, and invest our money. But when we do it, we don't start out basing our budget on what we hope to spend on different things or what investments we want to buy. We don't even start out looking at our current spending or the amount of income we make.
Instead, we sit down and discuss our shared financial goals. Specifically, we've both had goals in the past to buy a house together, to pay off any debt that we brought into the marriage, to avoid credit card debt, and to retire early.
These shared financial goals are then used as the basis of our entire budget, including our spending and investing decisions. We look at the amount of money that we need to set aside to accomplish the goals that we both agree is important, and we make that a priority spending item above all else.
After we've accounted for all of our shared goals, we can see what money is left over, devote some of it to our needs, and then divide the rest evenly towards our different spending preferences. We can also make a decision about how best to accomplish these goals.
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