7 Tips to Budget Without Fighting




One of the first things any married couple should do is put all their cards on the table and set up a budget. If you set up a realistic budget based on your joint goals in life, there shouldn’t be that much to fight about. However, most couples do sometimes fight about money. Having a budget will cut down on fighting if you both understand the point of the budget and agree with the budget. 1. Create a Joint Vision – What are your goals in life? What do you see your life being like in 5, 10, and 20 years? Dream together of possibilities and listen- what do you want to experience and feel about it. Choose one or two short-term goals and 1 or 3 long-term goals that are important to both of you. 2. Create a Spreadsheet for Income, Investments & Expenses – Don’t try to memorize what you see regarding your accounts. Put it all into a spreadsheet or any system you find that helps. You should be able to see your income, investments, and expenses, at a glance, including both the budgeted amount and the actual amount. In addition, you should see your pay-down progress if you’re working toward paying off debt. 3. Determine your baseline - What is your minimum bare-bones budget to make ends meet. Housing, food, utilities, insurance are non-negotiable. When you know these numbers you can move on and determine other categories such as how much to save, spend on entertainment and other things. 4. Determine How Much You Need to Save – Using your future goals, you’ll want to determine how much you need to save. If you want to have a certain amount in your account by a certain year, what will that take, based on today’s numbers? You’ll adjust this each year to account for changes. 5. Review Finances Together Regularly – Take the time together to review your finances and how you’re both doing on a regular basis. Some people like to do it every single month, and others do it quarterly. It will depend on your situation and how much control you both need to exert to ensure you stay on track. 6. Be Considerate & Flexible – As you’re creating your budget avoid placing blame for anything from the past. Start fresh from today with what is your reality. If you’re in debt due to poor planning even if it’s just one of you at fault, let it go and work from now to change the future. After all, you really cannot change the past. It’s done and over, time to move on. 7. Ensure Each Party Has Their Own Spending Money – Regardless, the budget and the plan always work in a way that each of you gets some money that you can spend any way you want to. It may not be very much while you’re trying to pay down debt but try to make it fair and equitable. Fighting over money can be reduced if you get on the same page. The goals you have should be shared jointly. Each person should have a say in how things are handled. Even a non-income earner deserves to have a say in the family budget, helping to develop spending and saving priorities. If you both accept that this is a joint responsibility, fighting will be cut down tremendously. We hope these tips will help you on your heart-focused path towards money freedom. We have more tools https://www.heartlifecoachingdfw.com/money-freedom and custom coaching packages available for relationships that are struggling with money issues. Reach out to us for your specific needs heartlifecoachingdfw@gmail.com Here for You, Clay and Sonja