Over the 18 years, I’ve been with my husband, we have definitely had our share of conversations and non-conversations about what to buy and when to buy. Many couples fail to have the discussion on when and what to buy. They talk about how to merge finances but fail to talk about how to merger spending habits.
Today’s couples are more aware of the power of their dollar and are more strategic and conscience with how they spend their money.
Everyday, couples are faced with big, little, emergency and even impulse decisions. Depending on the dynamics of their marriage and the quality of their communication, couples will make good and bad decisions that will affect their marriage.
With the holiday season fast approaching (well, it’s actually here), couples are revisiting the topic of what to buy and when to buy. It’s imperative, not only for businesses but also couples, to study buying habits.
By figuring out how and on what the money is spent, will help the couple zero in on if their money is being spent wisely or not.
One of the things my husband and I do quarterly is, review all of our required expenses versus what we actually spent our money on. This gives us a clear view on our spending habits and where changes are needed. And this activity helps us improve our financial communication.
Making good financial decisions as a couple is a milestone that many work so hard to obtain. It’s not easy merging as a couple and even harder combining money mindsets but the joy a couple receives when they are on one accord about money is unexplainable.
I know for us, our goal is to be financially stable where our spending habits are health as it relates to our overall financial goal.
What steps do you and your spouse take when making financial decisions together?