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Why Budget?
Our Budget Book
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The statistics say it all: money is the #1 reason couples argue and the #1 reason marriages fail. How can you prevent this? Like most problems, the answer is communication. And in the area of money, the answer is a money management system as your communication tool. Speak the same "language"Everyone needs a budget for the simple purpose of good communication. Billion dollar companies "budget" because they need a common "language" to discuss their finances. Couples need that "language" too. Budgeting is not a matter of having, or not having money—it is just an "instrument panel" of your finances so you can make informed decisions. Being able to talk about money in the same terms, and in a non-threatening manner, is the key to successfully sharing money in a relationship. Create your household budget TOGETHERWhen you create a budget together, you have a non-threatening and logical way to talk about each of your expenses. Getting all the issues on the table at once makes decisions easier. As you talk, expenses can be be laid out clearly for comparison, discussion, and analysis. Once the decisions are made, you will not have to agonize over spending decisions month in and month out. Talking through all of your issues as you go through this process gets things worked out once, it removes the stress of future money issues. Equally important to the monetary benefits of budgeting is that by setting it up together, either one of you can "run" the budget. Suppose, as is often the case, that one of you becomes the primary bill-payer. Without a consistent system known by both partners, the non-bill-payer is often left in the dark and really doesn’t know or understand the family finances. Further suppose that the bill-payer becomes unexpectedly sick or must travel for awhile. With a budget and system you create together it is easy for the other to jump in. With a budget, you have a tool for communication that you both know how to use. You have a consistent method. You both "buy into" the ramifications of decisions because it is not a situation of one "imposing" something on the other. "Budget" does not mean "deprivation!"Probably the biggest reservation couples have about starting a budget is the idea that a budget is like a diet—that they have to "give up" things to make it work. While penny-pinching is the traditional advice, newer budgets show how you can actually increase your spending money through organization. It may seem counter-intuitive, but you can actually get money back by budgeting! Unfortunately, most people have learned to think about running a budget as a torture mechanism. However, the literal definition is, "to plan in advance the expenditure of." A budget is a tool; just like your lawnmower, microwave, or computer. Simply stated, a budget is an instrument panel for your finances. Seven Topics to Talk About as You Set Up Your Budget:
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