Tuesday, August 16, 2011

Finances and such. {Money Matters}

Finances. The word makes me blah...all.over.this.page.

No really it does. Luckily I married a man who LOVES the word, not like he will marry it or anything but more so like he tolerates it and knows he has to live with it, so he embraces it.

Therefore, what I have learned about finances. I have learned from him. It's true that habits, especially bad ones are inherited. {In a way.} We grow up with our parents and we see what they do, how they live and where they spend. We are taught by behaviors that certain things are "OK", but I think it's up to us to break those cycles and habits by learning better and improved ones.

My spending. For example. I was taught that if you have the money you should spend it...in so many words. My parents grew up; "without", so when they became working adults with children, they decided that they would live "with". Not always a good thing. I believe we can't give our kids EVERYTHING we didn't have. I learned that with TIME. Lots of time. And through my Husband.

Ricardo is a budget watcher and savings creator. He doesn't like animosity when it comes to money and he doesn't like to think he has more than he actually has.

When we got married. I was the opposite. Never, EVER, knowing what was in my bank account and not knowing what tomorrow, may or may NOT bring! I know. I sound like a monster...or do I?

Truth is. That's how I grew up, so there are more than ONE of me out there.

How am I attempting to break that cycle? By going to the school of life...and finances given by Ricardo G. my Hubby. {Ladies, he cooks too!}

So, here is what we do:

  •  Is a note maker. He makes all kind of written and mental notes about our spending. Never missing a beat. 
  • He has BILL time. He makes time at least ONCE a week to sit down and go over bills. {When they are due and how much is due.}
  • He has an organized system of balancing his check book. {He prints his current bank statement and verifies that all his current spending, he saves all receipts, is being cleared. He does this at LEAST once a week.}
  • Once he has verified EXACTLY how much money he has in the bank and when the specific amounts are due on bills, he starts writing checks. Once those checks are mailed {or amounts are paid online}, he subtracts that money from his account and ONLY spends based on the amount left. So, if his bills are $250.00 and he has $500.00 in the bank until all the bills are cleared he assumes that he ONLY has $250.00 in the bank and works from that. NEVER over spending.


  • I am the supporter. I make sure all the bills get to Ricardo in time. That means. I am the mail keeper. I only keep bills and important mail. Throw everything else away. Immediately. So, I sort mail everyday. 
  • I also keep my receipts and balance my checkbook weekly. I do everything online so I don't really print much. 
  • I assure that I have extra money by not over spending or spending on things I don't need. {I try not to spend cause I want. And make sure I keep tabs on what I do spend on.}
  • When Ricardo sits to do bills, I stay close by with my check book and exact amount of money in my bank account to help with the check writing. {We do this together every week if possible, if not at least every other week. TOGETHER.} 
One thing I have learned is my partnership with my Hubby. We live together, so we spend together. It's the only way. Of course he knows that I deserve some me time which usually consists of spending, when I have extra money, at Hobby Lobby or getting my pedicure and eye brows done. I am pretty low maintenance.

In all we watch what we spend and try not to over self~indulge.....and we know after almost 5 years of marriage that COMMUNICATION is key!!!! 

Hebrews 13:5 (NIV)

5 Keep your lives free from the love of money and be content with what you have, because God has said,
   “Never will I leave you;
   never will I forsake you.”

{PLEASE NOTE: Ricardo and I are NOT financial experts and what we do may NOT work for everyone. I am simply sharing our system in hopes that what we do does help someone out there.}  

**Next week...we talk about downsizing.

No comments: