This blog contains some simple tips and advice from two regular guys. We're not accountants, financial advisors, or brokers, so follow, ignore, or discuss our ideas as you see fit.

Monday, June 1, 2009

Article: Get your spouse to stop overspending

Posted By Paul

Here is an article I enjoyed that was talking about managing a spouse who is more free with spending than you would like.

It's a short article but it reminds me of what one married couple I know did as a way to manage their money. They had a fairly common system where one spouse (in this case the wife) handled most of the day to day money issues (she wrote the checks for the utility bills and mortgage, etc.). The husband was sometimes prone to overspending and that frustrated her.

What she did was that she made sure that the husband helped with the check-writing (she wrote the checks and he entered them into the checkbook), so that he could see and realize that they were spending too much money. By actually seeing the checkbook balance shrink (and sometimes go negative) he was able to see the consequences of his actions. Prior to that his spending was something he would hear about through his wife but it never sunk in until he got involved in the process.

Here is the article:
Get your spouse to stop overspending


Maslyn said...

I love this article - there is some humor here, but a lot of seriousness as well. Divorce IS expensive, and out of control spending is something that needs to be addressed by both partners. I like that you addressed this in your blog. Saving money, especially in this economy,needs to be a priority.

Save Money to Make Money>

Sarah said...

Thanks! What a great idea to have everyone involved in keeping track of what's going on.