If you have a partner, whether it’s romantic or business, if you are share financial responsibilities, having regular meetings can really be a game changer. We all know that communication is key in any relationship, but sometimes it’s unclear what that means exactly. Communication can be nonverbal, verbal, or written, so what’s the best way to converse over finances? My personal choice is to have monthly “budget meetings” where my spouse and I sit down together and look at the following month’s income vs. expenses and expectations. The meeting allows us to both bring up our individual and family plans for the next month. We talk about upcoming trips, activities, and special occasions.
Over the past two years we have lived off of one income, because I stay home with our son. Even before my time as a stay at home mom, we took the time to have these meetings to make sure we were on the same page. I have learned SO much from being a single income household, the experience has been invaluable. I never saw myself outside of a corporate environment and thought I ALWAYS had to have my own steady income. I like to think that I will always be a student in any situation, so what I have learned after working outside the home versus my role as a homemaker is that more doesn’t always feel like more. I think it depends on how you manage your “more”. For a brief 6-9 month point in my professional career I felt strapped for time as a working mother of a new baby. We had dual incomes, but I had less time or patience to enjoy things. During my time home I was surprised to feel as if we were able to do more with less and I don’t think that would be possible without being purposeful and chatting every month. I’m not perfect and have skipped months, but overall meeting with your partner is a great way to make financial plans. It may start off rocky when you first try incorporating these “little chats”, but keep at it and see if you find a smoother path towards meeting your goals.
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