Frugal Living

Six Things To Do If Your Partner Is Bad With Money

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The most common cause of arguments in couples is money. Money can become a sore spot for couples if it is not adequately discussed. When two individuals come together, so do their finances, and with that comes all the good spending habits and the bad ones.  It’s common knowledge that it takes more than love to keep a relationship intact, and sometimes when people finally realize the issue, it’s already too late. For a relationship to work, people need to talk to each other, be honest, and understand that life is no longer just about them. Thus, any financial missteps one partner makes will likely affect the other.  Let us see how you can improve your finances and help your spouse, who is bad with money:  Talk to each other When both partners are working and unable to agree on a financial plan, they tend to take the easy way out, which is to split the bills equally among themselves. After all the bills are paid, both partners can spend their remaining money as they see fit. It’s a great plan, but sometimes it leads to resentment when one spouse makes purchases for themselves.  Moreover, it also diminishes the spending power of the couple as a whole, hindering their ability to pay for long-term expenses.  Splitting the bill can be a great strategy initially, but you have to make better decisions for the future. So it’s necessary to discuss your finances and devise a plan to support you in the long run. You must do it as a team, not as two separate individuals.  Pay down debt Even if you don’t like it, your spouse’s debt becomes yours when you get married. Even though you are not legally responsible for the debt your spouse gets into before you get married, their credit score will affect your ability to get credit together in the future.  Since credit card debt is so prevalent today, you and your partner must take immediate action to consolidate or settle your credit card debt.  Build an emergency fund Having an emergency fund can make sure you have your finances under control even before an emergency occurs. Along with avoiding getting into debt and not using credit cards too much, having an emergency fund is essential.  When making a monthly budget, set aside a small percentage of your total funds in a savings account that acts as your emergency fund, you should make sure you keep growing the emergency fund until you have saved at least three to six months’ worth of expenses.  You must ensure enough funds are in your account to help you get through unexpected expenses. Also, both partners must agree that neither can touch the emergency fund without the other knowing.  Don’t forget to sympathize Bad money habits come from a lack of financial education. Many individuals may not get proper financial education, which is not your partner’s fault. It is normal to feel angry and frustrated when your partner is bad with money, especially your money. Take a step back and look at the points that may have gone wrong.  Because of the emotional intensity of the topic, couples often struggle when discussing financial matters. It’s a good sign if your significant other is honest enough to admit they have a money problem because that means you can start working together to solve it. You should give your partner a chance to learn how to manage their finances correctly through financial education and advice. Let them understand what they are doing wrong, and remember to support them through the process.  Have weekly budget meetings Managing money can get complicated, even with a budget in place. Communication is vital in these scenarios. Having weekly budget meetings, even for 15 minutes, can be helpful for both of you.  With the help of these budget meetings, you can determine how much to set aside for groceries, how much to spend on the weekend, and how to save more money. You should ensure you have one day fixed for these meetings when you know you won’t be interrupted.  Take help if needed Sometimes, helping your spouse alone may not be enough. A financial advisor can help you in ways you might not be able to do independently. A financial advisor can help with various financial issues that can become severe if not handled properly.  Bottom line Too often, people let financial issues fester for too long before seeking help. Having a partner who is poor with money can cause major problems in a marriage.  To assist your partner in improving their financial situation, you both must have a firm grasp on the factors that have contributed to their present condition.  When you and your spouse commit to a budget, you can reduce some of the strain from living with someone terrible with money. About The Author: Lyle Solomon has extensive legal experience, in-depth knowledge, and experience in consumer finance and writing. He has been a member of the California State Bar since 2003. He graduated from the University of the Pacific’s McGeorge School of Law in Sacramento, California, in 1998 and currently works for the Oak View Law Group in California as a Principal Attorney.

How To Save Money Around the House

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Many people would like to see their monthly expenses reduced, and doing so can begin right at home. Here are some easy steps that can be taken right away to see positive results. What’s holding you back? It’s time to start saving money.  Photo by RF._.studio Make Cooking Cheap And Easy Everyone needs to eat every day, but it’s often one of the most expensive things we do. However, you can still eat healthily without going into serious debt. Use coupons and grow some of your own food to cut down on your grocery bill. Meanwhile, methods like meal prepping and Crock Pot cooking can cut down on both money and time spent cooking. You can also look at things like how long does beef jerky last so you never waste food and can keep it for as long as you need to. What more could you want from something that improves both your health and your bank account? Think About Smarter Spending We all have a lot of stuff we need to buy over the course of our lives. Those expenditures can add unnecessary stress if you aren’t careful. In the long run, buying in bulk can be a great money saver, but only if you take the proper precautions. You can save money by purchasing generic alternatives to popular brands in many instances. In other words, think about smarter spending; always consider alternatives and whether you need the item in the first place.  Lower Service Bills When it comes to subscription services, consumers are most likely to make a financial mistake. These days, it’s easy to save money on utilities like gas and electricity by using a price comparison website. However, it is more important that you review your wifi, broadband, and television service plans. Many people waste money on these things, but by switching to a more affordable plan, you can save hundreds of dollars annually. Stop Energy Wastage  Wasted energy is the leading cause of unnecessary financial losses. A good first step would be to upgrade the insulation. This can be even more cost-effective if coupled with the installation of money-saving fixtures such as LED lights and low-flow toilets. But in reality, the simplest way to get started with making your money work harder is to alter your routines. Even small changes, like turning the water off while brushing your teeth, can have a significant effect. Stop Hoarding  Getting the most use out of what you have is essential for a low-cost lifestyle. The sad truth is that millions of us are hoarders who delay moving unwanted items from the garage to the trash. You can get a quick infusion of cash by learning how to sell your unwanted items on sites like eBay. It makes no difference whether you put that money away for the future or use it to buy something you actually need. Rather than letting those items take up unnecessary space, any action is preferable. Try DIY Making repairs and upgrades to your house is important, and the need for expert assistance is something you’ll certainly come across at some point. However, there are plenty of tasks that you are equally qualified to complete. It doesn’t matter if you’re painting the walls or constructing a deck for the backyard. If you put in the extra effort to save money while improving your home, you’ll be able to do a lot more. The feeling of accomplishment is a positive thing too. 

How To Keep Your Children And Their Stuff Safe At School

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Disclosure: Affiliate link included in this sponsored post. All opinions are 100% my own. Full disclosure here. School has started and children and teens everywhere are busy catching a bus or riding with a parent to school every morning. As parents, we remind them about safety and then worry about them following the guidelines. Even parents have rules to obey. If we’re driving the children to school, we must realize that there are many little children running around. It’s so important to drive the speed limit and watch out for children. Another reminder is to stay off the cell phone because of the obvious distraction. Parents can make smart shopping decisions that can be a safety boost. When shopping for your child’s jacket or coat, look for one with a reflective strip. This will help to keep them safer on those early mornings that are darker. Backpacks often have them, too. Children lose things…they really do. My kids did and yours probably will, too. There’s a way to make sure these items end up in the lost and found. Good labels that stay put will help you to know that all of their school objects are going to be found and returned to you. Labels on everything that goes to school can stop all of the items getting lost. Labels need to be very special to go through all the tough circumstances that school items will go through. Name Bubbles has labels for every situation. Do you have a lunchbox or sandwich kit? Labels on these items can go right into the dishwasher. Stick on labels on clothing can go right through the washer and dryer (follow theapplication directions). There are labels that are perfectly designed for all age groups from day-care through college. I love the large packs with 96 stickers. They are so easily customized with different designs, colors, and of course the child’s name. Mom’s will love the Baby Bottle Write on Labels. They are reusable and safe for microwave and freezer use. Whether you would like Iron-on or Stick-on labels, Name Bubbles has every type of label that you would want. With the custom feature, parents can pick their favorite art, color, font, and size of the package. I think you’ll love them as much as I do. Shoppers at Name Bubbles can save 20% now with this savings code: BTS20.

7 Reasons To Love Downsizing

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Moving to a much smaller home has been a rewarding experience that has resulted in a more peaceful life. It really is a journey or a process to begin downsizing. For me, it took time, even with careful planning. We now live in a home that is almost half of the size as our previous homes. Now that two of our children are adults, we only have one college-aged child living with us. We feel like empty-nesters, because this child is pretty much independent. Living in a smaller home means that a great percentage of our furniture wasn’t needed. Much of the extra furniture was offered to our children. Whatever furniture they didn’t need was donated to someone else who could use it. This made our moving to a new state so much easier. Downsizing is a sure way to lower your utility bills, too. With less rooms to heat and cool the electric and gas bills are lower. We downsized our wardrobes, and that makes less clothes to store. I like the way the closet isn’t so crammed, and I don’t keep clothes that I will not wear. Donating the extra clothes gives someone else the chance to use. Having less clutter in the cabinets and drawers makes me feel more peaceful. Cabinets crammed with items that I might use once or twice is wasteful and frustrating. It makes me unhappy to need to unstack and move everything to get an item from the back corner. Again, we donated unwanted items. I’m less likely to buy more stuff, when there is no place to put it. That not only keeps clutter away, but saves the bank account. Being retired, there isn’t an ever-growing bank account. It has been much easier to get and stay organized when I have less stuff. Downsizing has helped me to be more creative. As I decided what furnishings to keep, I re-examined my personal style. Selecting furnishings that made me truly comfortable and cozy has created a look that I love. Downsizing and simplifying our home has made me feel like my mind is more clear. When I look around, there is less of a mess. I’ve only kept things that are beautiful to me. Quickly putting excess paper into the recycling box means that it’s out of sight. Time is so valuable, and downsizing means less time spent on things I don’t love. I don’t like to do housework (who does?) and now there is less house to clean. There is less flooring to vacuum or mop. There is less furniture to dust. You get the picture. There’s also less grass to mow. (we’re renting temporarily, so there’s no grass to mow). Have you downsized or are you thinking about downsizing? In 2019, many baby boomers are choosing not to downsize. There are pros and cons to everything, but I am very happy with the choice we’ve made. The benefits have been perfect for me and my family. @2019, copyright Lisa Ehrman

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