Tag Archives: Finance

ANNOUNCEMENT

THE FINANCIAL HACK IS BACK!!!

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Courtesy of giphy.com
I’m back! That’s enough reason for  me to celebrate. 
I can give you a million “excuses” as to why I haven’t posted, but I won’t because I can sum all those excuses up into one word: COMPLACENCY. 

Over my six month hiatus, I remembered a few principles about blogging I should have never abandoned. Allow me to share the most important ones with you.

1. MAINTAINING A BLOG REQUIRES DISCIPLINE: Spending 1-2 hours each day can make the difference between an engaged audience vs an audience who suddenly becomes disinterested.

2. MAINTAINING A BLOG REQUIRES PLANNING: This includes posting on topics relevant to your target audience not just topics that interest the blogger.

3. MAINTAINING A BLOG REQUIRES CONSISTENCY: Committment is doing something even when we don’t feel like it. There’s no other way to say it.

I thank those who gave me their positive feedback as well as constructive criticism and well, just criticism in general. 

Be on the lookout for regular postings, helpful tips and tricks and I’ll be adding “My Two Cents,” a column responding to questions/given scenarios posed to me. 

Posts will be much shorter (please hold your applause,) which should make for a more pleasant reading experience (I’m a Journalism major and a wannabe writer/poet so cut me some slack here). Also look for guest postings.

Weekly Periscope sessions with The GOAL Patrol will resume although I’m indecisive regarding the future of my Facebook page. 

I do look forward to resuming my blog. I’m not ashamed to tell you I’m a little excited. Okay a lot! In the meantime feel free to explore my website and tell me what topics you’d like to discuss. 

Wishing you prosperity and healthy finances in 2017,

~Andrea L. Coleman, The Financial Hack 

HEY!!!! Be sure to follow me on Twitter, Instagram and Facebook @TheFinancialHack

Uncategorized, WISDOM WEDNESDAY

THE FOUR MONEY BEARS.. DO YOU KNOW WHO THEY ARE?

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bears

THE FOUR MONEY BEARS by Mac Gardner, CFP®, CRPS®, CRPC® is a “must have” book to introduce young children to the concept of money and how to use it wisely. Simplistic yet succinct, I highly recommend it. This book would make a great addition to your local school/public libraries. I’ll be speaking with DeSoto School Board Trustees for book approval, even if I have to purchase them myself. Purchase this book for your little ones or anyone you believe can benefit from it. (Avail…able on Amazon.)

~Train up a child in the way he should go and when he is old he will not depart from it. (Proverbs)

Andrea L. Coleman (The Financial Hack) 2016
Helping Hand Financial Counseling Ministries

MARRIAGE HACKS, Relationships

SO YOU’VE SAID “I DO”…NOW WHAT?

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married-couple

Getting married is a happy joyous time. Whether you planned a large ceremony or a small, intimate gathering, embarking upon your new life can be very exciting.

Now before you jump into your chariot and ride off into the sunset with your knight in white shining armor, I hope you and Mr. Right have already had “the talk” long before your “big day.” You know what talk I’m referring to. The talk about finances. This is one of the most important conversations you will have with your soon to be spouse…. and it is NOT to be taken lightly. It is important that each of you know where the other stands on issues regarding finances.

  1. PUT ALL YOUR FINANCIAL CARDS ON THE TABLE: Never start out your relationship keeping secrets. Your spouse needs to know if you have $30K in credit card debt. Your soon to be spouse also needs to know you accrued $75K in student loans while you were in medical school. It’s important to disclose to the other if you like spending money shopping/traveling and if you don’t budget and/or save. No one wants to find out 30 days after saying “I Do,” they’ve inherited a walking talking credit disaster.
  2. DECIDE WHO WILL HANDLE THE FINANCES: THIS IS NOT ABOUT CONTROLLING THE CHECKBOOK. This is about who is the better organizer or who has the time to sit down and take care of financial obligations. Believe it or not, there are some people (myself included) who still write checks. Even in the age of automatic bill pay, in some instances I am much more at ease when I am in control by writing the check. Another reason why it may be more advantageous that one spouse is favored over the other is time. Suppose your new bride has a demanding work schedule or is heavily involved in community service or the hubster works a part-time job? Decide between the two of you who would be the best fit to take on that responsibility.
  3. BUDGET MONTHLY TOGETHER: I recall when taking Dave Ramsey’s Financial Peace University that a couple sitting down going over the monthly budget doesn’t have to be a weekend summit. It is important to establish clear financial goals (savings, investing, retirement, new car, vacation, upsizing as you plan on a family, college funds and the list goes on.) It is important that BOTH parties speak and are heard. This would be the time to voice any concerns. If the wife is going over budget because she’s spending too much on clothes, shoes and handbags, or the hubster is losing his mind at Best Buy, bring it to the table. Not in an accusatory fashion, but in a way where your concern(s) can be heard and received. Monthly budgeting should also be a time to decide how much “pocket change/play money” the other should have. Decide on a reasonable amount and stick to it. Concerning purchases over a certain dollar amount (birthdays, anniversaries and the like, not withstanding,) couples should discuss the purchase in question before it is made.
  4. AS A COUPLE, YOU SHOULD BE AGGRESSIVELY ATTACKING ANY FINANCIAL DEBT: This would include any credit cards, student loans, car loans and the like. There is no such thing as “HIS debt” and “HER debt.” You are ONE FLESH. Therefore, it is YOUR debt as a couple. Just think of how quickly you can annihilate debt when you devise a plan to eliminate it. You’re a team. Teamwork makes the DREAM work. Once all debt is eliminated, you can focus your attention towards your next financial goal.
  5. DECIDE HOW YOUR ACCOUNTS WILL BE DIVIDED: This is always a “slippery slope” for some couples. I remember my Uncle giving my cousin and her husband marriage advice on their wedding day. His advice, “Always have ONE MONEY… PERIOD.” I may get slaughtered for writing this, but I agree in many respects. I’m a bit old-fashioned when it comes to marriage. If I can’t trust you with “our” money, perhaps we should rethink getting married. I understand many couples marry out of convenience, many marry for companionship and others simply because they need help. Believe it or not, some couples do put their money together with the end result being a Joint Checking/Savings/MMA Account. In essence, everything is done together. What I’ve seen with couples today goes a little something like this: Joint Bank Account, Joint Savings/MMA, Her SEPARATE checking account, His SEPARATE checking account, and in other cases I’ve seen some “secret” accounts that the spouse knew nothing about. Are you really saving for a rainy day or is mistrust lurking in your subconscious? Secret accounts in my opinion indicate there is a lack of trust which can defeat the purpose of marriage to begin with, but I’ll get off my soapbox when it comes to that. Who am I to say how a couple should divvy up their finances? I will say when I was married, my Business Accounts remained my business accounts because I started my business PRIOR to being married however, there was complete transparency regarding them. If at any time my then husband wanted to look at the bank statements, I had no problem showing him. He never asked to see them however, because he trusted me.
  6. STAY GROUNDED IN YOUR FINANCIAL BELIEFS NO MATTER WHAT: The #1 cause of divorce as you know is not infidelity, it’s finances. Arguments can arise from one spouse’s negligent overspending, the loss of income due to a layoff or even an unexpected pregnancy. Whatever hardship may arise, keep a united front. Talk it out. Communicate. Pray about it. Remember. The family that prays together, stays together.  GOOD LUCK AND MUCH SUCCESS TO YOU!!!

~The Financial Hack ©2016

WISDOM WEDNESDAY

YOU MAY BE BROKE BECAUSE….

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stress over debt

Stressing over bills? Is your paycheck already spent before payday? Are you running out of money before the end of the month? Can’t make ends meet even if you had two magnets? Are you robbing Peter to pay Paul? Are you sick and tired of being sick and tired?

Debt can be particularly frustrating, especially if you’re drowning in it with no one to throw you a life preserver. Even if you are able to tread water, at some point you’re going to get tired. I know, because I’ve been there. Yep. Back then you could call me the “B” word… BROKE. My secret. No one knew. Broke can take on many meanings, so for all practical purposes, let’s assume “broke” means not having enough money to cover your monthly obligations.

Have you ever stopped to ponder the reason(s) WHY you’re “broke?” If this is you, stop and think about it for a minute. What can you do differently to change your current situation? While you do that, let me list a few behaviors/attitudes contributing to your “brokeness.” Yes, I am aware “brokeness” is not a word, but it should be.

  1. You Don’t Budget: I love it when I hear people say, “Oh I’ve got it all up here” while gently tapping the side of their head. Unless you’re a mathematical genius, how could you possibly have all those numbers and figures inside your head? Yes, you may have a general idea of what comes in and what goes out, but just imagine if you were to transfer “what’s in your mind” onto paper. This way you can see clearly what’s coming in and most importantly where it’s going. After writing it down and seeing it in black and white, you’re easily able to identify “blindspots” you didn’t know existed.
  2. Instant gratification is your “modus operandi:” We live in a society of heavy consumption. We want more more more, and WE WANT IT NOW. It’s too easy to whip out a credit card and purchase the latest iPhone, flat screen plasma television, that expensive pair of heels or those Jordans that just came out yesterday knowing you don’t or won’t have the money to pay the bill in full when the credit card bill comes due. This is where Jesus (and discipline) should take the wheel. You have to be disciplined enough to “walk away” no matter how loud those items are calling your name. I love shopping at discount retailers (Marshalls, TJMaxx, Home Goods, DSW etc.) and when I decided to check myself into “financial rehab,” I literally had to alter my driving route so I wouldn’t pass the strip mall that housed these stores. Out of sight out of mind.
  3. Keeping Up With The Jones: When I look back now over my days of “Keeping Up With The Jonses” it was quite silly because I eventually realized, the Jonses were just as broke as I was. I’m not ashamed to say I went through my phase of believing driving a Mercedes Benz, carrying Gucci and Louis Vuitton handbags, having a closet full of  clothes and shoes and living in a big house complete with swimming pool when it was just me and my two dogs somehow made me feel “important.” At the time I felt having those “material things” somehow validated me. All it did was expose my weakness, and that weakness was a lack of self-esteem. Anyone who is secure within themselves doesn’t need materialistic things for validation. Let me be clear. I still have all of those things mentioned above (minus the Mercedes Benz,) but I realize those things do not define me. There’s nothing wrong with wanting nice things, it’s simply nonsensical going deep into debt in order to obtain them.
  4. Financial Literacy Wasn’t Taught In The Home: My father was always good at saving money. He worked hard and sacrificed for his family. He taught me how to write checks and balance a checkbook when I was 11 years old, and even after I got a job at 15 and was buying my own school clothes/paying for school activities and such, he never stressed to me the importance of saving, yet he was a HUGE saver. I’m still puzzled by that. I’d like to think he was proud because I was being responsible. Not every one my age had a job. I didn’t need a job, I just wanted financial independence. Asking for $10 to hang out at the mall with friends turned into a two hour lecture about how money didn’t grow on trees, but I digress.  I also remember my Dad telling me, “If you can’t pay cash, you can’t afford it.” To some extent, I do agree with him now that I’m older and wiser. He also advised me not to get caught up in credit cards when I went off to college, however, he didn’t explain to me why. I wished he had. It would have saved me a ton of angst and grief. If financial literacy isn’t taught at an early age, it’s easy to fall into the “debt trap.”
  5. You Refuse To Take Responsibility For The Actions Stated Above: This is the most important of all the habits/attitudes/behaviors listed above. If you don’t acknowledge that your spending is out of control, that you don’t budget, that you mismanage your money, or that you seek validation by obtaining material possessions, you will forever remain in a state of “broke.”
Perhaps one or two of these habits apply. Perhaps all of them apply. Either way, you are in control of your financial destiny. It’s never too late to make changes. It took me until age 39 (when I married) to understand how important it was to build a financial future. Living the single life for so long allowed me the freedom (or so I thought) to be reckless with my spending because I only had myself to hold accountable. However I changed my financial mindset, even after divorcing. I adjusted my spending habits. I budgeted my money and I am now able to truly enjoy what I’ve accumulated over the years. So you see, I no longer need that Mercedes Benz for validation. I look better driving this “PAID FOR” Honda Coupe anyway.
~The Financial Hack 2015
Finance, Financial Fitness Boot Camp, Money, Money Management, Personal Finance, THE GOAL PATROL

MASTERING MULTIPLE STREAMS OF INCOME

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multitasking.jpg

Creating multiple streams of income without wearing yourself out can be quite tricky, especially if obligations such as family, school or even your nine to five job take priority. The goal is to find what is easy and convenient… FOR YOU. Here are a few examples of Multiple Streams of Income that I recommend.

  1. Open an eBay Store: Unlike your classic brick and mortar places of business, your eBay store is a virtual brick and mortar store (minus the overhead.) Just think. There are no costs for leasing space. No utilities. No hassle of hiring employees or having  set operating hours. An eBay store allows you the luxury of making money on your own time and on your own terms. If you’re looking for inventory, start by shopping your closet. In my 13 years experience with eBay, I find that new/gently used shoes/handbags/accessories and perfumes are quite popular. Certain books and children’s clothing are popular as well. You can choose to auction your items or sell them outright at a set price (Buy It Now.) Here’s the catch: If you wish to be successful at your eBay store, you must keep inventory in stock at all times (even if it’s just a few items) and a variety of items is preferred. Be mindful of the pricing of your items. Your item is only worth what someone is willing to pay for it.
  2. Find something you enjoy doing, or are good at… AND FIND A WAY TO MAKE MONEY DOING IT: Are you bilingual? Offer private lessons, or consider teaching an ESL class. Good in Math? Consider becoming a Math Tutor. Are you a “techie?” You’d be surprised how many people would rather NOT install Windows on their computer or do the simplest of troubleshooting when it comes to their computers. That’s where you come in. Do you enjoy exercising, working out and eating healthy? Consider becoming a Personal Trainer. Can you play the guitar, piano or other instrument? Same applies. Do you love animals? Consider dog sitting or becoming a dog walker. Babysitting is very popular among teenaged/college females. Signing with an agency would guarantee you hours and if you’re good at it, word of mouth is the best referral.  Catch my drift? These are just a few examples of skills you can tap into to make extra money.
  3. Write a Book: Years ago before the age of the Kindle and e-books, self-publishing was the most cost efficient way to get your book to the masses. Now, all you need is the manuscript, a good editor (or editing software) and VOILA! Your book is available as a Kindle e-book for $5.99. That isn’t so bad if you’ve sold 2000 units and counting! NOTE: Freelance writing isn’t off limits either. It may take a while to find one, but there are some publications who will PAY for your article submissions so keep your writing skills sharp.
  4. Become a Substitute Teacher or a Realtor : If your schedule allows, become a substitute teacher. Subbing one day a week could generate an additional $200-$300 monthly depending on whether you hold a college degree or are certified by the state to teach. Also, with the housing market bouncing-back, real estate can be an effective income producer. I’m a licensed Real Estate Broker and it’s always good to have my license to fall back on if necessary.  NOW IF ALL ELSE FAILS…..
  5. Get a Part-Time Job: As much as I hated working part-time jobs in my life, I did it any way because I had to. In high school I worked for a popular fast food chain, in college I worked at a gas station (not as a mechanic lol,) I’ve worked for a grocery chain, I’ve worked making copies at night for a law firm (through a temp agency) you name it, I’ve probably done it. I can recall working a nine to five, driving home, grabbing a quick bite to eat, then heading to my six to ten (or six to later depending on where I was working.) Retail is ALWAYS available, video stores were once popular (until Redbox and Netflix dominated,) and let’s not forget fast food restaurants. For many, fast food is the absolute last resort, but if there were nothing else and you really needed the income, you’d take it. If you just can’t fathom working in fast food, consider Starbucks which offers its employees (even its part time employees) health insurance. There are many people working there just for the health benefits.
So as you can see, there are many ways to generate multiple streams of income. It all depends on your area of expertise as well as your flexibility. Don’t rely on just one stream of income, if possible, have SEVERAL STREAMS because they all have one common denominator; Getting you one step closer to reaching your financial goals. GOAL AFTER IT!!! They aren’t called “Multiple Streams of Income” for nothing.
~The Financial Hack (copyright 2015)
MOTIVATION MONDAY

MOTIVATE YOURSELF!!!

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“Liven up yourself in the morning time y’all…. Liven up yourself, Cuz I said so.” ~Bob Marley

If you’re familiar with Bob Marley and the song “Liven Up Yourself,” you know his interpretation is slightly different from what most are accustomed to. Its underlying meaning however, remains constant. It’s time to get up. It’s time to wake up.

IT’S TIME TO MOTIVATE YOURSELF!!!

When I decided to commit myself to helping others by promoting Financial Literacy, there were people around me who were skeptical. People close to me. People I actually knew. There were naysayers and I sensed a general lack of interest from those I believed could benefit from the knowledge and experience I had. It had/has nothing to do with “feelings of superiority,” I was simply excited to share with others what took me most of my adult life to learn. It was crushing to not have the support from people I truly believed I could count on, but that didn’t stop me. I AM MOTIVATED to do what I do. I “liven up” myself daily and am constantly reminded of my purpose. I wake up every day determined to learn something new that I can share with those who wish to receive it. As someone reminded me in one of my Periscope sessions, when the student is ready, the teacher will come. Powerful.

I teach Financial Literacy to our youth. I teach Financial Literacy to adults…. And you know the beauty of it all? THEY GET ME. The ability to connect to people no matter where they are on their financial journey is motivation for me.

Motivation comes from knowing you’re on the right track. Motivation comes from knowing what you are doing is positive. Motivation comes from the excitement of seeing your purpose manifesting itself. Walking in my purpose is enough to keep me going.

So stop seeking validation from others. Stop waiting for someone to pat you on the back and tell you “Good Job,” or “Well Done.” Never mind what others are saying…

You’re too busy being great.

~The Financial Hack ©2015

 

 

Financial Fitness Boot Camp, GOAL MAPPING/GOAL SETTING

2016 IS HERE: THOU SHALT NOT WASTETH TIMETH!!!

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January 1st. The start of a new year. A new beginning. 2015 is in the past. Blah blah blah. You’ve heard it. I certainly have, and now that we’ve had our New Year 2016 pep talk, IT’S TIME TO GET TO WORK!

THOU SHALT NOT WASTETH TIMETH!!!

In the “Financial Fitness Boot Camp” postings on my website as well as in our Periscope chats, I’ve stressed the importance of financial independence and freedom. It is my prayer that those that are “in this to win this” will fully commit to their financial journey and not just “come along for the ride.” Achieving and maintaining financial independence is an ongoing process. You’ll hear the “F” word… A LOT. FINANCES is the purpose of this entire blog. I’ve actually dropped FIVE “F” bombs already. You’ll hear the “D” word just as much. DISCIPLINE is not to be taken with a grain of salt…Not with what we (yes WE), are about to do. To obtain and maintain financial independence (there’s the “F” word again) and peace, discipline has to be a part of the equation. When I speak of discipline, I’m not just speaking of financial discipline, (well mostly I am), but discipline in ALL areas of your life. Discipline can be incorporated into your daily routine. Forming habits such as becoming more productive, exercising daily, becoming better organized or using your time wisely to name a few, can be attributed to employing discipline.

You’ll hear me say the “P”  word too. PLANNING of course. How can you execute any project without a plan? Simple tasks require planning. Maybe not sophisticated planning, but planning to some extent is still needed nonetheless. Reaching financial independence requires a plan… A BIG PLAN! And let’s certainly not forget the “B” and “S” words. That’s right, BUDGETING and SAVING. Those are the “Queen Mothers” of words that not too many people like to hear when it comes to their finances which may be in shambles. The truth HURTS.

Now that your finances have been “verbally assaulted,” Welcome to Financial Fitness Boot Camp.

So you see, the purpose of this blog really wasn’t to give you an overview of what to expect in the weeks, months or possibly years to come. You can peruse the website for that. This blog posting served the following purpose:

FINANCE (MONEY): In relation to THIS BLOG POSTING, time is money. My money. Point blank period.

DISCIPLINE: Writing this blog posting on New Year’s Day even though there are a million other things I could be doing instead? That’s discipline. Enough said.

PLANNING: Although I didn’t know exactly what I would say or how I would say it because I like to freestyle and let the thoughts come to me as they flow oh so eloquently while I speak poetically as my fingertips tickle the keyboard…. (insert chuckle here), this was a planned post.

BUDGETING AND SAVING: I had to “budget” my time in NOT being so long-winded which I have a tendency to do and “saving” some of my “financial rhetoric” for future posts.

As you can see, I love using analogies when writing. 

HAPPY NEW YEAR!!!

~The Financial Hack ©2015

Financial Peace University

CLASS IS IN SESSION: NERDS VS FREE SPIRITS

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schools_in_session

I know I’m behind on my postings regarding Dave Ramsey’s Financial Peace University. If you’re new to this blog, I explained I was taking this class to reinforce what I already knew about finance and to learn additional principles and new techniques and to simply see a picture of financial freedom through someone else’s eyes. Now, I don’t claim to know EVERYTHING about finance, but I do know how to handle money. Although I was irresponsible with it when I was younger, I promise you, I’ve got a GOOD GRASP on my money now. More like I’ve got in a “headlock.”

Even though we are in our FOURTH WEEK of Financial Peace University, and I did tell you I would post weekly about my takeaways from each class session, I thought I’d better get you guys up to speed…. There’s so much information and so many thoughts and ideas running around in my head, I can’t wait to share them with you, but “baby steps” I must take. I thought about bringing you guys up to speed in this one blog, but I get so excited and passionate about the possibility of helping someone else, I’ve got to literally blog one class session at a time. I’ve been known to be quite long-winded when blogging, so brevity shall be my focus. I’ll save the wind-bag for my book.

NERDS VS FREE SPIRITS.

Think about that for a minute and if you ponder it long enough, you can figure out which is which. What may surprise you is which category you fall into. Or not. I knew I was a NERD before we even completed the questionnaire. I answered 9/10 questions, NERD. Yep. 100% Grade “A” NERD. And I wasn’t surprised.

NERDS are your “do it by the book” kind of people as it relates to money. They set goals, create budgets and follow them to a tee. If you’re married to a NERD, the NERD can create a monthly budget and tell you, “There’s no need to discuss this, it’s correct. BECAUSE I CREATED IT.”  The FREE SPIRIT… Not so much. FREE SPIRITS are just that, FREE SPIRITS and they don’t like to be micro-managed and told what to do especially when it comes to money. I’m not in any way suggesting FREE SPIRITS are careless and irresponsible with money. A FREE SPIRIT will take care of their necessities and save as well, but what’s “left over” is theirs to play with. If the FREE SPIRIT sees something they wish to purchase, a piece of art, home décor, tools from Home Depot or whatever tickles their fancy, if their business is handled, they feel entitled to do so, and technically, they most certainly are. The problem is, the rigid, strict by the book Taurus (strike that,) I mean NERD, may become frustrated and deem the FREE SPIRIT as being frivolous. Quite the opposite.

When I was married, my ex-husband and I had many disagreements over finances. He was a FREE SPIRIT. He was the type that wanted a front loading washer and dryer when there was absolutely NOTHING wrong with the washer and dryer we had. He did his part and contributed, but when it came to saving, I felt he could have done more. It was more like me telling him “YOU NEED TO DO MORE!!!” Yes, those caps lock were intentional. We all know the majority of marriages that end in divorce do so not because of infidelity but because of money issues. Now money wasn’t the only issue my marriage faced. It just seemed to be at the forefront of every argument. I was trying to build and save and it seemed as though all he wanted was to do was spend.

One would think a union between a NERD and a FREE SPIRIT is an unlikely one, but that simply is not true. As long as there is a little thing called BALANCE and COMPROMISE, it can work. There have to be some discussions about money and budgets… You have to discuss who’s going to handle making sure the household bills are paid monthly, how much you intend to save, and where your money is going. AND YOU CERTAINLY DON’T WAIT UNTIL AFTER YOU SAY “I DO” TO HAVE “THE TALK” ABOUT YOUR FINANCES. Lay all your cards on the table. YOU ARE A TEAM and as the saying goes, “There’s no “I” in team.”

TIPS FOR THE NERD: Once you’ve meticulously prepared your ZERO monthly budget (meaning all monies for the month are accounted for.) When you subtract monthly bills, household/car expenses, entertainment, etc. even down to your FREE SPIRIT’S “play money,” you should have a zero balance because all income for the month, yes EVERY penny, is accounted for. In a perfect world for the NERD, the FREE SPIRIT agrees to, signs off on the budget and the round table discussion is over. Umm Errm. It’s not that simple. If you attempt to force a budget you’ve prepared on them, your FREE SPIRIT will probably have some FREE CHOICE WORDS for you. Here’s how you side-step a potential land mine:

DEAR NERDS,

Present your budget to the FREE SPIRIT FIRST, explain why you believe certain changes if any should be made, THEN SIT DOWN AND SHUT THE HELL UP! As Dave Ramsey said during the webinar, the NERD has approximately 17min27sec of a FREE SPIRIT’S attention, then they’re totally checked out. (HOLLA IF YA HEAR ME!!!) Your budget meeting doesn’t have to turn into a weekend summit where you don’t leave the kitchen table until a resolution is agreed upon. Allow your FREE SPIRIT the chance to give their input and my precious NERDS, LISTEN TO THEM. Don’t be so quick to dismiss their ideas and suggestions, otherwise, that may be your first and last budget meeting.

TIPS FOR THE FREE SPIRIT: Yes your NERD tap dances on your last good nerve every time there’s a meeting regarding money. Understand, your NERD doesn’t mean to be bossy and unreasonable (hopefully not,) it’s just that they want to be secure and financially stable, not just for themselves, but for the both of you. Remember. YOU ARE A TEAM. Compromise. For example. Are you able to cut your play money to $300 a month as opposed to the $500 a month you’ve allotted to appease the NERD? The NERD may have originally suggested cutting your play money to $250 a month. You countered and suggested $300. By compromising, the FREE SPIRIT STILL has a significant amount of money to play with, and the NERD is happy because they got their way (which was reducing the amount of your play money to contribute more towards savings.) This is how successful budgeting in relationships should work. It should always be a WIN-WIN situation for both the NERD and the FREE SPIRIT.

happy-couple

Remember: HAVE DISCUSSIONS, FIND A MIDDLE GROUND AND COMPROMISE. You’ll have a much happier and successful marriage when you do.

Whelp. So much for the brevity I aimed for. I pray you enjoyed this blog posting just the same. Wishing you much success on your financial journey.

~The Financial Hack ©2015