Fall is here, Thanksgiving is just around the corner, and before you know it, Christmas will arrive! I love the holidays! I love to fellowship and the spirit of giving! I do not, however, like to spend too much money. Money mismanagement can make for a burdensome season. Hopefully, you have not waited until now to think about budgeting, but now is better than later!
Chelsea Matthews believes Financial Literacy Matters. Here’s what she has to say about marriage, money, and the holidays.
Money and Marriage… A topic so vitally important to a successful relationship, yet many couples just don’t talk about it. Why is it a taboo topic for so many? Something that affects us every day of our entire life…the fun things we get to say yes to…and the difficult things we have to say no to.
My husband and I went to a John Maxwell conference recently. There was something he said that really stood out to me. He said, “Sometimes people are more comfortable with old problems than they are with new solutions.” I believe the real issue is that people have not been educated or empowered financially to even know what options they have, or how they could affect their financial future. This is why my husband and I are dedicated to the changing Financial Literacy.
Depending on what we experienced with money growing up, we all develop certain beliefs. For example, if money was scarce, you may have heard things like “Money doesn’t grow on trees” or “We can’t afford that.” You may have grown up believing money will leave you, and so, you became a saver. On the other hand; if money was abundant, you may have heard things like “It’s only money” or “You can’t take it with you.” You may have grown up believing money should be spent freely, and so, you became a spender. Often in a relationship, couples have different beliefs about money and how it should be handled. Here are some tips to get the conversation about money started:
Communication is key! We must take the time to learn what our spouse’s beliefs are around money, and why. We must also take the time to learn what our own beliefs are. We may learn some of those beliefs are not serving us well and we can trade them in for new beliefs. Sometimes we just see things differently from our spouse and that’s okay too. What’s important is for both parties to be heard and respected, with no judgment. Once we can understand why someone thinks the way they do, it’s easier to be understanding.
For example, I was a saver and my husband was a spender when it came to growing our business. It would make me very nervous when he wanted to purchase something we hadn’t budgeted for and he felt that I was thinking in scarcity. Once we were able to talk about our beliefs around money and we knew that we had the same end goals, we were able to appreciate why those beliefs were important to each other. Now we have a great balance. It takes work, communication, and commitment to be on the same page when it comes to money and marriage, but the payoff is definitely worth it! Once you’re able to talk about your beliefs around money and what is important to you both, you are ready to start building a Financially Fit Marriage with the 6 Building Blocks for an Unbreakable Financial House. You can read a brief description about each building block here: http://bit.ly/6Blocks .
Since the holidays are coming up, here are some financially conscious tips to help prevent overspending:
- Put aside money for the holidays throughout the year, in a separate account. If you save a little bit over a longer period of time it really adds up. It doesn’t matter where you start, as long as you begin!
- Keep a holiday gift list throughout the year. Make a note of things your spouse, family or friends want or need. You will find that planned purchases are more meaningful, will actually be used and may even save money.
- Focus on what you are grateful for and get creative. Making family photo albums and special keepsakes are very affordable on websites like Shutterfly.com and Zazzle.com.
- Volunteer together and make a difference in your community.
- Have a potluck. Spend time with loved ones and share the cost.
- Give a donation to each family member’s favorite charity in their name.
Happy Holidays!
Chelsea and her husband Martin are licensed financial professionals who teach people How Money Works through personal and financial development. They focus on helping people change their mentality and habits to make better financial decisions. If you would like to discuss your own top personal financial concern, they will offer a complimentary 15-minute consultation for the readers of this article. You can schedule at: MartinMatthews.setmore.com . To visit their website, go to: JoinMartin.com .
