14 Mar Cash Flow Planning for Spouses
A personal point of view from a reluctant spouse.
Written by Janelle WegnerWife of Matt Wegner, Founder and Lead Counselor, Matt Wegner Coaching, www.financialexcellence.net
A Reformed Reluctant Cash Flow Friendly Spouse
“I want control! No budget or cash flow sheet is going to tell me what to do with my money. I already know where my money is going. My husband does everything on the computer, so why do I need to change anything? We’re doing fine with our money. Doing a budget will force us to change our lifestyle and sacrifice everything.”
That was my attitude until I actually sat down with Matt and did a budget sheet. Matt had been doing one for a number of months without me. I just waited for him to tell me at the end of the month how much we did or didn’t spend on each category he had. I would just say “ok” and go about my business.
After a few months, Matt asked me to sit down with him and write out a budget together. I reluctantly agreed. We sat down at the table together and went through the budget sheet Matt had printed out. He explained each category and his recommendations for each. I will admit it was an eye opener! I thought I knew where the money was going, but I really didn’t. With the budget sheet I could physically see where all the money was going and how much we had leftover. We would plan out each month and if anything came up later we would have an emergency budget meeting and shift things around. With both of us involved, there was no arguing over whom was spending money on what.
The budget sheet has become a part of our lives and I don’t see that changing any time soon. At the end of every month we go through the current month to see exactly what has been spent and then we plan out the next month. Now I am even filling out the cash flow sheet, leaving Matt with more time for Financial Coaching.
My advice to you: Take control of your financial future now and start telling your money where it should go!
– Janelle Wegner