Manage your money and enjoy the freedom that comes with it! Today that may be a new thought or an oxymoron you never wanted to entertain. With Canadians spending more than 20 % above their incomes, chances are you are among those who need to reassess your financial picture.

Many couples live with large amounts of stress because of the uncertainty of where they actually stand financially. Today you can begin to end this stress and take control of your finances.

The following is an eye opener for couples who have never seen on paper or their computer screen the amount of money that comes in to their home and how it is spent. This realization alone has caused couples to change their spending habits. Others have realized that their spending habits are increased around stress and have taken aim at lowering their stress.

To get started:

• Record your spending for the next month. Establish categories like Food, Mortgage or rent, Utilities, Gas or Bus fare, Insurance, Credit lines, General spending, etc.
• Also add in vacations, spending money for both of you, date nights money, savings and RRSPs. All of these are investments in your family life, relationship and the future.
• Hold onto every receipt. Write down all the bills that come in.
• Add up all of your spending and your earnings weekly
• Also evaluate weekly. See any surprises? Can you see any over spending? Stress spending or just needs that month? Sometimes we need to think through the whys of our spending too.
• Continue to record and evaluate for several months. How have you done?  Now within your earnings, establish a budget.
• Make sure all of your spending adds up to your income. Record in the computer or in an accounting book.
• Be intentional and spend less than you earn. Think about reducing your debt, especially revolving debt such as lines of credit and credit cards. Put into place a plan to pay more than the minimum.
• All credit cards spending should be deducted from the category allotted so that at the end of the month you can pay off that portion of your bill.
• Discuss all major purchases and any changes that need to be made in your budget.

** One person may handle the money and recording but two people need to own the responsibility.**

Along the way be committed to decreasing your money stress together. Discuss major purchases and hear each other on the concerns you both have for your financial health. Financial stress is perceived as being the Number One cause of divorce. Whether it is or not, the truth is this stress will always hinder conversation and intimacy in marriage.

Don’t let how your money is handled rob you anymore!

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