From time to time, I receive questions from the Marriage, Kids and Money audience. I thought this week I’d shake up the show format a little bit by answering one of the questions I received recently about controlling expenses when we have a high income. Enjoy!
We all have individual passions in our lives. Sometimes our interests don’t always gel with our spouse’s interests.
You might be really into brewing beer as a hobby, but your wife … not so much. She prefers photography. It’s all good though. Both of you respect each other, you do your own thing and you’re happy.
When it comes to our finances in marriage, that can be a whole different story. This is an area where teamwork, collaboration and partnership is required to be truly successful. Going off and “doing your own thing” when your money, future and retirement are at stake can be a recipe for disaster.
It is the first Monday of the month my friends! That means, we’re throwing down another MKM Challenge. For you “personal challenge types” out there (like me), this can be a lot of fun and, if you stick to it, quite rewarding.
In May 2010, I married my dream girl. She was funny, beautiful and chock-full of 90’s TV trivia. Our first couple of dates consisted of a lot of Saved by the Bell and Seinfeld jokes.
Outside of knowing the Soup Nazi episode verbatim, Nicole and I both came into the marriage knowing the general basics of personal finance. You know, advice like:
- “Don’t carry a credit card balance”
- “Always have some savings for a rainy day”
- “Good debt is okay to have”