In our house, we have a budget meeting each month. It’s actually really low key. I know some of you reading this might think this would be a time for fighting, arguing and someone sleeping on the couch, but that’s not how we work here.
Each month I prepare the budget. I start with last month’s and change what needs to be changed (electric bill, gas bill, etc). I then update the amount we are going to throw at our debt. Bottom line – we spend every dollar on paper. When the budget is done, I print it out and Jeff and I sit down somewhere to go over it. This month, we had the budget meeting laying in bed in the middle of the afternoon. It doesn’t have to be a really formal thing. I explained some of the things that popped up this month, like our car taxes or extra money for groceries. He looked everything over and asked about the progress we were making on the snowball. We made a few changes to things and I updated the budget.
The whole process took about 30 minutes of discussion. No fighting. We share a common goal: to get out of debt so we have all that extra income to live like no one else. When you have that common vision, talking about money just isn’t that bad. Do you and your spouse have a common vision? Do you dream together? We do and that dream is awesome. We’ve put together a plan to achieve that dream and we are doing it together.