Happy Friday! Hope your week has been wonderful. Do you have any fun plans for the weekend, now that the Christmas season is in full swing?
One of my readers asked how Mr. Handsome and I approach finances and whether I have to ask my husband for spending money. I thought I would share a quick answer and then invite you to do the same.
In our house, I do most of the bill paying and “finances.” I did a business concentration in college, and I really enjoy keeping all of that organized. Mr. Handsome would tell you that I’m better at multitasking (because who has time to sit down and focus on one thing when you have a toddler?) and keeping bills in order.
Any purchase that isn’t an everyday necessity, or anything that is more that about $50, we always talk about before purchasing. For the most part, we generally agree on what to spend our money on. Like many millennials, we value experiences, such as vacations and fun family outings, more than physical items.
When I tell you what category of items I am most tempted to spend money on, you’re probably going to laugh. I like to say that I have a “soft spot” for children’s toys. I just really enjoy buying fun, and especially educational, things for Little Buddy. For my birthday this year, I bought him a sandbox because I couldn’t come up with something that I wanted. But the vast majority of toys, I purchase used.
How do you approach finances? What do you like to spend money on?
Lauren
I don’t have children but I have two dogs. I use to spend most of my spending money on toys for them. Now I just rotate toys.
I would say currently I spend most of my money on used books. I love reading.
Marion B.
So you don’t earn ANY money from all the ads on your THREE blogs? I mean, that’s the only reason why you would ask this question. As I’m sure your blogs are monetized, the question surely becomes a moot point.
Ellie
We believe in the concept of oneness and that all our possessions are equally owned by each other, so even the money my husband makes is just as much mine as it is his. No matter who makes the money, we still ask each other before making large purchases.
MarriedUK
I agree with this totally and 100%. My husband makes a lot more money than I do but we both contribute to the home equally ie we both give our all to our family. We always discuss major purchases and listen to each other about everything- financial planning, eating habits, child rearing… etc.!
Sofia
I don’t understand this.
Regina
I admit I like to buy books mainly on either Biblical teachings or on classics. My husband and I do discuss what to spend money on and we will ask each other if we should buy such and such item.
Anonymous
When you get older, it’s more about spending money on “life” than on “things.” We have no debt – completely paid off cars, house, and credit cards – but it’s still expensive to keep the house in good repair, keep the cars in top shape, keep the yard looking nice, keep the taxes paid, keep the insurance up on everything, keep cable TV going, keep the phones on, keep food on the table, keep ourselves and the pets healthy, take an occasional trip…. Those are the kinds of things we spend our money on. We aren’t at the age where we need to buy furniture or clothes or household items. With one income during our marriage, there was no question about money – it was “ours” period. I always tried to keep us on budget and we always prioritized saving for the future through the programs offered at work. That has really paid off. Now our savings are working for us and funding our lives. Young people, don’t think that 65 is so far off that you don’t need to worry about it yet or save for it. Scrimp and save from the start! Savings snowball through the decades, and that’s how you make a comfortable retirement. Old Age can get expensive (nursing care), so be ready. I’m talking saving several million. It can be done. When we got married, we had $1000 and a car and that was it. We weathered everything life threw at us and made it to where we are now. Having lived through a week when we had $5 left in our wallets by Friday, we still give thought and respect to our spending.
Eileen
Your system is like mine and my husband’s, I do all the bill paying and finances as you do. All our money, mine and his, has always been in one pot. We too discuss purchases over a certain amount as we have a partnership in all aspects of our lives. My weakness for purchases: buying myself books, buying gifts for others, buying items for my husband.
Diana
We’re a couple, so we decide things together. We want to because we love and respect each other and value the other’s opinion and thoughts!
OhioMama
I handles the bills at my house. When it comes to spending money I ask my husband about stuff if I know it’s going to be expensive. Even though I have a job now I still talk to him and he still talks to me. The only time we don’t really discuss our spending is when it’s Christmas time.
Sarah
My husband and I handle money the same as you. I have a soft spot for buying books for my kids. I buy a lot of them used and focus on buying books we can’t get from the public library. My kids know to expect books for all holidays, celebrations and life achievements 🙂
Ellie
That’s a very educational soft spot! I very much approve. 🙂
Ann
I’m not married I don’t spend my money on anything. I get ebooks free from library.
Jessica
My husband handles the finances and pays all of the bills and such. He works at a bank so he does a good job at that sort of thing.
I do not have a paid job, but we do share the finances. If I need anything for our children or whatever I let him know and we get it together.
We discuss big purchases and all of that.
Leina
In our marriage everything is shared. I usually handle the finances, because it comes more natural to me to do the taxes etc. My soft spot is art. I love antique too. And going on trips. My mom was a single mom and never bought a home for herself. Couple of years ago she inherited some money when her mom died. I suggested that we use some of the money for a down payment of an apartment and we would help out and buy half of it, so that it would ease the financial burden. Now she can save some money and not have to use her money on rent. I was so glad that I have a sweet husband who happily agreed to help out my mom financially. It’s also and investment for us, so hopefully that apartment will be a blessing to us all. It’s the nicest place she has ever lived and it’s so close that our children can walk or ride their bikes to granma’s.
Anonymous
That’s so sweet! As a single mom who has never owned a home I can appreciate that.