Welcome ABCNews.com Money Matters viewers!
Thanks to Savings.com Daniel and I had the opportunity to do a an interview with ABCNews.com Money Matters on couples and finance. If you missed the interview you can watch the video the above. Also Daniel wrote out some tips below for everyone.
1. Communicate– You should plan a date night with your spouse at least 3 to 4 times a month. Even if it’s just a walk around the neighborhood. Alone time is very crucial to a happy marriage. You don’t have to spend a lot of money and it only takes 10 – 15 mins to talk about that week’s finances. Consistency is the key.
2. Write Down Goals- Before you attend date night set aside some time for yourself and write down your goals and dreams. If you can’t be open and honest with yourself, then you can’t be open and honest with your spouse.
3. Accountability – Be accountable to each other. Talk to your partner about overspending. This will help keep you on budget. Before making any financial decision whether big or small we talk it over first. If your spouse does go over the budget try to be positive in the criticism. Make sure you are not putting them down so they don’t get discouraged.
4. Figure out your individual strengths– It’s important to sit down and find out what each others weaknesses and strengths are and then play off those strengths.
5. Cash is King– Pay cash for everything when you can. For large purchases save up to make a big down payment. We currently have all of our credit cards paid off.
6. Spend Wisely – Look at your lifestyle and figure what small changes you can do to stretch your money further. For example. My wife saved over 15,000 in coupons 2008. Before we make purchases she goes online and researches all of her purchases. She uses sites like Savings.com for online coupon codes. You can actually follow her online as a Savings.com Deal pro.