compromise http://www.wisebread.com/taxonomy/term/12254/all en-US 6 Ways to Boost Your Partner's Bad Credit Without Risking Your Own http://www.wisebread.com/6-ways-to-boost-your-partners-bad-credit-without-risking-your-own <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-ways-to-boost-your-partners-bad-credit-without-risking-your-own" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/man_and_woman_home_budgeting_0.jpg" alt="Man and woman home budgeting" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>You can't help with whom you fall in love &mdash; and that's never more annoying than when the object of your affection has royally effed up their credit. Nobody's calling it quits over a few past financial mistakes, but the situation will need to improve if you two are planning a future together that includes buying a home, starting a business, or other major money-based life decisions.</p> <p>Since you're now in this together, you have a responsibility to do what you can to make sure you start your joint life on the right foot credit-wise. Here's how.</p> <h2>1. Help your partner review their credit report to flag and report errors</h2> <p>If your partner has terrible credit, it's likely that they don't know how to pull their credit report, flag errors, and report them to the appropriate authority to have them removed or updated. That's where your expertise (or even elementary knowledge) of how credit reports work comes in. Flagging and reporting credit errors is the first step in getting their situation back on track and under control. Once that's squared away, you can move on to the bigger issues. (See also: <a href="http://www.wisebread.com/how-to-read-a-credit-report?ref=seealso" target="_blank">How to Read a Credit Report</a>)</p> <h2>2. Provide positive reinforcement instead of bailing them out</h2> <p>It's easy to throw money at a problem to make it go away &mdash; especially if you have extra cash to spare and the person you love will benefit immensely from your generosity (at least in the short term). But I urge you to avoid opening your wallet to deal with your partner's bad credit. Instead, provide encouragement that they can manage their debt on their own.</p> <p>They created this situation, after all, and the only acceptable solution is that they work it out without your financial assistance. Help them in other areas, like navigating their credit report, but don't shill out dough to dig them out. The only thing they'll take away from that scenario is that you'll always be the sucker who pays for their poor judgment.</p> <h2>3. Establish a cash allowance that you'll both adhere to</h2> <p>You can't take your adult partner's credit cards from them (even though you might like to), so an easier-to-swallow solution is to jointly stop using credit and instead switch over to an all-cash budget. If they feel like you're both in this together, they'll be more willing to comply. You might have to make a few sacrifices along the way with your cards not available, sure. But if it helps condition your partner to spend and save smarter, forgoing the treat-yo'-self impulse buys you're used to will be worth it. (See also: <a href="http://www.wisebread.com/how-to-put-your-spouse-on-a-budget-without-ruining-your-marriage?ref=seealso" target="_blank">How to Put Your Spouse on a Budget Without Ruining Your Marriage</a>)</p> <h2>4. Brainstorm actionable ways they can start chipping away at their debt</h2> <p>Sit down together and come up with ideas about how your partner can start paying down their debt faster. That may involve asking for a raise at work; picking up a part-time job; working a few side gigs, like driving for a ride-sharing service and pet sitting; selling off unwanted or unused valuables; downsizing their lifestyle (maybe it's time to move in together so both of you can save?); and canceling all frivolous monthly expenses, like subscription services and memberships. (See also: <a href="http://www.wisebread.com/5-day-debt-reduction-plan-pay-it-off?ref=seealso" target="_blank">5-Day Debt Reduction Plan: Pay It Off</a>)</p> <h2>5. Schedule autopays on pay days</h2> <p>Help your partner set up auto-payments that coincide with their paydays so the money goes straight from their checking account to their debt accounts, leaving them little time to start a spending spree before handling their financial responsibilities. (See also: <a href="http://www.wisebread.com/5-ways-to-automate-your-finances?ref=seealso" target="_blank">5 Ways to Automate Your Finances</a>)</p> <p>If your partner doesn't like the idea of auto-paying bills, maybe they could get on board with a regular money meeting where you both sit down each week or month to discuss your budget and bills and make payments in each other's presence. It's a way to keep each other accountable, build trust, and establish good money behaviors. Either of these options will make sure the bills are getting paid on time.</p> <h2>6. Discuss secured credit card options</h2> <p>If your partner's credit score is weak, you can help improve it by encouraging them to open a <a href="http://www.wisebread.com/a-secured-credit-card-can-repair-your-credit-score-heres-how-to-pick-the-best?ref=internal" target="_blank">secured credit card</a>. Secured cards are fairly easy for anyone to get because the risk to the bank is low. That's because the cardholder puts down a deposit that's typically the same size as the credit limit (which will be low to begin with). If the cardholder defaults on the payments, the bank keeps their deposit.</p> <p>Secured cards are great for building credit because your payment activity is reported to the credit bureaus, just like any other credit card. &quot;After demonstrating consistent payment history, your credit score will steadily improve,&quot; says certified financial adviser Lou Haverty. &quot;You could consider applying for a regular credit card when your score is in the high 600 to low 700 range.&quot;</p> <p>I took my boyfriend to the bank to get a secured card after he moved in with me because I wanted him to start rebuilding his weak (but not necessarily bad) credit. This was an important step for us to take early on because I want him to have decent credit if we decide to buy a house together a few years down the road. Sometimes that's how long it takes, so there's no time like the present to start working the system. (See also: <a href="http://www.wisebread.com/the-5-best-secured-credit-cards?ref=seealso" target="_blank">The Best Secured Cards</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F6-ways-to-boost-your-partners-bad-credit-without-risking-your-own&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F6%2520Ways%2520to%2520Boost%2520Your%2520Partner%2527s%2520Bad%2520Credit%2520Without%2520Risking%2520Your%2520Own.jpg&amp;description=6%20Ways%20to%20Boost%20Your%20Partner's%20Bad%20Credit%20Without%20Risking%20Your%20Own"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/6%20Ways%20to%20Boost%20Your%20Partner%27s%20Bad%20Credit%20Without%20Risking%20Your%20Own.jpg" alt="6 Ways to Boost Your Partner's Bad Credit Without Risking Your Own" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/mikey-rox">Mikey Rox</a> of <a href="http://www.wisebread.com/6-ways-to-boost-your-partners-bad-credit-without-risking-your-own">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-bounce-back-from-a-bankruptcy">How to Bounce Back From a Bankruptcy</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-put-your-spouse-on-a-budget-without-ruining-your-marriage">How to Put Your Spouse on a Budget Without Ruining Your Marriage</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-money-moves-to-make-the-moment-you-decide-to-get-married">5 Money Moves to Make the Moment You Decide to Get Married</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/47-simple-ways-to-waste-money">47 Simple Ways To Waste Money</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-become-a-minimalist-with-your-money">How to Become a Minimalist With Your Money</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance allowances autopay budgeting cash compromise credit history credit score marriage secured credit cards spouse Tue, 08 May 2018 09:00:13 +0000 Mikey Rox 2136184 at http://www.wisebread.com 4 Ways Couples Can Tackle Money Goals Together http://www.wisebread.com/4-ways-couples-can-tackle-money-goals-together <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-ways-couples-can-tackle-money-goals-together" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/man_and_woman_home_budgeting.jpg" alt="Man and woman home budgeting" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>The &quot;relationship goals&quot; meme revolves around the idea that &mdash; at least in the world of social media &mdash; your relationship is envied by singles and mediocre couples everywhere. And whether you realize it or not, a big part of having a successful marriage and reaching that &quot;goals&quot; status is figuring out the financial aspect of your relationship.</p> <p>Money itself isn't a homewrecker. It's other issues &mdash; like communicating about money, your relationship with it, and your values associated with it &mdash; that cause problems. Establishing a strong money management system within your marriage can be tricky. Here are a few things you and your spouse can do to set and achieve financial goals as a couple.</p> <h2>Establish financial core values</h2> <p>Like it or not, your spending habits directly reflect your values. You say you want to save and get out of debt, yet you eat out five nights a week and upgrade to the latest gadget as soon as it hits the market, despite the cost. And while you may feel that lack of discipline is to blame &mdash; and it is to some degree &mdash; the truth is you don't value saving enough to actually do it.</p> <p>As a couple, you should sit down and write out the core values that will govern your lives together. Most of these values may not directly relate to money, but they all relate indirectly. For example, if you value open and honest communication, that should trickle down to your finances. You have to commit to communicating openly and honestly about spending habits, earnings, debts, etc. And you shouldn't &quot;hide&quot; money from one another.</p> <p>Be honest with your spouse and yourself when establishing your value system. Some things sound nice, but they may not be a part of your value system. And that's OK. If your spouse values something &mdash; such as saving &mdash; that you don't, be flexible and compromise a bit. The same is true if you have a &quot;spender&quot; spouse who values spending money on entertainment. You've got to give a little. You value what you value. There shouldn't be shame or judgment attached to it. The key is finding balance and learning how to get your spending habits to accurately reflect your value system. (See also: <a href="http://www.wisebread.com/8-things-i-learned-about-money-after-getting-married?ref=seealso" target="_blank">8 Things I Learned About Money After Getting Married</a>)</p> <h2>Have joint financial goals</h2> <p>The second thing you and your spouse should do is establish financial goals together. An easy way to do this is to look at your life goals &mdash; long- and short-term. Align your finances with those goals.</p> <p>As a couple, what do you want to accomplish? Do you want to retire early? Live a debt-free lifestyle? Have a small army of children? Travel the world? Care for aging parents? Start a business? Go on a second honeymoon? Once you've established your life goals, your money goals will emerge naturally. You and your spouse just have to fill in the details.</p> <p>How will you save to afford that Jamaican getaway? Will you get side gigs, cut back, or follow some other plan for saving? The key here is to align your financial goals with your life goals. And then work diligently to achieve them. (See also: <a href="http://www.wisebread.com/the-7-worst-money-mistakes-married-people-make?ref=seealso" target="_blank">The 7 Worst Money Mistakes Married People Make</a>)</p> <h2>Assign money management roles</h2> <p>After you've established your core values and set some financial goals, it's time to address the details of handling your money. A great way to relieve tension and help ease the financial power struggle is to assign money management roles within your marriage.</p> <p>One of the best things about marriage is that you have a teammate. In most marriages, one spouse enjoys certain activities, while the other spouse doesn't. One may be a cleaner and the other one loves to cook. One loves yard work and the other is a decorator. One may be a planner and the other one likes to live spontaneously. The point here is to make the most of each other's strengths and preferences.</p> <p>Assigning roles and tag-teaming your finances is a great way to make each other feel valued and quickly accomplish your money goals. If you are a shopper and your spouse loves to budget, allow them to manipulate the numbers while you make it work in the grocery store. Both tasks are equally important. Shopping &mdash; which is different from just buying stuff &mdash; is an underrated skill. Budgeting, saving, and shrewd shopping are the trifecta of good financial stewardship and will accelerate your journey to achieving your financial goals. (See also: <a href="http://www.wisebread.com/3-simple-ways-to-split-bills-with-your-spouse?ref=seealso" target="_blank">3 Simple Ways to Split Bills With Your Spouse</a>)</p> <h2>Have at least one joint account</h2> <p>Having a joint bank account is more intimate than sex for some couples. It's a big step and the ultimate sign of trust. It puts you in a place of vulnerability. And being that vulnerable can be tough.</p> <p>The key is to take baby steps toward your goal of sharing the same account. It begins in your own mind. Examine fears, perceptions, and past experiences that have left you skittish in this area. See what you can do to talk yourself into being open to the idea.</p> <p>Once you're open to the idea, it's time to engage in honest communication about it. It can be a very difficult subject, but you have to have the conversation.</p> <p>Once you've heard each other's fears and misgivings, you can move forward and establish ground rules and procedures. You could create an account together just to pay bills or strictly for saving. See how that goes and move forward from there. There is no one-size approach to mixing love and money, but you do have to be open-minded and at least give your partner an opportunity to earn your financial trust.</p> <p>Sharing an account can do wonders for your marriage and help you reach your financial goals much quicker. When done correctly, it creates an atmosphere of transparency and accountability. It also promotes the team concept.</p> <p>If you've established your core values, established long- and short-term financial goals, and have clear roles, making the step to sharing an account will be much easier. Again, this is a difficult bridge to cross for a lot of couples. Remain patient with yourself and with your spouse. And do what is best for your marriage and situation. (See also: <a href="http://www.wisebread.com/6-things-you-should-know-about-joint-checking-accounts?ref=seealso" target="_blank">6 Things You Should Know About Joint Checking Accounts</a>)</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F4-ways-couples-can-tackle-money-goals-together&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F4%2520Ways%2520Couples%2520Can%2520Tackle%2520Money%2520Goals%2520Together.jpg&amp;description=4%20Ways%20Couples%20Can%20Tackle%20Money%20Goals%20Together"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/4%20Ways%20Couples%20Can%20Tackle%20Money%20Goals%20Together.jpg" alt="4 Ways Couples Can Tackle Money Goals Together" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/denise-hill">Denise Hill</a> of <a href="http://www.wisebread.com/4-ways-couples-can-tackle-money-goals-together">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-simple-ways-to-split-bills-with-your-spouse">3 Simple Ways to Split Bills With Your Spouse</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-to-boost-your-partners-bad-credit-without-risking-your-own">6 Ways to Boost Your Partner&#039;s Bad Credit Without Risking Your Own</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-things-i-learned-about-money-after-getting-married">8 Things I Learned About Money After Getting Married</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/what-you-need-to-know-about-divorce-and-credit">What You Need to Know About Divorce and Credit</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-reasons-taking-a-loan-for-your-wedding-is-a-bad-idea">3 Reasons Taking a Loan For Your Wedding Is a Bad Idea</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance communication compromise joint accounts marriage money goals roles spouses values Wed, 02 May 2018 09:00:08 +0000 Denise Hill 2133548 at http://www.wisebread.com 5 Money Mistakes Couples Who Live Together Might Make After a Breakup http://www.wisebread.com/5-money-mistakes-couples-who-live-together-might-make-after-a-breakup <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-money-mistakes-couples-who-live-together-might-make-after-a-breakup" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/young_couple_take_broken_heart.jpg" alt="Young couple take broken heart" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Neil Sedaka made a massive understatement when he sang, &quot;Breaking up is hard to do.&quot; Of course, Sedaka was referring to the heartbreak that comes from calling it quits with your significant other, but that is not the only tough aspect of ending a relationship. Breakups can also be financially costly for the partners as they figure out how to move on, especially if they've been living together.</p> <p>While married couples can rely on the rules spelled out by divorce laws to protect themselves financially, unmarried couples don't have the same luxury. It is up to you to protect yourself when your live-in relationship goes south.</p> <p>Here are the common financial mistakes you might make post-breakup &mdash; and how to avoid them.</p> <h2>1. Forgetting your financial responsibilities while you recover</h2> <p>The easiest mistake to make after a heartbreak is to ignore the important tasks while you recover. While you are busy watching <em>Dirty Dancing</em> on an endless loop and eating your feelings, you might not notice that your bills are piling up. Creditors don't care that your heart is shattered. They expect to be paid on time, no matter how you are feeling.</p> <p>Setting up <a href="http://www.wisebread.com/11-reasons-why-you-must-use-bill-reminders" target="_blank">billing alerts</a> can help you to keep your finances in order even while you are in the middle of your heartbreak. Sign up for text message or email alerts so you don't have to rely on your memory to stay on top of your finances. This will ensure that your broken heart doesn't also lead to a destroyed credit rating.</p> <h2>2. Not agreeing on how to sell the house you bought together</h2> <p>You bought the house together when you assumed the relationship was forever &mdash; and now you are broken up. If you did not draw up a joint house ownership agreement at the time of the home purchase, it could be difficult for you and your ex to determine a fair division of the home. This can be particularly difficult if one partner believes he or she owns a larger share of the home after contributing money to the down payment or labor toward home renovation or maintenance.</p> <p>This kind of disagreement can result in long, drawn-out legal fights, so it's in your best interests to compromise with your ex. Assign a dollar figure to each partner's contributions, including things like the down payment, mortgage payments, labor, and other improvements. This will help you better understand each partner's stake in the house.</p> <p>Once you have come to an agreement on that, one partner can buy out the other's interest in the home, or you can sell the house to a third party and split the proceeds.</p> <p>It is generally cheaper for one partner to buy out the other, since you will avoid closing costs and other costs associated with a market sale. However, there are further complications to expect if you buy out your partner, such as deciding on a fair price, figuring out if the selling partner's name will need to remain on the mortgage until the buying partner qualifies for a new mortgage, and transferring the title.</p> <h2>3. Forgetting to pay the bills your ex took care of</h2> <p>Every couple has a different system for handling shared expenses. Whether you split every bill down the middle or you each took care of different bills, it's important to make sure you are aware of which accounts your ex took care of. If you find yourself unable to access a shared utility bill because your former sweetheart still has the passwords, you could risk anything from having the utility turned off to potentially losing your good credit rating if the account is in your name.</p> <p>This is why you need to keep an eye on all shared expenses with your live-in lover, including passwords, contact information, and a tally of who pays for which services. If you find yourself broken up and without that information, it's better to have a chilly conversation with your ex to get the important details than to let your finances take the hit.</p> <h2>4. Not removing your ex's name from shared accounts</h2> <p>Sharing accounts is a natural extension of living together. You might have shared credit cards, utilities, or even a bank account from when you were living under the same roof.</p> <p>But neglecting to remove your ex from these shared accounts can potentially put you at risk. Even if you're certain your old partner isn't the sort of person to exact financial revenge on you, it's better to take your ex's name off any shared accounts and change the passwords. It wouldn't be the first time that someone shows his or her true colors after a breakup.</p> <h2>5. Fighting over shared items</h2> <p>You bought the dining room table, the computer, and the Xbox together, and you can't decide who gets what. And then there's Roscoe the dog, who neither of you can imagine living without. How do you determine who gets custody of what in your split?</p> <p>Under ideal circumstances, you and your ex will be able to decide who gets which shared items based on who bought or most uses the item. If your ex is the one who hosts all the dinner parties and you are the one who is up walking Roscoe every morning at 6 a.m., it should be obvious which item should go with which partner. Of course, it's not always so easy, and sometimes you end up fighting over your things.</p> <p>If you can't stop arguing about who gets what, consider taking the issue to mediation. In this process, you and your ex go to a neutral third party who will help you hammer out the details of who gets what.</p> <p>In really tough cases, court proceedings can be a last resort to help you solve the question of which items belong to which partner.</p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F5-money-mistakes-couples-who-live-together-might-make-after-a-breakup&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F5%2520Money%2520Mistakes%2520Couples%2520Who%2520Live%2520Together%2520Might%2520Make%2520After%2520a%2520Breakup.jpg&amp;description=5%20Money%20Mistakes%20Couples%20Who%20Live%20Together%20Might%20Make%20After%20a%20Breakup"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/5%20Money%20Mistakes%20Couples%20Who%20Live%20Together%20Might%20Make%20After%20a%20Breakup.jpg" alt="5 Money Mistakes Couples Who Live Together Might Make After a Breakup" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/5-money-mistakes-couples-who-live-together-might-make-after-a-breakup">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-protect-yourself-financially-during-a-divorce-or-separation">How to Protect Yourself Financially During a Divorce or Separation</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/why-you-need-to-know-the-difference-between-secured-and-unsecured-debts">Why You Need to Know the Difference Between Secured and Unsecured Debts</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-liabilities-that-will-ruin-your-net-worth">7 Liabilities That Will Ruin Your Net Worth</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-put-your-spouse-on-a-budget-without-ruining-your-marriage">How to Put Your Spouse on a Budget Without Ruining Your Marriage</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-tips-on-what-to-do-before-moving-in-together">5 Tips on What to Do Before Moving in Together</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance assets bills breaking up compromise legal matters living together relationships shared expenses splitting up Fri, 06 Oct 2017 08:00:07 +0000 Emily Guy Birken 2031343 at http://www.wisebread.com How to Put Your Spouse on a Budget Without Ruining Your Marriage http://www.wisebread.com/how-to-put-your-spouse-on-a-budget-without-ruining-your-marriage <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-put-your-spouse-on-a-budget-without-ruining-your-marriage" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/husband_wife_high_five_91622835.jpg" alt="Woman putting her spouse on a budget without ruining marriage" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>The quickest way to sour a marriage is to nag your spouse about money and try to control every cent they spend. However, keeping mum about your finances can lead you and your spouse into a lot of debt or overall poor finances. Here are ways to get your spouse on a budget, without ruining your marriage.</p> <h2>Counseling Is Okay!</h2> <p>Many couples make the mistake in thinking that marriage counseling is only for marriages that are in trouble. However, counseling can be a helpful tool even when your marriage is healthy. Having a mediator help you navigate financial woes can even be desirable, so that both you and your spouse feel like they are heard.</p> <p>To seek out counseling for your finances within marriage, you can talk with a financial adviser that has your best interest in mind, a marriage and family therapist, a pastor, or even an older couple who you consider wise and financially stable. It might seem embarrassing to reach out for help, but it could be the wisest step to keeping your marriage and finances strong.</p> <h2>Set Up Budget Dates</h2> <p>Just as you would set up regular date nights, set up monthly budget dates. Treat your spouse to their favorite coffee drink and discuss the numbers for the month, as well as goals for the next month.</p> <p>Budget dates should not be a time where you point the finger. It should be a time for mutual discussion and growth. Depending on which financial area your spouse is in charge of, ask for their feedback. For example, if your spouse does the grocery shopping, did they feel like they had enough money that month or was it too tight? If your spouse is requesting more money for the grocery budget, you can decide together what to cut to accommodate.</p> <p>Sometimes it is a good idea to invite your children to these meetings, especially if they are older than 10. Kids need to see the &quot;why&quot; behind the reasons they can't go to camp all summer long or get everything they want. Also, allowing your kids see and experience how you budget successfully only sets them up for budgeting success later on.</p> <p>See also: <a href="http://www.wisebread.com/8-things-i-learned-about-money-after-getting-married?ref=seealso">8 Things I Learned About Money After Getting Married</a></p> <h2>Find What Inspires Them</h2> <p>Sometimes it can be hard to scrimp and sacrifice just for the sake of saving money. We all need a purpose to have the motivation to work at something. Whether it's for the dream vacation or just finally being able to live debt-free, find the goals that both of you want to achieve and set the budget that will make it happen. Show that if you both tighten up your spending and stay the course, the reward will be waiting at the finish line.</p> <h2>Keep Things Fun</h2> <p>Find ways to lighten things up and make staying on budget fun, so it doesn't get tedious or simply boring. You don't have to wait until you've saved enough for the dream vacation to enjoy a reward for your hard work. Add milestones along the way that allow the two of you to celebrate. Turn it into a game to see who can find the best deals or other challenges that keep both of you interested. Don't forget about creative ways to make extra money, too. Perhaps you two can do something together that will earn extra cash.</p> <h2>Practical Tips to Get Your Spouse on a Budget</h2> <p>So far, the marriage budgeting tips have been about the mentality behind savings. Once you get your spouse on board with your budget, then use these practical tips to stay successful.</p> <ul> <li>Budget for you and your spouse to have &quot;mad money&quot; each month. This can be $25 or $500, depending on your budget. However, this money can be spent however your spouse wants. This allows both of you to spend on yourselves without guilt.<br /> &nbsp;</li> <li>Use an easy-to-use budgeting app that connects to your accounts and syncs with each of your phones. Encourage your spouse to look at it and track spending daily.<br /> &nbsp;</li> <li>Have savings taken out automatically. If you wait until the end of the month to put money into savings, you might find you end up short each month. Make savings a priority or take advantage of debit cards that round up purchases and deposit the extra into your savings account.<br /> &nbsp;</li> <li>Stop using credit cards if they are too hard to control. Taking them away for a few months can help you get back on track.</li> </ul> <h2>Separate Accounts</h2> <p>Separate accounts can be useful for managing expenses and ensuring there's no opportunity to overdraw for a budget. If you split the financial responsibilities of a household, it makes sense to manage your own accounts for your assigned budgets. Just make sure there's accountability and transparency.</p> <p>Marriage is hard, and budgeting is just as difficult. Put them both together, and you could have a recipe for disaster. It's important to be open and honest so that you don't end up in a financial disaster.</p> <p><em>How do you and your spouse stay on a budget?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-eneriz">Ashley Eneriz</a> of <a href="http://www.wisebread.com/how-to-put-your-spouse-on-a-budget-without-ruining-your-marriage">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-6"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-money-moves-to-make-the-moment-you-decide-to-get-married">5 Money Moves to Make the Moment You Decide to Get Married</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-to-boost-your-partners-bad-credit-without-risking-your-own">6 Ways to Boost Your Partner&#039;s Bad Credit Without Risking Your Own</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-things-i-learned-about-money-after-getting-married">8 Things I Learned About Money After Getting Married</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-protect-yourself-financially-during-a-divorce-or-separation">How to Protect Yourself Financially During a Divorce or Separation</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-money-fights-married-couples-have-and-how-to-avoid-them">4 Money Fights Married Couples Have (And How to Avoid Them)</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Budgeting Family agreements bank accounts compromise counseling marriage paying bills relationships spending spouse teamwork Tue, 09 Aug 2016 09:00:09 +0000 Ashley Eneriz 1767118 at http://www.wisebread.com 5 Money Moves to Make the Moment You Decide to Get Married http://www.wisebread.com/5-money-moves-to-make-the-moment-you-decide-to-get-married <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-money-moves-to-make-the-moment-you-decide-to-get-married" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/friends_hands_heart_29104258.jpg" alt="Couple making money moves when they decide to get married" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>There is nothing more romantic than the giddy days after you ask your sweetheart to marry you. But now is also the perfect time to start preparing for one of the most important aspects of a successful marriage: money.</p> <p>Before you groan that bringing money into the marriage equation is going to be the death of romance, remember that money problems are cited as one of the top reasons for divorce, just behind infidelity and communication issues. If promising fidelity and good communication aren't romance-killers, then preparing financially shouldn't be one, either. (See also: <a href="http://www.wisebread.com/8-signs-youre-committing-financial-infidelity?ref=seealso">8 Signs You're Committing Financial Infidelity</a>)</p> <p>Here are the top five money moves you and your betrothed should make the moment you decide to get married:</p> <h2>1. Share Your Money Backgrounds</h2> <p>Just as you and your fiancé should know about each other's health, family, romantic, and work backgrounds, it's important that you share financial backgrounds with each other. This starts with the obvious, such as outstanding debts and current assets. It's not possible to move forward financially as a couple if you don't already know where you are &mdash; and keeping financial secrets from each other is an emotionally dangerous way to begin a marriage.</p> <p>But understanding each other's money background also includes knowing how you each think and feel about money. The way you view money is generally unconscious and tied to how you feel about everything from relationships to success. It's a good idea to recognize the way you and your spouse-to-be differ in those unconscious beliefs. In particular, start by answering the following questions, suggested by Terri Orbuch, marriage and family therapist and author of <a href="http://amzn.to/29GqG5o">5 Simple Steps to Take Your Marriage from Good to Great</a>:</p> <ul> <li>How did your parents deal with money growing up?<br /> &nbsp;</li> <li>What did money mean to you (and your parents) when you were growing up?<br /> &nbsp;</li> <li>How have you dealt with money in previous relationships?</li> </ul> <p>Your answers can both illuminate attitudes you may not realize you carried, and help you understand where to expect (and prepare for) potential financial friction in your marriage.</p> <h2>2. Start a Wedding Fund</h2> <p>A wedding is a joyous event, but the finances can create some complications. This dynamic can get even more pronounced when the extended family is paying for some portion of the wedding.</p> <p>To minimize this friction, create a wedding fund, and transfer money to it regularly.</p> <p>This will help you create the financial freedom necessary to say no to those who attach strings to wedding money.</p> <p>In addition, it's easier to keep a saving habit than it is to start one. So once you're home from the honeymoon, you can just change the name of your wedding fund to your house fund (or start sending the money to your retirement accounts) and keep the regular saving habit in place.</p> <h2>3. Set Financial Ground Rules</h2> <p>There are few couples in the world who aren't driven a little crazy by each other's financial habits. For instance, my husband tends to splurge on himself with large purchases about once or twice a year, whereas I tend to make smaller purchases for myself two to three times a month. Even though he is spending several hundred dollars on a video game system and I am spending $15 here and $20 there on books or manicures, the amount we each spend is pretty equal. But when we first got married, each one of us thought the other was being frivolous with money.</p> <p>The thing is, neither one of us was wrong (even though we each took turns trying to prove the other one was completely misguided, which worked about as well as you could expect). We just had different expectations for fun money.</p> <p>What helped was for us to set up financial ground rules. We each have a certain amount of splurge money that is ours alone. As long as we are spending from that splurge money and not dipping into shared funds, then we can splurge on whatever we like.</p> <p>Financial ground rules allow you to both feel comfortable within the framework of your finances. You might also set rules on spending thresholds over which you have to discuss issues before spending the money, or how you might use joint accounts.</p> <h2>4. Think About Worst-Case Scenarios</h2> <p>Marriage is a common time for people to acquire or update their life insurance and wills. These are important to have in place in order to protect yourself and your spouse in case life takes a turn you don't expect. Whether you don't yet have life insurance or a will, or you need to change your beneficiary to your spouse. Taking the time to make sure these documents are thoroughly completed, updated, and signed can give you both some peace of mind.</p> <p>But there are other scenarios you might want to prepare for. Getting adequate renter's or homeowner's insurance is always a great idea. It's also worth talking with your spouse-to-be about a prenuptial agreement. Unless you're both hollering &quot;We want prenup!&quot; such conversations can be pretty difficult to broach. But the issues you would hammer out in a prenuptial are important to discuss before you get married, even if you are not couching them in terms of what would happen if you divorce. According to Mandi Woodruff, writing for Business Insider, there are typically <a href="http://www.businessinsider.com/10-ways-to-bring-up-a-prenup-without-getting-dumped-2012-1?op=1">five pillars to every prenuptial</a>:</p> <p>&quot;How to handle the income each partner makes before marriage, how to handle your prior assets (businesses, homes, etc.) and liabilities (such as student loans), division of property acquired during the marriage, your retirement plans, and how you'll handle spousal support.&quot;</p> <p>Discussing these issues in terms of both an estate plan and a prenuptial agreement is an important part of planning the financial side of your marriage together.</p> <h2>5. Adopt a Team Mentality</h2> <p>One of the best ways to build a strong financial foundation for your marriage is to adopt a team mentality for your money. It can be very easy to see money as &quot;yours&quot; and &quot;mine,&quot; particularly if you have each been out on your own for a while. But keeping your money separate in your mind can be the first step toward bean counting and money fights. This is especially true if you have varying income levels or different money priorities.</p> <p>Getting on the same team financially means seeing money as something you share &mdash; which means that you also share your decisions about money.</p> <p>There are many ways to adopt a team mentality, from mingling all funds into a joint checking account to setting up a yours-mine-and-ours system. But the important thing is to recognize that you are in the same financial boat and to treat the majority of your money as shared.</p> <p>Marriage and money go hand-in-hand, and taking the time before you wed to discuss finance is an investment in your long and happy married life.</p> <p><em>What money moves did you make to prepare for marriage?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/5-money-moves-to-make-the-moment-you-decide-to-get-married">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-put-your-spouse-on-a-budget-without-ruining-your-marriage">How to Put Your Spouse on a Budget Without Ruining Your Marriage</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-to-boost-your-partners-bad-credit-without-risking-your-own">6 Ways to Boost Your Partner&#039;s Bad Credit Without Risking Your Own</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-build-financial-stability-after-divorce">How to Build Financial Stability After Divorce</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-reasons-taking-a-loan-for-your-wedding-is-a-bad-idea">3 Reasons Taking a Loan For Your Wedding Is a Bad Idea</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-simple-ways-to-split-bills-with-your-spouse">3 Simple Ways to Split Bills With Your Spouse</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Lifestyle agreements compromise ground rules marriage money matters saving spouse weddings Mon, 18 Jul 2016 10:30:12 +0000 Emily Guy Birken 1753206 at http://www.wisebread.com A Beginner’s Guide to Frugal Living http://www.wisebread.com/a-beginner-s-guide-to-frugal-living <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/a-beginner-s-guide-to-frugal-living" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/holding_starbucks_cup_0.jpg" alt="Woman holding Starbucks mug" title="Woman holding Starbucks mug" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>I don&rsquo;t do frugal living perfectly. There are times (usually around 8:00 a.m. on a Monday) when I cannot be stopped from my single-minded march toward Starbucks. At other times, I willfully disregard everything I know about paying retail and (albeit begrudgingly) fork over $75 for a pair of jeans. Still, I consider myself a pretty frugal guy. The broad brushstrokes of my life are characterized by financial decisions that are well-considered and based on clear financial goals.</p> <p>If you&rsquo;re new to frugal living, fear not. Most of us are still learning, and we can all be tempted to veer off track at times. For the newbies out there, here are seven principles to keep in mind as you enter the ranks of the frugal &mdash; it&rsquo;s a sort of beginner&rsquo;s guide that we&rsquo;ve all had to learn (and often, relearn). (See also: <a href="http://www.wisebread.com/the-two-biggest-mistakes-people-make-when-starting-to-live-frugally">The Two Biggest Mistakes People Make When Starting to Live Frugally</a>)</p> <h2>1. Pace Yourself</h2> <p>Adopting a simpler and more frugal lifestyle can take a bit of practice. Embrace it by degrees. Diving in and cutting your monthly budget by 50% all at once will only be a shock to your system and leave the entire family feeling pinched and resentful. It takes time to phase out unnecessary expenses and gradually redirect your resources to align with your goals.</p> <h2>2. Understand Your Goals</h2> <p>Saving money in and of itself may be a worthy enough goal. After all, we all know we&rsquo;ll need it &mdash; we just may not yet know when or why. But a smarter, more motivating approach is to understand specifically why you&rsquo;re saving. Is it for an earlier and more comfortable retirement? To start your own business? To finally pay off the mortgage? To just sleep better at night? Having a &ldquo;vision&rdquo; for your financial life will help drive your frugal choices.</p> <h2>3. Get on the Same Page</h2> <p>For couples or families, no financial decision is made in a vacuum. Make sure your significant other is as committed to reinventing your financial life as you are. Reach a common goal or set of goals and understand what changes and sacrifices are needed from each person. Encourage each other and redirect each other when necessary.</p> <h2>4. Sacrifice &mdash; Selectively</h2> <p>Living a frugal lifestyle doesn&rsquo;t mean saying &ldquo;no&rdquo; to everything. Rather, successful frugality means understanding your priorities so that the &ldquo;yeses&rdquo; are aligned with your priorities. It&rsquo;s still okay to indulge from time-to-time,&nbsp; and it&rsquo;s still okay to splurge because those moments are balanced by an overall money management style that is driven by clear boundaries. Feel like a lunch out on a Friday? Go for it. You can because you&rsquo;ve brown-bagged it every other day of the week.</p> <h2>5. Don&rsquo;t Over-Budget</h2> <p>The idea of planning, creating, and sticking to a budget gets a lot of airtime. But categorizing and budgeting every dollar that comes in the door might not be the best strategy. This approach can sometimes give frugality a bad name &mdash; it fosters the idea that frugal living means constant number-crunching and long sleepless nights hunched over a calculator. A far simpler approach is to simply pay yourself first and live off what&rsquo;s left. Determine an assertive savings rate (subject to change as your skill level increases) and have that money funneled into a savings account, retirement account, or money market. The money that&rsquo;s remaining will be stretched and redistributed as-needed to cover expenses &mdash; often without hours and hours of conscious effort.</p> <h2>6. Make Mistakes</h2> <p>Living a more conscious financial life is a lot like dieting. You&rsquo;ll have good days, and you&rsquo;ll have those chocolate cupcake slip-up days. Don&rsquo;t let the little bumps and short-comings along the way derail you. Understand that <a href="http://www.wisebread.com/how-to-learn-from-your-mistakes">mistakes</a> and missteps are part of the learning process. They will fade away as your skill level grows and as frugality becomes second nature.</p> <h2>7. Chart and Reward Success</h2> <p>Adults need gold stars too. The most successfully frugal people I know monitor how they&rsquo;re doing from month-to-month and from year-to-year. They become motivated by successes like <a href="http://www.wisebread.com/how-much-does-your-credit-card-debt-cost-you">paying off credit cards</a>, paying down mortgages, and watching their bank account balances grow. The rush of seeing their efforts pay off has replaced the high they used to get from spending mindlessly and acquiring more stuff. Financial milestones acknowledged and celebrated as the truly special occasions they are.</p> <p>There you have it &mdash; the seven principles that will lead you to a more frugal lifestyle. More importantly, these ideas will help make frugality a permanent part of your life, instead of something you dive in and out of as your fortunes change. Embrace the success of it. Embrace the failures. Embrace the road that gets you where you want to go.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kentin-waits">Kentin Waits</a> of <a href="http://www.wisebread.com/a-beginner-s-guide-to-frugal-living">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-5"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/what-i-wish-i-had-known-when-i-started-living-frugally">What I Wish I Had Known When I Started Living Frugally</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-deal-with-reverse-culture-shock-when-returning-home">How to Deal With Reverse Culture Shock When Returning Home</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/youth-and-money-finding-the-frugal-balance">Youth and Money: Finding the Frugal Balance</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/a-step-by-step-guide-for-when-friends-ask-for-help-being-frugal">A Step-by-Step Guide for When Friends Ask for Help Being Frugal</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-money-moves-to-make-the-moment-you-decide-to-get-married">5 Money Moves to Make the Moment You Decide to Get Married</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle beginning frugality compromise how to Fri, 16 Dec 2011 11:36:17 +0000 Kentin Waits 825562 at http://www.wisebread.com 12 Frugal Compromises http://www.wisebread.com/12-frugal-compromises <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/12-frugal-compromises" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/subway_ride.jpg" alt="Woman waiting for subway" title="Woman waiting for subway" class="imagecache imagecache-250w" width="250" height="158" /></a> </div> </div> </div> <p>When we talk about frugality, it can be easy to get into an &quot;all or nothing&quot; mentality. Our two options are to eat a big meal out or cook at home. To have a lot of stuff or pare down all of our possessions to the very basics. But the reality is that there are a lot of savings compromises that can be made &mdash; frugal things you can do that, while they may not save you as much money as other efforts, might also save you time, make you happier, or make your life easier. Here are 12 frugal compromises to consider. (See also: <a href="http://www.wisebread.com/how-to-agree-without-compromise">How to Agree Without Compromise</a>)</p> <h3>1. Buy Part of Your Meal Already Prepared</h3> <p>If you're running short on time, buy part of your meal already prepared and cook the rest. Rotisserie chickens are especially popular for this, but also consider things like side salads, bread, dessert, or even a pizza that you could pair with a salad.</p> <h3>2. Hire Moving Helpers</h3> <p>One way that I've come to define adulthood is owning furniture that I cannot conceivably move on my own. But instead of booking movers for my most recent move, I simply rented a U-Haul and hired moving helpers for two hours to load and unload the items I could not carry myself. I saved at least $150 over hiring movers (maybe more &mdash; the estimates I received were in the very broad range of $350 to $900!), and I didn't have to worry about being unable to rally strong friends ot help with the heaviest items.</p> <h3>3. Meet Somewhere Cheap for Dinner</h3> <p>Going out to eat doesn't need to be a fancy affair. Meet at a diner, sandwich shop, or somewhere else that's not too expensive.</p> <h3>4. Buy New Accessories</h3> <p>Add pizazz to your wardrobe with tights, a brightly colored belt, chunky necklace, or other inexpensive statement accessories.</p> <h3>5. Drink Cheap Beer...or Just One Nice Beverage</h3> <p>Personally, I go back and forth on cheap beer &mdash; I'm not above (and, especially on hot days, legitimately enjoy) beers like <a href="http://www.wisebread.com/all-we-are-sayingis-give-pabst-a-chance">PBR</a> and Corona. But I also appreciate a well-crafted cocktail. The trick when ordering a fancy drink is to keep it to just one.</p> <h3>6. Hire a Cleaner Once a Month</h3> <p>Save time on house cleaning by hiring a house cleaner to do a deep clean once a month. You'll only need to do the more surface-level, day-to-day cleaning.</p> <h3>7. Don't Take the Car...Sometimes</h3> <p>All of the &quot;take public transit&quot; yammering can get old if you need to have your car for work, family, or other reasons. But you don't have to take your car all the time. Save on gas, parking, and wear and tear by carpooling, taking public transit, walking, or biking.</p> <h3>8. Get Takeout Instead of Delivery</h3> <p>When you get food delivered, you should give the driver a full tip (seriously...please tip the driver). But if you pick up takeout yourself, all you need to pay for is the food, plus maybe a buck or two.</p> <h3>9. Rearrange the Furniture and Buy One New Thing</h3> <p>Give a room in your house new life by rearranging the furniture and buying one new thing &mdash; art, a rug, a lamp, a slipcover, or even a small piece of furniture &mdash; to tie the new scheme together.</p> <h3>10. Have a Coffee Treat Day</h3> <p>By now, most of us have heard about the &quot;<a href="http://www.wisebread.com/3-reasons-why-keeping-your-latte-factor-will-help-you-save-money">latte factor</a>&quot; &mdash; the idea that small savings, like making coffee at home, can really add up. But you don't need to do it every day. Choose a coffee treat day for yourself when you'll get a coffee from the coffee shop &mdash; whether it's to ease yourself into the workweek on Monday or treat yourself for making it through on Friday.</p> <h3>11. Trim Your Own Bangs</h3> <p>If you have the skills to fully cut your own hair, by all means do it. (I cut my own hair for several years, although it left me for a bit with a style that could only be worn one way and could occasionally be described as &quot;proto-mullet.&quot;) But even if you're a klutz with scissors, it's probably within your power to give your bangs a trim, extending the time between haircuts.</p> <h3>12. Use Disposables Alongside Reusables</h3> <p>Doing all of your cleaning with paper towels or all of your food storage in one-time-use bags is just wasteful. But sometimes those tools are helpful, which is why I fully believe that disposable zipper-lock bags can live in harmony with your use-again Tupperware, just as paper towels have their time and place in conjunction with rags.</p> <p><em>What are your favorite frugal compromises?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/meg-favreau">Meg Favreau</a> of <a href="http://www.wisebread.com/12-frugal-compromises">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-51-easy-ways-to-live-a-happier-life">Flashback Friday: 51 Easy Ways to Live a Happier Life</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/are-you-frugal-or-cheap">Are You Frugal or Cheap?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-life-hacks-for-college-students-or-anyone-else-trying-to-save-money">15 Life Hacks for College Students (or Anyone Else Trying to Save Money)</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/pay-attention">Pay attention</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/a-prairie-farmer-s-meal-plan-eat-for-a-buck-or-two-a-day">A Prairie Farmer’s Meal Plan: Eat for a Buck or Two a Day</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Cheap Food cheap treats compromise happiness save time Tue, 06 Sep 2011 10:24:19 +0000 Meg Favreau 691078 at http://www.wisebread.com How to Agree without Compromise http://www.wisebread.com/how-to-agree-without-compromise <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-agree-without-compromise" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/couple smiling.jpg" alt="couple smiling" title="couple smiling" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>June is a popular month for weddings. During this time, many couples will probably hear that compromise is the key to a healthy relationship. I disagree.</p> <p>When my husband and I got <a href="http://www.wisebread.com/how-to-be-happy-and-married-24-tips-from-a-24-year-old-marriage">married more than 25 years ago</a>, we talked about compromise. We didn&rsquo;t actually compromise, but we talked about what the word meant and mostly, I talked about why I believed that compromise was, very often, a lousy idea.</p> <p>I tend to take things literally and many of the dictionary definitions aren&rsquo;t promising in terms of personal and relationship well-being (see <a href="http://www.thefreedictionary.com/compromise">com&middot;pro&middot;mise</a> from the American Heritage Dictionary):</p> <ul> <li>To expose or make liable to danger, suspicion, or disrepute</li> <li>To reduce in quality, value, or degree; weaken or lower</li> <li>To impair by disease or injury</li> <li>To settle by mutual concessions</li> </ul> <p>&ldquo;To settle by mutual concessions&rdquo; is, I hope, what most people are thinking of when they expound the benefits of compromise, though I weigh in the negative connotations. Reaching an agreement by meeting halfway isn&rsquo;t always possible or advisable.</p> <p>Taking turns is one tactic for compromising. Sure, if one person wants to have Italian for dinner and the other wants Chinese, you can cook your own meals separately, arrange take-out and eat at home, or you could eat Chinese tonight and get Italian next time. But this method can be disastrous when circumstances change (as they will) and whoever should have the next turn doesn&rsquo;t get to choose.</p> <p>And, what&rsquo;s an appropriate compromise if:</p> <ul> <li>She wants to live in New York but he wants to stay in LA. Do you choose Chicago?</li> <li>He wants to start a family; she doesn&rsquo;t want children. Do you babysit your nieces and nephews on weekends? Do you become foster parents?</li> <li>She thinks that putting money into a surefire (translation: risky) investment is the perfect solution to money problems but he disagrees. Do you put 50% in the investment and 50% in a savings account?</li> </ul> <p>Maybe, I&rsquo;m just bad at finding mutual concessions. But sometimes doing the right thing doesn&rsquo;t mean each person gets a half-win, half-lose solution.</p> <p>Before making a commitment, some issues ought to be discussed. If one person never wants children, then the other needs to have this information to make a decision about whether to continue the relationship. The idea is to consider and express what&rsquo;s truly important to you, not find a way to control your partner.</p> <p>Look beyond superficial solutions. Drill down to the core of the problem. Discover motivations. Talk about your reasoning. Tell childhood dreams and lifelong insecurities. Once spoken, fears may seem unwarranted; dreams, now undesirable. One partner may finally understand the other&rsquo;s angst surrounding certain issues and reverse direction. You may learn that there's not enough money to pay the mortgage, and decide to find a smaller home and sell one of your cars, rather than hoping that an investment could mean a big payoff.</p> <p>Explore alternatives that address underlying problems. Professional contacts that seem impossible to keep intact on a long distance basis after moving across the country could be preserved through frequent travel and face-to-face visits.</p> <p>Consider the impact of decisions on the well-being of you as a couple, which may or may not be the sum total of each individual&rsquo;s happiness.</p> <p>Agree immediately, or table the discussion for later, or have a series of discussions. Find the path that leads to wherever you decide you want and need to go.</p> <p>Compromise can be a quick-and-easy conflict-solving technique. But it can also be a shortcut that doesn't lead to a better relationship, assuring that noone gets what he (or she) wants, allowing deeper problems to simmer, and stalling or preventing in-depth discussions of hopes, priorities, needs. For the long haul, you&rsquo;ll need more than compromise in your relationship-building toolbox.</p> <h2 style="text-align: center;">&nbsp;Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fhow-to-agree-without-compromise&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FHow%2520to%2520Agree%2520without%2520Compromise.jpg&amp;description=How%20to%20Agree%20without%20Compromise"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/How%20to%20Agree%20without%20Compromise.jpg" alt="How to Agree without Compromise" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/julie-rains">Julie Rains</a> of <a href="http://www.wisebread.com/how-to-agree-without-compromise">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-to-boost-your-partners-bad-credit-without-risking-your-own">6 Ways to Boost Your Partner&#039;s Bad Credit Without Risking Your Own</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-ways-couples-can-tackle-money-goals-together">4 Ways Couples Can Tackle Money Goals Together</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-put-your-spouse-on-a-budget-without-ruining-your-marriage">How to Put Your Spouse on a Budget Without Ruining Your Marriage</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-regular-budget-meetings-might-save-your-marriage">6 Ways Regular Budget Meetings Might Save Your Marriage</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-money-moves-to-make-the-moment-you-decide-to-get-married">5 Money Moves to Make the Moment You Decide to Get Married</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Development compromise marriage Fri, 18 Jun 2010 12:00:04 +0000 Julie Rains 137452 at http://www.wisebread.com