Tuesday, March 07, 2006

Marriage & Money

Just realized, after reading this, how important it is for a couple to talk about money.

My wife and I have been married for just over two years. We both work (military) and make approximately the same. We currently have separate accounts except for a joint checking and saving. The only thing that the joint checking is used for is to pay the mortgage for the condo (currently rented). We've agreed on a monthly savings amount and are preparing to see a financial manager. I've been more aggressive in my own saving and retirement than my wife. I guess this is an area we need to work on and why we are going to see a 3rd party for some guidance/mediation. Mrs G has felt as though she didn't have the money to save for retirement. I on the other hand, prefer to pay myself first and then make my buddget out of what's left.

As you can probably tell we are still at the his and hers stage. It will take some time to get to an ours stage.

When we got married, I had some baggage, $18K worth. I have a child from a previous relationship (who doesn't live with us) and she has two. Mrs G was gracious and pulled more than her financial share early in our marriage. That graciousness allowed me to pay off all debts. We each have a credit card with balances less than $1500. We have the funds to pay off the cc debt, but prefer to have an emergency fund, besides we should have it paid off in a couple of months. For the most part we pay cash for just about everything. My car is paid for but we still owe on hers. That bothers her. Granted we had the cars prior to marrying. Since we are now one, I guess I should be contributing to pay hers off sooner.

We currently take turns buying groceries every week. I would rather just put money into the joint checking and go from there.

Well, now you have a little history of me and my thinking. Hopefully as this blog grows, we will grow closer to that ours stage!

Peace & Prosperity


Blogger jesslope said...

This comment has been removed by the author.

7:13 PM  
Blogger jesslope said...

getting married in a couple of months. right now we only have one joint account... our vacation fund. i don't think we'll change that unless we are having babies. it works for us. right now, we each pay our own way. we still have the same goals. we stay connected on what the other is spending or saving.

i'll be thinking more about this.

7:15 PM  
Anonymous Anonymous said...

Good Luck Jess

8:35 PM  

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