Since I got married in 1996, I have been the CFO of our family. The decision was an easy one, since I liked doing bills and budgeting. Shawn, not so much. As a result, naturally, I know everything from how much we have in retirement to how much we pay in taxes each year.
I was shocked when I asked a good friend, recently, how much they paid in property taxes and she had no idea. She couldn’t even begin to guess. No offense, to anyone like this friend of mine, but c’mon ladies, get a clue. I don’t care if your husband makes more money or even if he makes all the money.
You need to be involved in your family’s finances. Plain and simple. Chances are you are involved in the everyday spending for your family. Groceries, toys, school supplies, kids’ activities, etc. If you can handle the balancing act of being a mom, you are savvy enough to know about your investments and savings.
In fact, it’s downright reckless for you to be in the dark. For example, if you knew you had little money in retirement or excessive credit card debt, you’d know to tighten the purse strings. That’s nice to help out every PTO and Girl Scout fundraiser, but pay yourself first. Your future is non-negotiable.
Hopefully, you can honestly say that you know where your money is going every month. If not, it’s time for a sit down with hubby. Tell him from now on, you want to have a monthly meeting to go over finances.
Not only will you learn how much you have, you also can brainstorm together about ways to spend less, save more and eventually meet all your goals.
