Hi PF,
I was just sitting in a presentation my work had for some of the younger/newer employees and they had a gentleman come in who gave the presentation. Long story short he gave pretty much all the advice that PF gives out on the sidebar which I thought was great because I had already known a lot about savings/retirements, taxes, an emergency fund, debt, and so on.
He did give out a piece of information that he does with his wife once a month and I wanted to know if anyone else has done something similar and how that worked out for you.
He stated that every month they go out on what they call a "Financial Date", where they pick a restaurant go have a few beverages and a bite to eat and bring the previous months transactions on all accounts for an overview.
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They print off all transactions and review them, marking each one accordingly to a necessary, a not necessary but not going to change, and a transaction that wasn't necessary. For example a necessary transaction may be a mortgage payment, and an unnecessary transaction maybe going out for dinner instead of cooking. The other one is something he said its they could live without if they needed to but would prefer not too, his example for himself was he liked to do woodworking, so he uses some money every month for a project on his own. His example for his wife was something for her hobby or as he jokingly stated "Sephora".
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The other thing they like to do at these date nights is evaluate the total spending and define a goal for the next date night. For example they may have spent $100 more on groceries that month than they needed and so they set a goal to bring the total spent for the month down to a reasonable goal, or evaluate why they needed to bring that extra spending in that month.
I thought this was a creative way to go over finances with your husband or wife and wanted to share the information and also hear if anyone has done this before and how it has benefited them.
Thanks! Have a good day/evening!
Submitted March 05, 2018 at 03:31PM by Wadalgo http://ift.tt/2I5d2aD
