Dh and I have a budget meeting today. It officially starts at 11am and we’ve had it planned all week. It assumes me that we do it this way, but it really works for us.
I do all the day to day running of our joint bank account, which doesn’t take much doing as nearly everything is on automatic payment, and then every 4-6 weeks we sit down and have a budget meeting. At the meeting I present the accounts, like I would do at work, and then we make a plan for the coming weeks. It’s not a serious meeting; last time I did a funny power point presentation that had dh in stitches.
The best thing about the meeting is seeing our progress, it encourages us to keep going.
Do you have joint finances? If so, how do you decide on your budget?
{photo credit: ansik}
{ 12 comments… read them below or add one }
I’d like to have seen your power point presentation! I handle most of our finances. Everything comes out of our joint account by direct debit. Every few months I check what we are paying for and see if we can get any better deals. Then I recalculate how much is going to come out each month and we each put in half. Easy peasy!
Shoestring’s last blog post..Day 56: See-food diet
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Would love to have a civilised meeting – it would be up to me to organise it. But we still have some issues about joint finances and haven’t managed to agree on anything ‘fair’ yet. We used to do half and half, although I must say that as Hub earnt twice as much as I did, and eats twice as much…..I have some friends who put on their glasses for their ‘business meetings’ which I think is hilarious. Love the sound of your powerpoint presentations!
I have read a few posts and blogs today. I am wondering. Do any men do the household accounts? Anywhere ever??
mo’s last blog post..onwards!
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I do all ours… no budget meeting needed.. Beloved spends his set monthly spends and does what he wants with those as do I. The rest goes to the debt repayment and living expenses. Lol at the powerpoint presentation….
apieceofwood’s last blog post..Bucket list goal – Donate at least 12 things to a charity shop during 2009
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I do most (if not all) of the household budgeting and bank accounting. We don’t have budget meetings, but I love the idea of it. I’m not sure how “into it” DH would be!
I can just imagine how encouraging it would be as you work towards your goal!
kirwin’s last blog post..Living mindfully — Appreciate what you have
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We re-plan the budget when our income changes – about once a year. We evaluate spending in respect of ‘cost centres’, ie car, house, travel, medical, food, etc. ALL income is divided among these accounts, then spending as required is taken from these individual accounts.
j1mbo’s last blog post..The Algarvean Daze Twitter For Dummies Primer Part Two
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Brilliant idea. I think I might introduce it. Why 6 weeks though? My financial cycle is defintely monthly, income & expenditure, & I think 6 weekly meeting might confuse my pea brain more than clarify!
Lizzie’s last blog post..If I was a shopper
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I love the Abacus picture. I used to have one as a kid and I couldn’t get enough nerdy play with it! LOL. Budget meetings are necessary in my household. That is how we all stay on track (especially if we all want to go on our family Hawaii trip next year).
Money Funk’s last blog post..A Goofy Gaggle of Geese Giveaway
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Gotta represent the men. My wife is involved, but I am the one who pays the bills, and who tracks the income and expenses. I think the idea of regular budget meetings is great. We typically just meet ad hoc to discuss our money status. And she reads my blog…
Executioner’s last blog post..Escrow Update
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Thank you for all your comments and ways of budgeting
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Hi Laura,
I think you´re very lucky to have a partner who shares the same goals as you and participates to reach them. Those meetings sound fun and useful too
This was one of my frustrations, doing finances alone when it should be a shared task.
I´d like to let you know that I received the guiveaway book last Friday. I already started reading it and I´m enjoying very much. The core message in the book is what I was trying to put in practice. Now, I started from zero but I´m not giving up my dreams, lol.
Thanks so much!
A good week ahead, hugs,
Mizé
Mizé’s last blog post..Flowers in Pots
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I just found an interesting frugal living web site. Not sure if you have seen it or not, as it is from the states: hillbillyhousewife.com
It has many ideas for saving $, low cost menus and budget ideas.
Janelle
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Thanks for sharing such great post, according to me budgeting doesn’t mean that you have to compromise your needs but it is important for planning financial life. Household Budgeting means to create a planning for the money spending. Build emergency fund, minimize the use of credit card, planning, etc. are the tips for making personal household budgeting.
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