I spent 30 years as a single Mom with supporting my family with no other help. I’m now married and on SS but keep my finances separate then my MR. We’re both 63 and our assets were built on our own. I agree that as a young couple it’s combined BUT mentally I need some independence.
If only I could have been this diligent in my youth. Now, in my 60's, I am figuring this out. Thank you for sharing your journey! I implemented the envelopes a few years ago, which helps now, as I am facing 2.5 yrs of unemployment.
I think it is very important for young couples to learn to budget. So many live beyond their means even with good salaries. I have to admit I have my own savings account. Everything else is a shared plan. My husband is in a vacation fund. It covers all our short and long trips. It comes out of his pension monthly.
Great video. Money management is so important, especially for young people coming out of college and beginning work. I think many couples struggle with budgeting and financial planning for the future and although there're a number of resources, it begins with communication. House, car and kid expenses will always come with surprises.
Budgeting is a great topic! All of my budgeting is done on my banking app. They track it all and you can set goals. Saves some time 😊 (edited to add that you can link other credit cards and accounts too…big banks offer this budgeting service for free)
A great video Marion, would love to see an on screen demo of Mint though. We're trying to get started using Numbers spreadsheets. Works as a free option, best when you incorporate formulas between the tables and cells. For those of us trying to do work and business from home , ave wondered though if Square might have something to use beyond just their business products to help households, but we'll see. Otherwise thinking of reaching out to Subsplash, to see if they'd help make something for families to budget well.
What a great video for those starting out. Sounds like you and your husband have a great budget and sense of spending. Finances are the hardest to deal with as a couple! Kudos to you both! Are the older two going to a day camp? Loved the video with your mom. It wasn’t long enough though. Would love to heard more! Take care and have a blessed day!
Cash budgeting makes me nervous for possibly a weird reason. Emergencies like fires or natural disasters. Do people put their envelopes in a fire box? IDK seems scary to risk the loss of cash.
While I somewhat agree, there are drawbacks. My mother was an ace budgeter, but she was sometimes foolish in not spending money where it was warranted. If you don't value maintaining what you have, replacing them can come at a much higher cost.
I did Commerce in High School. Never have a joint Bank Acc. My husband support me a our 6 children on a basic wage. He did extra jobs if we needed money and I made commission quilts for a extra cash. Now that we're pensioners, we budget, I 'control' the budget. We don't argue about money either.
wow this is great. I feel there is a bad recession coming by July this year. I am single with 2 shelter dogs living in Joshua Tree CA in a house with a $1200 mortgage. I have a solar panel roof so electricity is almost free. I am VEGAN which I find is much cheaper than eating a meat based diet. I'm on a fixed income with 2 shelter rescue dogs. 2 German shepherds for guard dogs. I got to fly back to glenview ILL where I was born to pick up 8 more dogs. which includes the mother and father and 6 puppies. and she is pregnant again so I plan to sell puppies. I live on 1 acer of land fenced for dogs. dont have a jewish GF but would love one. My best friend as a teen was Jewish and ate at his house a lot growing up. Thanks! for budgeting video.
Just wait for the teenage boy feeding frenzy. I have two teens and holy Moses do they eat. Football season is intense! Working on getting everything together for our small business and finances. We use quick books for our business. Still learning that stuff.
@@MyJewishMommyLife be prepared for growth spurts. I have tall kids - my son is 14 and 6’, my bonus son is 15 and 5’10”. I swear between age 12 to 15 they went to sleep and woke up an inch taller (probably not that much but it was crazy) increase their clothing budgets around that time frame. And keep snacks in the cars. And keep their school lunch account full. But enjoy every minute. Three more years and our kids will be graduating and my momma heart is not ready for that
This goes on well into their twenties! My brother and I used to have Sunday night dinners together when studying at university so usually I would have him over and cook for the two of us. A normal sized portion for me was barely half of what he considered a normal portion 😂. That’s the eason for my parents giving my brother an allowance of 50€ more per month during his undergrad, which is totally fair, the boy had to eat!
I just have 1 son, but he's nearly 6'-6", so I understand! Being a mom of a boy, many, many friends are also moms of boys...the stories are legend! I think one thing to consider is having a talk about being considerate of other people in the family ESPECIALLY MOM. It is really annoying to eat half my dinner and put the rest away for lunch the next day only to find out it disappeared for someone's midnight snack. We ordered pizza a few weeks back, and I got 3 slices out of 16. I had (again) put some away for the next day, but they disappeared. Turns out it was my husband (who grew up in a family of 3 boys) this time. I'm tired of writing "NO" on containers of leftovers.
We use cash/envelope system. We went through Financial Freedom by Dave Ramsey. Life changing for us. Except for our mortgage, we are debt free. We have one credit card that is for emergencies only and we pay it off ASAP.
*we save coins - quarters, silver dollars, 1 dollar coins for the "rainy day." It's possible to save about 10,000$ coin per 24 pack pop-can size of a box. *Gardening and "Wild-forage" saves some food costs, but it all depends on type of foods to create (stir-fry = easy, soup = easy ... jams = medium to hard, salsa = medium to hard, pickles = medium to hard). Bread from machine with bulk flour could save $. Bulk bag of rice could save $. Find "budget friendly" dump and go meals --> make up several meals at once. *Woman health products cloth re-use, cloth diaper mix and match depending on time re-usable. sometimes go-green wipes cloth for bottoms (toilet paper). sometimes cloth wipes and rags instead of paper towels but not really. *crafting and art supply? dollar store for most things like that. We own our own laser printer so don't pay someone else to print. *when selling things at a market (craft, farmer's market) think "re-cycle" cloth and products, wild-forage (flowers dehydrated, make own flower dyes, basketry items etc), wild forage for foods (berries, apples etc), bulk-supply easy to make soaps etc.
