Learning Money

by Robyn Wright on October 1, 2012

in Living

money finanancesI have mentioned in the past that money is not my strong area, and it is not for Hubby either. We decided though that we have to quit just saying that and having an “excuse”. We are both working together to really get a handle on what money comes in, what goes out, and how to better plan for our future. Here is what we have done so far.

  • Education
    This is where we started a bit. There are a lot of free online classes and information about personal finance. We have read and watched a few short things together. Not a ton – maybe 3 hours in all – but it is something and we did actually learn some things. I am going to keep looking for other education in personal finance that we can continue with.
  • Tools
    We are trying to find the tools that will work best for the both of us to be in charge on our finances. One simple thing was to buy an inexpensive accordion file where we can store incoming bills, tax information, etc. Prior to today those papers just lived on my desk (which is a mess usually). The goal is to file these things immediately when they arrive in the mail. Our bank has online banking which I have used for several years now but Hubby had never used. Tonight I helped him go through the setup and get everything started for him. Not only did he have to set up the online accounts, but I also had to walk him through how to use the basics. We also are trying Mint.com – again something I have known about for a while – but something he was unfamiliar with. We began setting up those things.
  • Researching Our Money
    Because we haven’t been great about keeping track of things, we are now having to research our own money. In order for us to make a budget we have to know what those monthly bills actually are for. I honestly did not know how much exactly our car payments were, credit card payments, grocery costs, etc. I am going through our bank statements and incoming bills to find those numbers. We are also writing down every penny we spend now for a few weeks to track all those little things here and there.
  • Communication
    This is one of our biggest things that we know is crucial. We both have to communicate with each other about all of this. No one can yell about it either. We realize both of us have our strengths and weaknesses in this area and where I may need help Hubby will step in and where he needs help I will step in. It is a total team effort.

Do you have a grasp on your money habits? Any tips to share? Or are you in a spot where you need to learn just like Hubby and I?

© 2012, Robyn Wright. All rights reserved.

Tagged as: marriage, money, saving money

  • http://twitter.com/4hatsandfrugal Amiyrah Martin

    I love this post, Robyn. You two are surely on the right path. 5 years ago, the husband and I started our journey to being more mindful of finances. It’s the reason I started blogging. You are right: communication is key. As soon as it starts to lack, you’ll see that finances will start lacking again too. As long as you keep talking to each other, make “finance dates” and keep it honest, you’ll do just fine.

    • http://www.RobynsOnlineWorld.com/ Robyn’s Online World

      I like the idea of setting “finance dates” – I’ll have to mention that to my husband

  • http://twitter.com/MonicaJohnson Monica Johnson

    That’s awesome Robyn! I’m also working on finances. I LOVE Mint- I’ve been using it for several years now and it helps me stay accountable to my budgets for various categories! Good luck with your goals!

    • http://www.RobynsOnlineWorld.com/ Robyn’s Online World

      Thanks Monica! It would be nice if it could be more fun – maybe we will think so when we realize we have saved more money than what we had realized

  • addrienne

    i dont have a grasp. i work, i buy and i still have $$ in the bank so im doing something right

    • http://www.RobynsOnlineWorld.com/ Robyn’s Online World

      That is kind of how we have been – we work, pay the bills, still have some money – but I think we can do a lot better with our money and planning for the future for sure.

  • Tiffany Winner

    For some reason I can see the photos of other commenters but can’t see the comments?
    As for money, i’d like to try that Financial Peace University, my mom is taking it and it seems to be helping her so far
    thismomwins@gmail.com

    • http://www.RobynsOnlineWorld.com/ Robyn’s Online World

      Tiffany – DISQUS was having some issues – hoping it is fixed now.

  • http://www.facebook.com/profile.php?id=551370343 Anna Galanos

    I am just starting to learn about having a job and I have one bill to pay in the house as well as my own groceries and products I use now. Oh, and pet products too. I am starting to pay the phone bill, for the three of us that live here now, but for my brother that has moved off, I have him pay $50 for it, so it’s split 4 ways. It is hard to learn about money, I just try and make sure I write down all of my debit card and check purchases in my check register so I know where my money is going and make sure to check my online bank account as well as what I have written down so there are no sudden withdrawals or anything without knowledge.

    • http://www.RobynsOnlineWorld.com/ Robyn’s Online World

      We struggle keeping track of debit card purchases. For a while at least we are going to change over to a mostly cash system to better keep track.

  • Lori Atwood

    Thanks for sharing! My husband and I need to do better with our finances, too. I am pretty much in charge of it all and, honestly, don’t want to hand over any of the responsibility. LOL But I feel like my husband should at least know how I do everything…because you never know what could happen! I also need a better system for incoming bills. Mine are just sitting on my desk, too. How do you like Mint.com?? My husband mentioned us trying that a few weeks ago but we haven’t looked at it yet.

    • http://www.RobynsOnlineWorld.com/ Robyn’s Online World

      I have been in charge of the money in our marriage too although I would have been happy to hand it over to Hubby since I do not enjoy it. He finally understood that we both need to do it together and that has been nice. Agreed that both spouses need to have some basic info at least in case something happens to the other.

      I am liking mint.com so far. Still adding things to it bit by bit and learning, but it is a much better system than our “no system at all” we had before. It is free – you should give it a try at least and see what you think. Watch the little video they have before you sign up to get a feel for it.

  • Shannon Whitfield

    Great topic. We’ve been better with our money since we went down to one income (four years ago when I decided to stay home to raise our first daughter.) Before that, when two incomes were rolling in and we had no kids, we were far worse about managing our money (still, sometimes I think back wistfully about nights out, dancing, having fun, not caring about money.. to be young again!!). We still have a way to go, but we’re getting there. It’s been a lifestyle change of sorts, but the most valuable thing we’ve learned in the last few years has been to only buy what we need. We pay for most things in cash so we can tell exactly where each dollar is going, and we keep one credit card for emergencies only.

    • http://www.RobynsOnlineWorld.com/ Robyn’s Online World

      That is great that you are able to stay home. While I work at home, I have always considered myself a stay at home mom first while my son has been growing up. Now that he is almost 18 I guess that part is slowly coming to an end sadly.

  • http://www.redneckrosie.com/ Rose

    This really isn’t a strong suite for us either and it’s hard to get a real handle on things. I want to save it and stash it away in my personal safe. (fire proof) I have also gotten envelopes and labeled them with a purpose. Example: BlogHer’13 is in there as well as a few others.

    Something that I would LOVE to find is some kind of checkbook software to help balance and see what we’re doing almost at a glance. I think it would give me a sort of outside looking in feeling to curb those small spontaneous purchases, you know the ones like going to the grocery store hungry, or standing in the checkout lane and getting bored, buying a magazine that you don’t pick up again for 6 months and that’s when you toss it.

    I really think everyone could stand to learn a bit about money and money habits, if not from one another then in a class setting. Knowledge IS power!

    • http://www.RobynsOnlineWorld.com/ Robyn’s Online World

      Mint will import your checking account info from your bank if you have online banking – you can easily see what is happening that way! It even knows already what some places are and will categorize it for you.

      • http://www.redneckrosie.com/ Rose

        Mint? I’ll have to check into that one. Do you know much about it? How safe and secure it is to use?

        • http://www.RobynsOnlineWorld.com/ Robyn’s Online World

          It has been around for a while now and it was bought by Intuit. Here is their security information: https://www.mint.com/how-it-works/security/

          • http://www.redneckrosie.com/ Rose

            Thanks, page is loading in another tab. You have no idea how many times I have searched for something like this. The downside for me is that I don’t really want anything that works directly with my online banking. I’m funny about that sort of thing.

  • Ravzie

    I think the most important thing to know is that you have to live below your means and put money away. Too many people live above their means and end up with a lot of credit card debt. That is a no win situation!

  • http://www.theconfidentmom.com theconfidentmom

    We started a pretty strict budget a year ago and it has been awesome! No more arguing about money, we know exactly where it goes and we use mint.com to track it all, which makes it super easy! I wish I had done it sooner

  • Mariah

    I love using the Mint app on my phone to see where I am at on my budget I check it before I enter the grocery store to see where we are. It keeps me in check and helps me see where my money goes.

  • Susan Smith

    I think it’s important to make a budget together. We don’t use credit cards. We follow the Dave Ramsey plan and only use cash.

  • Jennifer Peaslee

    In the Education section…what was your favorite educational tool? We need to go to money/finance ‘school’ too, but it’s hard to find where to start. jenniferpeaslee at gmail dot com

  • MichelleS

    (Off topic a bit) I think this is something that any parent who has a vested interest in their children’s future should really sit down and discuss money with their child(ren). Point out your money mistakes in life, tell them what you wish you would have done at age XX, and some common money traps/pitfalls, etc. and help guide your children on a better path. As a couple (responding to the article) I think it’s essential to be on the same page when it comes to money.

  • http://twitter.com/St4ceyNicole Stacey Nicole

    I am in the same spot as you and your hubby! Well probably in a worse spot haha My fiancé And I are constantly getting in fights over money. We need to take an online class and try to get on the same page!
    Email – Stacey.brickner6@gmail.com

  • http://twitter.com/itsjuststarla Starla Mint

    Unfortunately, I’m in the same spot that you and your husband are in. My husband is much better with his money, and I know for me a lot of my problem comes down to mis-handling and a sense of pride. Other reasons, like being laid off years ago and relying on credit, play a role in it, too. I’d love to get some financial education though.

    its.a.hit at gmail dot com

Previous post:

Next post: