I'm a chronic spender. I always have been. My book obsession alone is enough to wipe my bank account! It's hard for me to see something I want, and not be able to get it simply because it's not in the budget.
Nick, however, is a chronic saver. He hates seeing the number in the checking account go down. He tends to not consider himself a saver, because he also likes to spend money on fun things, but compared to me he's definitely better about saving the money we need.
So how do we make a budget that works if we're both so different when it comes to spending? We sit down, and budget together. Yes, you read that right. Together. If you're going to use the same budget, both people have to have input as to where the money is going. Otherwise you're going to run into the issue where the save doesn't budget for things like free spending, or the spender budgets too much for free spending! There has to be a balance.
Now one thing Nick and I are working through right now is Financial Peace University. (This post is not sponsored.) FPU is a lifestyle thought up by Dave Ramsey, based on biblical principles and ideas. As we work through FPU and the Baby Steps and get our finances on track, I was thinking it might be fun to chronicle our journey as well as give a brief overview of what the Baby Steps are. Feel free to leave a comment if that's something you want to read!
What are your tips for making a working budget with your spouse? What do you struggle with on a budget? Have you ever heard of Financial Peace University?