Then the journey begins.

Unfortuantly for 50% of newlyweds the journey ends in divorce. If you can eliminate the number one reason according to The People’s Media, your odds of having a successful marriage will dramatically increase. What is the number one reason couples divorce? Money! They say “money makes the world go round” but mismanaged money can “bring the marriage down”. What’s the answer? Hire a CPA to manage your finances. That may be a good idea for some, but for most of us that’s not practical. The answer for most people would be a family budget. What does that entail? A budget is nothing more than working up a form (or purchasing one- see example) listing the amount of income and a listing of monthly expenses. Then keep the expenses within the income. Simple Right. The trick to having a successful budget is

1. Being realistic when listing expense figures. It won’t work when the amount set aside for each expense is too low.

Take a look at our  Personal Budget Spreadsheet (download at bottom of page). It lists several average expenses based on a percentage of income. The download copy of the Excel spreadsheet will be fully functional.

2. Being flexible. That flat tire, the air conditioner that goes out, the emergency visit to the doctor, all can make the budget out of wack. You will continually have to make adjustments.

3. Figures written down on paper will not solve your family’s financial problems. Living by the budget is not as easy. It requires self-control and discipline.

We don’t have enough money! That’s our problem.

Your choices are;. You must either increase your income ,decrease your expenses, or use a combination of the two.

Probably, if you could have increased your income you would have already done that. One area you may have overlooked is an interest bearing checking account. Some banks offer attractive rates and the balances don’t have to be that high.Let’s see if we can find a way to decrease expenses. What are some areas where others have made cut’s, albeit painful in the beginning, but certainly not as painful as losing the budget battle.

• First list all your expenses, and line by line see if you can negotiate down or eliminate the expense. 
• Recreation and entertainment: over 6% of monthly income is spent on recreation and entertaimment. Read, go to the park, walk, these are things that are enjoyable and in the long run better forms of recreation for your mind and body.
• Bad habits-Some people in the us spend $1.25 out of every $100.00 on cigarettes. I know -you’ve tried a million times. But making it part of your family budget and the thought that on average you will be with your new spouse an extra eight years might be just the incentive to make you successful. Gambling is another expensive vice.
• Credit- Use conservatively, if at all. If you use credit cards, pay the balance if possible before the interest accrues. Avoid impulse buying. This is easier when you have credit cards.
• Clothing- Don’t rush to follow the latest styles. Conservative styled clothes are often the better purchase. You may be able to make some items if you can sew.
• Food and drink- Alcohol may be pleasurable but it is not necessary. Rather than throwing away leftovers, find ways of using them, such as in stews and casseroles. Eat out less. 45% of the food budget is spent on average eating out.

We  hope this information has proved helpful. Coping with modern married life can be stressful. Keeping a budget may relieve part of that stress and enable you to keep and enjoy your marriage.
                                   

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