Money Saver Challenge Day 7: Get on the Same Financial Page as Your Partner

[Cafe Steph]

Welcome to Day 7 of the Money Saver Challenge!

Do you and your significant other have different ideas about how much you should be spending or saving each month? Make an effort to get on the same page as your partner about your savings goals, what you need to eliminate from your budget, and what you should and should not be spending your money on. Talk about what you would do in certain situations, too, like extended disability or job loss.

Which of you is a spender?
Which of you is a saver?
What would you do if one of you was disabled or lost your job?

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[Stacie03]

Which of you is a spender?
Probably me

Which of you is a saver?
Me

What would you do if one of you was disabled or lost your job?
I am a SAHM so if DF lost his job we'd need to quickly find something else. I am lucky enough to have a standing job opening at my former work where I could start immediately if I needed to.

[Larisa72]

I am more of a spender - but never for things for myself....DH saves up for things or comes to me to see if we can afford things (I do the finances and we review together).....As for being disabled...he's a 40% disabled vet, but we also have $$ put aside should something happen.....we've also discussed what steps would be taken should he pass away - pay off and sell house, sell one car and as much household goods as possible, etc.....he's not so confident about if I die......these are things we HAVE to plan for so they don't financially destroy us

[michiganmom116]

Which of you is a spender?  DH
Which of you is a saver?  me
What would you do if one of you was disabled or lost your job?  The other one would work.  We can live on one income.

[mewebb82]

He's the spender and I'm the saver. I'm actually about to quit my job to stay home for a while. His income is more than enough that we can save for just in case. If I had to, I would go back to work though.

[motamaid]

Omg. I am a saver and frugal. DH blows his money in one breath. I have been begging for 2 years hot him to take even $20or $10 bucks a paycheck and put it into savings. He won't. If one of us were to lose our job the other would bust Ass. But I never got to finish my degree so my jobs would probably be much less pay.

[MamaBear2cubs]

Yes we are polar opposites when it comes to financial aspects. I am a saver and he is a spender.

[jerzeetomato]

He is the saver, I am a minimal spender.  We are facing the job thing right now.  My job is moving and I am not in a position to make the commute.  We took some IRA money that was stagnant and paid off some bills so we won't be so strapped whil I look for a new job.

[Snowpuma]

Great post and questions. Both my husband and myself can fluctuate on who spends and saves, usually though we try to stick to our monthly and yearly financial goals and do check ins. We also do wants and needs lists. My dh is the only one working a full time paid job....we have talked and I am willing to work to help financially, knowing to stay where we are I'd probably have to work two jobs for his one.

[ForeverInLove]

Which of you is a spender? We both can be a spender, if we feel it's needed or will be needed.
Which of you is a saver? Hard to say. We rarely have anything left to save... by the time one of us comes up with anything saved, it becomes needed right away. We live paycheck to paycheck...just nothing left to put in the bank accounts.
What would you do if one of you was disabled or lost your job? I'm already a SAHM. If hubby became disabled, he'd be applying for disability. If he was unable to care for the kids, I'd still be staying home because we wouldn't be able to pay child care. If he could watch the kids, I'd be getting a job. If he just lost his job, he'd be applying for new ones, or we'd wipe his 401 and just move. 

[Irishmommy860]

Which one is a spender?My DF...his mom is a shopaholic and she raised him to be that way too

Which one is a saver? Myself..Ithank goodness I do!

We are a one income household so we would be up the creek if he lost his job...thankfully he just received a promotion instead!