money matters

Last night J and I decided that this weekend we’re going to have “the money talk”. We need to decide how we’re going to share finances and bills once I move in. I’ve never lived with anyone before, so this is a whole new ballgame for me. On the one hand, it’s never much fun to talk about money. I don’t think too many people enjoy sharing their personal finances. On the other hand though, it makes me feel very grown up that we’re dealing with it in advance in a mature manner.

I’m thinking about stopping at Barnes & Noble to pick up some financial advice books. I have heard good things about “Smart Couples Finish Rich” by David Bach. If they’re in stock, I might also take a look at this, this , or this. I figure a bottle of wine will help the process too…

How do you and your partner manage money? Do you have any book recommendations?

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4 Responses

  1. MOST DEF recommend all of Bach’s books.. they are really good!

  2. Good luck! Joe and i didn’t get a book, but i’ve long had roommates, and he was married before, so we both had some measure of experience and expectation dealing with sharing household expenses. We’re still working out how to actually share our money, though — we still have individual bank accounts and just each write a check for our share of the rent each month. We’re buying a condo in a couple weeks, though, so we kind of need to sort that out before the mortgage payments come due. Keep us posted, especially if you find any of the books helpful!

  3. Hey, congrats on the new blog and sorry to be late to the party. I’m adding you to my blogroll and your feed to the ones I consider for my DCblogs contributing editor “gig” (I do Thursday nights, so post particularly Washington-y stuff then!)

    As for money… sigh… yah, I feel you but no have no great thoughts… yet, except to talk, talk, talk. My fiance and I are refinancing a house, buying out his sister umm now in this fab. economy! just cause hey, such a great time to do it (not). Anywho… it’s been hard, would be stressful in ideal circumstances and this is not but we are TALKING and even when frustrated or worried, listening and letting the other vent/ cry or whatever. it’s not easy by far but, the sun is starting to emerge…and i’m pretty durn proud of us.

    We, too, plan to sit down and set up finance “rules” for the more day to day, prob. get a financial advisor too. even as simple as which accounts are shared, which aren’t? do you pay equally or based on percentages relative to income. I think most things ultimately are best at their simplest, and we both like structure so…

    Also, he’s great at organizing/ensuring things are paid on time, knowing where they are and i’m good at operating electronically so… hoping for some synergies there.

    Good luck. Keep me posted on what you do/read that’s good.

  4. I don’t know if you are still wondering about this (I like to read new blogs I find from the beginning) BUT 2000 Dollar Wedding has an awesome breakdown of shared finances. http://2000dollarwedding.com/2008/11/q-combining-finances.html

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