I’m guessing that a whiteboard is a little low-tech for most of our readers, but if you’re a couple learning to manage your finances jointly it can help to have an in-your-face visual reminder of your monthly flow of money.
Personal finance weblog Man Vs Debt recommends using a whiteboard rather than a spreadsheet as it keeps everything out in the open. Financial problems are a major cause of relationship stress and if you don’t have a good system worked out yet listing everything on the board gives you a tangible start point to see how money flows into and out of your life.
You can also quickly make any necessary changes as you work through your monthly budget. Man Vs Debt also recommends combining the whiteboard approach with weekly financial “State of the Union” meetings.
The system is a bit of an oversimplification, but if you’re starting from scratch and want to take control of your debts or your spending habits you can do a lot worse for your first plan of attack.
1 Simple Tool to Change How You Budget as a Couple [Man Vs Debt]
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