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I really think that usually women are better at handling the finances than men are. We are just programmed to multi-task and keep a lot of balls in the air at once.
I am really thinking of putting DH back on an allowance system. About 8 years ago he had a job right next door to a gas station. We were always completely broke and having to decide whether to keep the power on or the water. It was so frustrating that I decided to really tear our bank statement apart and figure out what was going on. Turns out DH was walking to the gas station 4 times a day and getting drinks and snacks. When I pointed it out, he asked what the big deal was. He was spending $100-$150 per week on snacks and drinks! And that was in addition to the lunch he took in every day. When I pointed out that half of his $300 pay check was going straight to junk, and told him that he worked half of his week to keep that habit up, that stopped. I had to take away his debit card and give him $20. He came home the first night on this system and asked for more money because he had spent it all before lunch. When he finally was able to make his $20 last all week, I told him he could have his debit card back. It was hard, but he was finally able to understand.
I think we may be getting back to that point because this past Friday I told him these little charges are hurting us again. He said ok. Then this weekend he did a few more little charges. "But I really needed a milkshake because it was so hot out." "I really needed some carbonation because my throat was getting sore." UGH! Last night we were coming home from getting the last few school supplies and he started to go through a drive through for "a snack before dinner". We were less than 5 minutes from home! Then he said "that's ok. I will just pay cash. That way it won't come out of the account." Where does he think the cash came from!?
I am afraid it may be back to allowance time. Either that, or I am making him handle the bills for a bit. See where he comes up with the money to pay the bills.
num, that is not good. For whatever reason, DH and I have always understood the concept that little things like that add up. We pack snacks and drinks to take everywhere. for a long time he packed his lunch for work every day, but not anymore. For a while he was even taking a soda and chips from home to go with his sandwich from work. Then there is his sister buying cinnabon for her daughter at the mall right before we go to lunch. They are always broke.
I would post here a lot more often if our time zones were a little closer! When I log on in the morning there are usually 5-6 pages of CD Moms Who Rock posts to catch up on! By the time I get to the end, I've forgotten who said what at the beginning. And then you all head off to bed just as I'm getting going!
Nummie - Many years ago I had a partner just like yours.... and we also had to resort to an allowance system, for exactly the same reasons. Frustrating isn't it!
My CC card offers rewards - but also has a $125 annual fee. Fortunately, the amount I spend each year equates to about $250 worth of rewards. I use the reward points to buy things I need, but in classier versions than what I'd pay with 'my' money. Last time I cashed in I got a set of very smart looking digital scales. The time before, I got a fancy-schmancy Sony digital camera with 12xzoom and a whole lot of other features I don't yet understand!
I'm always wondering which cards really have the best rewards. We have our bank card that credits money back to the card, and a Costco Am Ex that sends us a check to spend at Costco. I am tempted to get an air miles card, but I don't know which one.
Yeah - it's hard to compare card rewards (which is probably exactly what the banks want)! I considered an air miles card a long time ago, but worked out that I'd have to spend like crazy for several years before qualifying for a flight I wanted to take. Then you have the problem of actually getting on the flight you want using your points given all the restrictions the airlines place on reward flights. I decided it wasn't worth it.
Some cards in Australia (including mine) offer the ability to use your points for either flights or 'stuff'. If something similar is available where you are, it might be worth checking into.
I just recently got a credit card with reward stuff. I used to use my debit card for everything; now I use a credit card. My spending habits haven't changed but now at least I get points for spending money I can redeem them for giftcards or items so I am going to redeem them before Christmas.
Well, we use a credit card for everything too (well, not mortgage, etc.) and pay it off each month. The "rewards" - 1% - go into our son's 529 account. We've had the card for years and years.
I'm so annal - hate to admit this - I have separate accounts at our bank for emergency, general savings, and a trip account. I'm afraid if I put it all into one, it will get mixed up between what is okay for what. I'm obviously one of those people that needs to compartmentalize things!
I'm so anal - hate to admit this - I have separate accounts at our bank for emergency, general savings, and a trip account. I'm afraid if I put it all into one, it will get mixed up between what is okay for what. I'm obviously one of those people that needs to compartmentalize things!
Haha! Not anal, just cautious. I'm not that way, but DH is. We have accounts all over the place, drives me nuts.
I have friends that use their credit card for everything. They have their mortgage, car payments, and all their monthly bills automatically paid from the CC, then they pay it off each month. It gets them massive amounts of air miles and other bonuses. I don't care to use a credit card, so just admire them from afar.
My girlfriend and her husband do that too. They also buy gift cards at the grocery store with their credit cards. The gift cards are used to make purchases at other stores, like Home Depot. That way they get a double benefit of rewards points/air miles from the credit card and gasoline discounts from the grocery store for their purchases of food and gift cards. They take the most amazing vacations multiple times per year. That's when I admire them from afar.
I can't go down that road. I promised hubby no credit. Gotta keep my promise. We paid off our credit cards twice in our marriage. The first time I agreed to no credit too. Then I reneged saying we needed to have one for emergencies. I have no self control. I'll be the first to admit it. Thankfully I'm not the type of person who racks up tens of thousands in debt but I was definitely spending more than we could pay off each month, getting us into a hole. After paying off the second round of credit card debt, I vowed to keep my promise forever. We have been living debt free for almost 12 years. We even buy our cars with cash. Our house will be paid off in two years. So, when I admire people from afar for their points, I remind myself how lucky we are.
Quote:
Originally Posted by jkcoop
I'm so annal - hate to admit this - I have separate accounts at our bank for emergency, general savings, and a trip account. I'm afraid if I put it all into one, it will get mixed up between what is okay for what. I'm obviously one of those people that needs to compartmentalize things!
I'm tempted to try separate accounts but that will give me too much access to money. I need to keep the majority of our savings in things that can't be easily accessed. When something big happens and we need serious money, it takes about two to three weeks to access our most accessible funds that don't have penalties. That works great for me. Nothing big happens that can't wait two to three weeks since we lived way below our means for many years. We live near a bus line so we can easily survive a couple of weeks on one car if necessary. And we always have an extra third car in the garage that we can re-insure and get on the road within a mere few days if necessary.
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And then you all head off to bed just as I'm getting going! 
I was actually going to send out a Kobber APB.
I can redeem them for giftcards or items so I am going to redeem them before Christmas.
