MONEY IN PERSPECTIVE

I have hust read about a thrifty young woman who became concerned over the lavish amount of money her boyfriend was spending on her. After an expensive dinner date she asked her mother, "What can I do to stop Bill from spending so much money on me?" Her mother replied simply, "Marry him!"
Is that an unfair generality or a very perceptive comment on the state of our Kiwi male who within a year of marriage reverts to type and becomes buried in the dull routine of existence. As far as the purse strings are concerned he is likely to pursue one of two directions. Either he says to his wife, "I'll make the money - you handle the pay packet. Mind you any overtime or extras usually finds its way into his hip pocket.
The other option is for him to keep tight control of the chequebook so that his wife has to plead when she needs money to buy a new outfit.
Very seldom do I see a totally shared responsibility when it comes to handling the household finances. Yet this is the very essence of good money management.
Take two people, one male and one female, from totally different homes with different upbringings and experiences each with different likes and dislikes, each with some degree of independence and self-centeredness living in the same house with different tasks and responsibilities trying to work from the same budget and trying to meet the same goals. Will they agree on everything? Not in your life! Despite their firm commitment of love and loyalty these differences make some degree of conflict inevitable. There are more disagreements about handling of money than possibly any other subject.
So, what should a young couple do when setting out on life's journey? I would like to see them take these steps:
1. Get some expert advice to set up their initial financial plan.
2. Open the required number of joint Bank accounts with either to sign.
3. Enrol in a few courses like cooking classes for low-cost meals, repairs and maintenance etc. and teach each other these skills.
4. Start right from scratch while there are two incomes to save a healthy deposit on their first home.
5. Take it in turns to decide what will be the next financial goal to save for but put a ceiling on the limit.
6. Have a family conference every few months to discuss finances, evaluate progress, allocate tasks and modify plans.
7. Plan an annual holiday and decide where to go and how much it will cost. Then save specifically for the holiday.
8. Above all, get some enjoyment out of your hard-earned money and use it for innovative purposes. Give each other a surprise present apart from birthdays and Christmas.
Enjoy a dinner out on occasion. The reciprocal rewards will be great!