All this talk of money inspired an idea \u2026 and we know Who that came from (hehYES).<\/p>\n\n\n\n
So every household has income and expenses \u2026 even if one severely outweighs the other, they are still that. And presuming that if one must work with another adult to manage the aforesaid household, both parties on the same page is usually, typically, generally more beneficial that doing\/handling everything separate.<\/p>\n\n\n\n
Was watching an old OG video and Mr. Samuels was \u2026 castigating a divorced MF who stated that the reason for the split was that they just could not get along \/ delving a little deeper, she disclosed that she earned a higher income that her ex, and she did not allow him to handle the family finances.<\/p>\n\n\n\n
AhHA\/gotcha moment commence.<\/p>\n\n\n\n
The OG proclaimed that, as a MF, she likely contributed to the demise of her marriage because she didn\u2019t \u201clet\u201d him lead, that she kept her $$$ to herself and functionally financially emasculated her ex. <\/p>\n\n\n\n
Methinks me gotta disagree here.<\/p>\n\n\n\n
Now, there are some guys who are just money savvy. He sees the bills, he conquers the bills, he creates savings\/investment and stability for the family, and she can rest in her feminine.<\/p>\n\n\n\n
And then there is life.<\/p>\n\n\n\n
Unless she is a full-fledged, certified SAHW&M \/ total trad wife, methinks most women are not comfortable with the idea of working 40 and receiving an \u201callowance\u201d subject to his whims. Most women do not like being infantilized and presumed money-idiot.<\/p>\n\n\n\n
Methinks \u2026 now, could be wrong, but think not. Anyhoo.<\/p>\n\n\n\n
One suggestion is to have both adults participate in the direction of the family finances via the \u201c6-In-One Plan;\u201d that is, the One household has 6 accounts to manage the collective money.<\/p>\n\n\n\n
Sounds like a lot, but bear with.<\/p>\n\n\n\n
6 accounts: The idea is to have all income from whatever source dropped directly into the #1 Savings then disbursed according to the SPENDING PLAN worked out and agreed to by the adults.\u00a0 That way, the household always pays itself first, everybody has input and shares a common goal \u2013 financial stability, security, and freedom.<\/p>\n\n\n\n Free at last, free at last, thank GOD ALMIGHTY I am free at last\u2014 well not yet but this might help getting there.<\/p>\n\n\n\n #6: Investment Account might only get $10 or $100 or $5 for a particular month\/pay period but the real beauty is those funds build overtime \u2026 like investments should<\/em>. <\/p>\n\n\n\n Added optional wrinkle … for the #1 Savings and #6 Investment accounts, either party can deposit but it requires two signatures to withdraw cash \u2026 that way, no unpleasant surprises\/sneaky tactics, and forces the couple to work together.\u00a0 If either (i.e., she) needs more funds from the #2: Household then that requires a discussion and possibly a reorg \u2026 but overall methinks folks do well within expectations.<\/p>\n\n\n\n Now, if a household is comprised of a single adult and\/or single adult with offspring, still works.<\/p>\n\n\n\n Option #B:\u00a0 Single \u2026 unmarried, childfree gets a “BigDoins” account.\u00a0 Option #C:\u00a0 BM\/BD \u2026 unmarried, but have children, either with\/without custody \u2014 enter: FlyFreeFund.\u00a0 What\u2019s really going to be interesting is sharing the idea with Half \u2026 methinks me been a $$$ problem our entire marriage, wonder if Half will even want<\/em> to try.\u00a0 We (the collective) shall see.<\/p>\n\n\n\n More to come \u2026<\/p>\n","protected":false},"excerpt":{"rendered":" All this talk of money inspired an idea \u2026 and we know Who that came from (hehYES). So every household has income and expenses \u2026 even if one severely outweighs the other, they are still that. And presuming that if one must work with another adult to manage the aforesaid household, both parties on the … <\/p>\n
#1:\u00a0 Savings (ER fund, vacation plans, lottery winnings [DON\u2019T PLAY THAT], happy windfalls,
bonuses
#2:\u00a0 Household (day-to-day \u2026 groceries, gas, kidstuff, petstuff, carstuff, Costco run, housestuff
like utilities\/repairs \u2026 the expenses that are recurring and ongoing and unending \u2026 gah<\/em>.
#3:\u00a0 Debts (the payments with a balance due that can\/will eventually end \u2026 credit cards, auto loans,
student loans [maybe\/dreaming a little here], mortgage, personal loans \u2026 stuff that can be paid
off\/with a spending plan to PAY it off)
#4\/#5:\u00a0 Fun money x2 (him\/her \u2026 personal grooming, baubles-trinkets-doodads,
mad money\/that angry cash)
#6:\u00a0 Investments (could be a money market account [what\u2019s that, you ask? More to come],
retirement funds, business opportunities, real estate)
<\/p>\n\n\n\n
One of the major beauties\/benefits of being S&CF means you get to live your life for you.\u00a0 All props, not mad.\u00a0 That being said, as a S&CF person, big plans are almost always in the wings \u2026 travel, buying a home, dream car, etc.\u00a0 Replace a FunMoney account with the BigDoins account \u2026 done.<\/p>\n\n\n\n
Replace one of the FunMoney accounts with a FlyFreeFund, an account dedicated to building a lump sum to give to the kid(s) at 18.\u00a0 Can be a 529 account (more later) or just life startup funds for the child(ren) to be used for whatever \u2026 down payment for a home (yehright), car, college (see 529 account), travel (what? no<\/em>) or starting a business.<\/p>\n\n\n\n