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Relationship Financial stuff and August Goals

August 2nd, 2008 at 10:30 pm

Well, BF and I have had the chance to sit down and talk about some things concerning our finances. We've decided to open a joint bank account for our living expenses, and split the bills 30/70, as he makes substantially more than I do. I was really uncomfortable with this at first, but the more I think about it the more it makes sense. Besides, it will fluctuate, and who knows... there may be a time when I make more than he does, and the percentages will change accordingly.

I'm fairly excited to see how things will pan out with the joint expenses. I think it will be a good experience for both of us. I think it will help work more compromise into our relationship (not that we do poorly in that area, but still), and I also think some of my frugal budgeting hooplah will rub off on BF, and do him some good.

We got set up with renter's insurance. It's going to run us about $17/month. Not bad at all. I still need to talk through my life insurance policy with ma and see what my options are, and perhaps cancel my policy for the time being. $321/year really isn't THAT much money, but part of me would rather be investing it. But we'll see...

We're almost set in the new place, but we still need to get the desk organized. That's going to be a big project... ah well, a little at a time, I guess.

I sold 2 books on amazon, totalling about $80. Very nice. It will do wonders for the tuition payment I have to make here in a bit.

I'm not going to write out my total august budget here, but I am going to put down my goals. My fiscal august starts on monday, so here it is:

*Pay off summer classes by the 15th.
*Register for fall.
*Save up at least $100 for Kenya trip in may 09.
*Make at least $150 in additional income.
*Dont touch CC (except for paying off classes).
*Stay under budget.
*Pay off at least $150 on CC.
*No buying: Fast food, clothes, CD's, movies, or books for pleasure.

We'll see how it goes. Alrighty. Time to get ready for work. Everyone have a great day!

5 Responses to “Relationship Financial stuff and August Goals”

  1. greengirl Says:
    1217718641

    when we buy our first home BF and I will be splitting the mortgage payments into Bf: 2/3 and me 1/3, as it is the same as with you guys, he makes more than me. i too feel a bit weird about it, but i guess in the end, it will all be on paper if anything happens, and there will be times when he doesnt want to work, or goes on holidays, and when i start earning more, that the payments might switch the other way Smile

  2. sillyoleme Says:
    1217726803

    I'm glad you're not letting the whole 70/30 split bother you anymore. BF & I just have one joint account that all our money goes into, but if we did have a percentage, mine would be much more than his. But then again, it was my job that had us move here, away from our families & friends, in a much higher cost-of-living. So I guess it all works out. Smile
    I also agree with what someone said in a comment about one of my posts... about BF going back to college & me being the provider. They said that things might swing back and forth, and we'll take turns being the money-maker, which is very likely with us. Isn't it exciting to be sharing expenses and budgeting together though? Smile

  3. boomeyers Says:
    1217728571

    You have some great goals! Good luck and I look forward to seeing how much you can accomplish this month!

  4. Broken Arrow Says:
    1217733361

    Just a quick thought, but it might be easier to split bills instead?

    Percentage will work too, but in practice, may become a bit complicated about who does what. For example, if both are handling the bills, you'll have to communicate about who has already paid off what. Otherwise, if only one is paying for the bills, the other, who may be contributing, ultimately may not entirely understand the bill process, or the current status of the cash-flow. Consequently, when the money gets tight somehow, there may be miscommunication.

    However, it's just a passing thought. Feel free to handle whatever you feel is best.

  5. Amber Says:
    1217773068

    good luck with your goals

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