The Good Kind of Dorky


Monday, October 08, 2007

It's all about the

Tonight was the first of 3 sessions of a financial management course that Edgar and I are taking at University of Richmond. It meets Mon.-Wed. of this week and runs from 6:30-9:00 pm. I give Sarah, and everyone else who goes to school and works a full time job, so much credit. It's tiring and it has only been one night.

Edgar and I never had classes together in college so it's a first for us. I learned tonight that he is very inquisitive, which is fantastic, because I don't always speak up when I have a question. He also got some question correct that apparently no one gets right. What a nerd!

I think the class is going to be helpful in providing useful tools for investing, saving, etc. etc. Thus far, I have subscribed to the "Ignorance is Bliss Policy," but apparently that isn't recommended. Did you know that if I invest some of the money in my savings account, I could earn more money because the rates would be better? AND when I needed it I could take from it tax free (I think). I could invest in a money market for example. It's all about liquidity, baby! And what is a money market you ask? I have no idea! But maybe by Wednesday I'll know!

Apparently it's totally cool to have things to show for your money other than cute jeans and pretty cars. (But seriously though, I just got a really cute pair of jeans from Express for $60 and I think my ass looking good is "something to show for it") (I don't usually spend that much on jeans, trust me) (But they are cute) Aside from jeans there are things like life insurance so if I should die prematurely my dogs can still live the lifestyle they are accustomed to. Or retirement, which is just as important because without it how will I have cute jeans and adorable dogs and a vacation home on the beach when I am 55? Optimism and good financial planning--the keys to success.

Other than educating myself about the ins and outs of solid financial planning, the best thing about this course is that Edgar and I are taking it together. I definitely think it will enhance our marriage and our life together if we can make smart financial decisions as a couple. As nonchalant about finances as I may sound in this post, I do truly want to learn this stuff. I don't want to be a woman who sits back and has no clue what is going on. I'm a feminist, damn it!

So, who makes the financial decisions in your household? Do you feel like you have a good grasp of your assets/finances and what you need to do to reach your long and short-term goals?


  • At 11:28 PM, Anonymous alyndabear said…

    I'm struggling to get my head around financial stuff as it is, and Jase and I haven't even been reunited yet! Trying to find a rental place in a foreign country, budgeting in a foreign currency which I'm not even EARNING yet.. gah! Is doing my head in.

  • At 11:34 PM, Blogger janet said…

    we do them together, mostly. Andrew handles the overall "finances" and I handle the bills and the nagging. Don't laugh -- staying under budget requires A LOT of nagging.

    We also recently splurged on a fee-based financial planner. Let's hope he makes me rich.

  • At 8:00 AM, Blogger Erika said…

    Aww good for you!! Who says you're shallow?!?!? Maybe you can teach us a few things.

    Jonathan and I share all of our accounts. We both take turns a few times a week writing in everything that the Wachovia website says we have spent from the checking account (debits, bill pay, etc). This has worked out well for us because we both have at least a general idea of how much cash we have at any point, and also where our money goes (and how quickly). Way different from my parents, where my mom used the checkbook/debit card and my dad just used cash or a credit card so he didn't have to keep up with all that stuff. We also discuss major purchases (which for us is a single item over $100) - or at least run it by each other before the money gets spent. Except at Kohl's, of course. Because that is not up for discussion.

  • At 10:57 AM, Blogger Sue said…

    I make all my financial decisions. He makes all of his. Nothing is mixed. Nothing will ever be mixed. It will always be his bills, his savings/investments; my bills, my savings/investments...and never the two shall meet.

  • At 12:06 PM, Blogger *~*Cece*~* said…

    In our home Mister & I each have our own accounts. We just can't give up control to the other so this works for us. We split the bills. I pay for all of our medical insurance (which include his other kids) so in return he pays all the utilities and groceries. We split the rent and the couple of cards we have together is paid by whomever charged that month pays their charge the next month.

    This sort of arrangement doesn't work for everyone but for us its perfect.

    I've gotten better about saving, too. I surprised him when he saw my HUGE stash jar I have put away. ;-) Mama's going on a cruise next year so hell yeah I'm saving!

  • At 12:33 PM, Anonymous Operation Pink Herring said…

    Joel and I have separate checking/saving/credit card accounts, so we manage our own... which means, mine is always balanced, his never is. For joing expenses, I basically handle everything. We have a color-coded expenses spreadsheet that we try to reconcile every month, and the loser (I mean, the person who owes more) cuts the other person a check. It's a little cumbersome to enter all the stuff into the spreadsheet (especially when I leave it all until the end of the month), but the system works out pretty well otherwise.

  • At 12:52 PM, Blogger minijonb said…

    all my exs and even my current girlfriend try to dump all budgeting and fiscal stuff on my lap because they think i'm the responsible one... little do they know i'm a hack and i have no idea what i'm doing.

  • At 12:53 PM, Blogger L Sass said…

    I am really excited for AS and I to start managing our finances jointly.


    The good thing is, I'm naturally a spender. BUT he's even more of a spender, so he forces me into the conservative, saver role! I've become much more responsible since dating him!

  • At 1:09 PM, Anonymous audrey said…

    That sounds like it would be a good class for me and Tim to take together. I think we could both benefit from that kind of information.

    Just last night we had to have the "Can we please hang out with your friends WITHOUT going to Old Chicago and spending money, WITHOUT buying lots of beer, WITHOUT spending money on hokey tickets? Can we please do things with them that don't cost money?" talk. It wasn't fun.

  • At 4:34 PM, Anonymous cady said…

    we discuss purchases together, but i handle the finances and bill paying. it works out really well for us that way.

  • At 6:10 PM, Anonymous Erin said…

    I manage the finances in our house (pay the bills, reconcile the bank statement) but we have a joint account and all financial decisions are made jointly. I'm just the only one organized enough to keep track of the money!

  • At 10:16 AM, Blogger Marriage-101 said…

    So is this course at a college campus? I need to find one of these classes.

    We don't have joint accounts, but we split the bills and the financial planning part. And by planning, I mean who is going to pay what this month. There's very little saving going on right now.

  • At 6:46 PM, Blogger Angela said…

    Nick primarily handles the financial stuff just because he adores spreadsheets so much that he'd probably make out with them if he could, and I am rather repulsed by them. I do a lot of the day-to-day bill paying, but the rest of the stuff falls under Nick's jurisdiction and I'm prefectly content with the arrangement.

  • At 1:55 PM, Blogger Julie said…

    UGH! Tim and I are talking about our finances this week too. It sucks. Maybe we should find a class like you guys are taking....

    We really need to make a budget and it is making me hyperventilate.
    Maybe I will write about that today, since I have nothing else to say.

    Also- How mcuh do you usually spend on Jeans? 60 really isn't that bad (I mean I haven't paid full price for jeans in years since I work at GAP) but really thats a pretty low price.

  • At 2:44 PM, Blogger Mrs. Higrens said…

    What does it say that I don't ever see the checkbook, rarely have cash on hand, and my credit card is smoking?

    (Before you judge: we get cash back quarterly into our investment account, and it's really easy to track our spending habits online)

    My husband keeps track of everything, and we discuss large purchases before making them. I have a general idea of where we stand, but he knows precisely.

    I just spent $13 on a pair of jeans at Steinmart, so $60 jeans seem expensive to me. But if they make your rear look good: priceless.

  • At 5:36 PM, Blogger Carrie said…

    No, we don't have any of those "important" arrangements made. And I work in financial services. You would think that I would at least set some money back. But just in the last few years I was able to get out of debt and we are now just establishing a savings account.

    And I handle all of the money in our household. The boy gets an allowance.

  • At 6:40 PM, Blogger Nap Queen said…

    That is so smart of you guys to do that together! My husband and I have separate checking accounts and NOTHING joint. Mostly because my credit is good and his is bad, but on the mend. We discuss large purchases, but I pay the bills and make sure everything is paid on time.

    I have a 401K, a Roth IRA and a Money Market account, and he doesn't, but then again I have credit card debt and my husband lives a cash only lifestyle. We never fight about money, so I guess it's working!

  • At 12:13 PM, Blogger Isabel said…

    The King does it all. Which I hate. I feel very left out. He is all "we are poor. Don't spend money." And I don't know if we really are poor or if he's hiding all the money and saving it to take his lovah to Hawaii with.

    The King does it because I once complained that my exhusband never paid a bill, etc. So I think The King thinks he's being nice to me.

    Good for you guys for taking this class together and educating yourselves.


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