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  #1  
Old 14th February 2007, 03:45 PM
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Default Peaceful Money Management for Couples



Regardless of how much or how little people have, money management is the most common cause of dissension in relationships. While each couple is unique, most arguments about financial matters start with either lack of organization or lack of communication. Both of these are behavior issues, and behavior can be changed. Following are some tips for peaceful money management:

Get Organized.
Put details in writing.
Schedule a "Money Management Meeting."
Stop Money Mayhem.
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  #2  
Old 14th February 2007, 07:34 PM
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Originally Posted by Parthiban View Post
Regardless of how much or how little people have, money management is the most common cause of dissension in relationships. While each couple is unique, most arguments about financial matters start with either lack of organization or lack of communication. Both of these are behavior issues, and behavior can be changed. Following are some tips for peaceful money management:

Get Organized.
Put details in writing.
Schedule a "Money Management Meeting."
Stop Money Mayhem.
The biggest challenge of money management is explained by Brain Tracy in his book - The 21 Secrets of Self-Made Millionaires:

Quote:
Expenses rise to meet income.
If every person limits his spending, assuming his income has never risen (after adjusting for inflation), then money management will become much easier.

Whenever people's incomes rise, they start spending more. Spending money is addictive.

If a person's starting salary was Rs 7000 and now his salary is Rs 10000, he will do himself a lot of good, if he restricts his expenses to the same level as when his income was Rs 7000 and invests (not just saves) Rs 3000 in an appropriate asset.
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  #3  
Old 18th December 2007, 07:53 PM
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Originally Posted by Alchemist View Post
Whenever people's incomes rise, they start spending more. Spending money is addictive.

If a person's starting salary was Rs 7000 and now his salary is Rs 10000, he will do himself a lot of good, if he restricts his expenses to the same level as when his income was Rs 7000 and invests (not just saves) Rs 3000 in an appropriate asset.
True. Very True. I have my own example. I used to make both ends meet in 5000 when I was a student. Got the Job. Started earning 18 K. Now I used to struggle to meet the same expenses in 18K. Now a Days, more than 30K, but the situation is still the same.

Have started thinking about saving and investing now, though.
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