We finished our review of our budget to see how to create our 2009 financial goals: the good, the bad, and the ugly. The good news is we’re spending less than what we earn. We’re not sliding into more debt and stressing out over bills. The bad news is that we weren’t as frugal as we had hoped. Being frugal to me is gaining the most value for what you spend; not just being cheap. The ‘ugly’ part was seeing how much money we were spending eating out dinner with friends. We were off budget for some months and realized if we had cut our eating out expense in half, we could’ve paid off the car loan by December.

I’m not too crazy about that discovery, but I’m glad we set the time to look at the budget together. Talking it helps with accountability and, for us at least, gives motivation to improve. We didn’t argue or blame each other for the mistakes. If you’re about to talk over your family budget, you may want to review our post on handling money topics as a couple. It had some tips, such as:

• Introduce your concern with politeness and respect. Money can be a delicate subject, as most of us building on what little foundation we learned from our parents.
• Try framing it as a ‘we’ issue. It is easier to handle a situation when you’re both on the same page. I really think this tip is a huge help. You’re a team and the team wins or loses, not the players. 
• Decide on your long & short term financial goals. Don’t just assume that both of you want the same things. Talk about it and prioritize what is important.
• Write down your priorities after you’ve made an agreement. This is a great way to keep track of how you’re doing and it”ll help keep you two on the same page.

If you just finished your personal or family budget review, please leave a comment with any tips that you have. 

Photo Credit: net_efekt

Special Announcement:

New Baby Alert! Congrats to the Caveman Family with their new beautiful Baby Girl!

Top Personal Finance Posts This Week

• Start The New Year Off Right With Some Budgeting Tips.
• What is Frugality?
• Career Couples: Who Becomes The Trailing Spouse?
• Working For The 2010 Census: Jobs With The Census Bureau
• My S.M.A.R.T. Goals for 2009
• Out with the old and in with the new
• 20 Things That Rock About Being Debt Free
• 2008: A Look Back at Being Frugal.net
• Reflecting On Goals For 2008 and Moving On To 2009
• Do You Switch “Frugal Mode” On When You Come Back from Vacation?

Have a great weekend. I hope to hear from you guys!

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