Create a Budget in 6 Steps

Homepage » Money » Planning for Your Financial Future: How to Set a Budget with Your Spouse

Planning for Your Financial Future: How to Set a Budget with Your Spouse

By M. Gary Neuman
The Oprah Winfrey Show | April 08, 2009

Comment (1)

I Like It

What do you want your money to do for you? As your individual and joint financial goals become clear, you will need to find creative ways to get as many of these goals realized as possible. Some of your financial goals can be reached immediately, but others will take long-range planning.

The following exercise will help you separate your financial goals into long-range and immediate ones, and will lead you through making a budget that will allow both of you to work together. A budget that both of you have developed will be easier for you to maintain because both of you "own" it. Successfully creating and staying within a budget gives couples a joint sense of direction and control.

6 Steps for Making a Budget
Step 1: Determine Your Financial Goals
Step 2: Calculate Your Costs
Step 3: Write Down Your Purchases
Step 4: Analyze Your Spending
Step 5: Revisit Your Budget
Step 6: Keep It Up!

M. Gary Neuman's marriage intervention

Use this script to talk to your spouse about finances

5 steps to keep money from wreaking marriage havoc

From The Oprah Winfrey Show Recession-Proof Your Marriage

Reprinted from Emotional Infidelity by M. Gary Neuman. Copyright © 2002.
Published by Three Rivers Press, a division of Random House, Inc.

Track Your Spending

In this economy, tracking and analyzing your financial habits has never been more important, but with the availability of personal computers and specialized programs, it's easier than ever to understand where your money is going.

What to Ask Before You Buy

Real deals on fashion are more accessible than ever.

Oprah's Debt Diet Step 5: Create a Monthly Spending Plan

Financial experts David Bach, Jean Chatzky and Glinda Bridgforth offer expert advice to help America create a monthly spending plan.

Financial Couples' Therapy

Personal finance expert and O, The Oprah Magazine columnist Suze Orman helps to create a compatible three-way relationship between you, your partner, and your finances.