Planning for Your Financial Future: How to Set a Budget with Your Spouse
Step 1: Determine Your Financial Goals
Make up a list of your long-range and immediate financial goals. Create this list together.
Long-Range Financial Goals
What do you see money offering you in the future? Your list might include:
- Retirement
- College education for children
- Ability to take long vacations when the kids are much older
- Charitable donations
What do you want from your money today? Your list might include:
- Mortgage
- Private school tuition for children
- School supplies
- Food
- Clothing (business and casual)
- Household supplies
- Summer camp
- Vacations
- Car payments
- Utilities
- Dry cleaning
- Newspaper delivery, magazine subscriptions
- Entertainment (movies, dinner)
- Personal grooming (haircuts, manicures, massages)
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