How Do You Develop Money Management Skills?
• Share the burden if you are married. Even if you have been assigned the responsibility of paying bills, include your spouse in the process. For example, discuss all purchases with each other and always establish a budget that you agree on. By doing this, your spouse will be respectful towards the money management decisions you have established and will make sure to abide by them. The goal is to have both you and your partner working together within the boundaries of whatever budgetary requirements you have established together. Additionally, you won’t feel alone mulling over the finances. • Remain transparent when developing financial management skills. This can be as simple as having an open book policy with your spouse so that he or she has access to bank accounts and any billing books you have established. Of course only one person should actually pay the bills and work the books, but having good transparency helps avoid any feelings of resentment by your spouse. • Establish a bud
