POST OF THE DAY
Living Below Your Means
New Here and People Think I'm Crazy

Format for Printing

Format for printing

Request Reprints

Reuse/Reprint

By LaraAmber
June 21, 2006

Posts selected for this feature rarely stand alone. They are usually a part of an ongoing thread, and are out of context when presented here. The material should be read in that light. How are these posts selected? Click here to find out and nominate a post yourself!

My husband and I got married in March of 2005 and since then I've been CFO for our little family of two. I do bookkeeping/reporting as part of my job responsibilities, and since I spend all day looking at P&L's, it made sense that I'm the one doing the paperwork at home. I do enjoy working with money; it comes naturally to me.

We're doing pretty well. We make decent incomes (nothing to brag about, but enough to live on in our market) and have no debt other than our 15-year mortgage on our townhouse. We sock money away into savings (16%) and retirement (15% for him, 20% for me).

When our friends and coworkers hear about our life, they think we are nuts. Why they laugh:

1. Found money rule. All found money, including rebates, refunds, loans to friends, tax returns, presents, bonuses, and pay raises go into savings. My friends joke they should make the check out to my savings account instead of me.

2. My monthly reports. My husband and I used to have arguments about our finances. He couldn't remember what I said the week before about our electricity bill, or he didn't want to talk about our money when I did, little things like that. So at the end of each month I write him an email "report" reviewing the month's expenses, savings, and current account balances. It's basically a combined P&L and Balance sheet. I don't get asked the same question 5 times, and he doesn't feel out of the loop.

So I figure I belong here with other people who are crazy and don't want to live straining the seams of their budget. I'm tired of being surrounded by people who think "I can afford the monthly payment" instead of "can I afford the total cost, including interest".


Become a Complete Fool
Join the best community on the web! Becoming a full member of the Fool Community is easy, takes just a minute, and is very inexpensive.