Your Pregnancy for the Father-to-Be by Glade B. Curtis

Author:Glade B. Curtis [GLADE B. CURTIS AND JUDITH SCHULER]
Language: eng
Format: epub
Publisher: Hachette Books
Published: 2012-02-15T00:00:00+00:00

EVALUATE YOUR SPENDING

Do you pay much attention to where your money goes and how much you spend as a couple? Some people know where they spend every penny. Others haven’t a clue as to what their expenses are every month. It’s important to have a handle on your spending. Why? Because having a baby means more expenses, so you may need to economize. If you don’t know where you spend your money, it’s harder to curb expenses.

Keep a Record for a Month

It’s a good idea to evaluate your spending. To help you understand where your money goes and to identify areas where you may be able to cut expenses, keep a record for 1 month of everything you spend as a couple. Begin by listing all your fixed monthly expenses, such as mortgage or rent, utilities, insurance payments, car payments and any other expenses you have. Add to this figure the payments you make and the amount of interest you pay on credit-card debt, if any. (This is discussed in greater depth below.)

Next, buy a small notebook, and carry it with you; have your partner do the same. Write down every expenditure (cash, check and credit card) you make, then transfer your expenses and your partner’s into a notebook that you keep at home for this purpose. It may seem like a lot of work, but once you get going, it’s fairly easy.

If carrying a notebook around is not for you, keep every receipt for cash, check and credit-card purchases—then use the receipts to create one record of expenses. You may find it easier than writing things down at the time of purchase.

At the end of the month, sit down together and examine how you’ve spent your money. Compare the amount you spent with the amount of money you have coming in as a couple. How much do you have left over? When you understand where your money goes, you’ll be able to make intelligent decisions about any changes you might need to make in your budget.

You may be surprised by how much you spend on things you don’t think much about. But seeing your expenses in black and white can help you realize what your spending habits are. Some people find they can save some money by cutting down on some expenditures.

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