Common Ground between a Saver and a Spender in a Marriage

How do married couples get to common ground if one is a spender and one is a saver?

Social Media question answered by Attila Thiry, CEO at National Credit Resources, Author and Public Speaker

My point of view is simple. The spender should have to yield ground to the saver. I recently wrote an article on the subject of car purchasing (Car Buying article). In my conclusion I pointed out that the average American purchases 12 cars in a lifetime. If each purchase was reduced by approximately 1/3 ( buying a newer used car with less than 20,000 miles ), and that saved money was conservatively invested, than an individual could retire with more than a half million extra dollars.  It’s not magic, it’s numbers, and smart spending. You get the same quality of a car with just some added miles. More importantly an opportunity to grow your riches. I could point out all sorts of money saving and investment tips, but it all starts with the basic premise that money a tool. Tools if used correctly solve problems, if not they can never fix what’s broken. You have to be disciplined and use the tools correctly. The money tool is no exception.

Money is a double edged sword. It doesn’t matter how much money you make if you spend it all. Especially if it’s frivolous spending. I would approach the subject without scolding but with facts that lead to a golden conclusion. A bright side. First break it down into needs and wants. No body wants to rain on someone’s parade, but if you point out that needs are first followed by wants, and secondly that if you focus on purchasing wisely instead of by impulse, than you can be assured of money security versus money insecurity. Wise purchasing, especially on larger ticket items can save an unbelievable amount of money over a lifetime. Start by making a game of it. Figure out the average amount that each of you spend each day, then challenge each other to reduce the amount by 10% weekly for four weeks ( one month ). Share saving tips to help each other, and as I said make a game of it. (more budgeting tips here) At the end of the month you will have developed better spending habits and reduced your spending by 40% in just one month. As you reduce your spending start up a Stash or Acorn investment account and watch your money grow and have fun doing it! It’s all a matter of attitude, if the spender learns how to enjoy saving and become wealthy at the same time than you both will live a happy and wealthy life. If not…there is always Bankruptcy (lol)!

If you have credit or money questions, please feel free to reach out to us!

Attila J. Thiry, CEO |  NATIONAL CREDIT RESOURCES        PH (844) 462-5700 or DIRECT (253) 227-2809                    EMAIL :  AJT@nationalcreditresources.com 

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