I don’t know anything about this, so this is a great question for the helpful, intelligent people who read this blog. What do you do when your other half—spouse, girlfriend/boyfriend—has a totally different view of personal finance?
Let me give you some background:
My girlfriend and I have been together for four, almost five, years. A long freaking time, considering that I’m only 21. It’s pretty much understood that we’ll be getting married after we graduate and get our careers, etc., in order.
When this will be, I don’t really know. I enjoy the power trip from knowing I get to decide when to give her a massively overpriced piece of dinosaur dung! Back on topic…
We see money in a totally different way. She sees spending potential. I see growth potential. She’s not super spend happy as in “I want to charge everything at 20% APR,” and I’m not exactly the kind of person to live on Ramen to max out a retirement portfolio.
She’s all about the whole flat trajectory kind of thing. Consume early and often, but save enough that you have a slowly improving standard of living.
As for me, I see the 20s as a period to get ahead—a time for serious asset accumulation to set a very nice path by the time we’re 30. I want to be “set for life” before I get grey hair.
If there’s anything I’ve learned from economics it’s that abstract charts solve everything. This may help put our differing views in perspective:
Her: healthcare. Me: finance.
Making this short and sweet, combined earnings should be just fine. Living expenses here are so unbelievably low. Earnings potential for the two of us is above average.
Pretty much zero.
Questions for you
- Do you and your significant other have money differences?
- What do you buy that gives you a good return in the form of a better standard of living?
- How can I meet in the middle with an emphasis on asset accumulation and maintaining a real standard of living? (If it were up to me, I’d live on $30,000 a year and invest the remainder.)
Photo by: Peter Pearson. Nope, that’s not us. 😛