Determining your Money Goals

by Debbie Vasen | More from this Blogger

18 Oct 2007 09:17 PM

When you first get married you don't typically choose a mate because you share the same money goals. Once the passion shifts and reality sets in though, you do learn that coming together in a marriage means coming together financially. The main step to success in this merger is to derive a clear set of mutual monetary goals.

This process can be complicated and emotional. It goes beyond the marriage to personal and family goals. Arriving at a consensus can often be a struggle. Let the following tips help you better determine your vision as a couple.

1. Start by creating a family mission. This will be a general statement about your vision for your future. It does not have to specifically financial in nature. Let your imagination and discussion carry you to a basic long range mission.

2. Start to break down this mission into specific goals and priorities. Include both long and short range goals as well as some of the steps it will take to get there.

3. Then start to break these goals into levels of importance. You can actually give them a numerical rank to show your number one goal and on downwards.

4. Once you have a list of goals that are derived from your basic vision, then place a time frame around each one. Some will be accomplished that year while others might take years of planning.

5. Use this list to create a budget, ensuring that your daily money strategies match with your goals and visions.

In addition, whenever you have a special purchase to make or a big financial decision, pull out this list of goals. Reminding yourself regularly of your dreams as a couple can help you stay focused on your priorities, instead of arguing about little details that may make very little difference in the big picture.

Related Articles:

*The Importance of Honesty and Finances in Marriage

*Stop Fighting About Money

*Financial Goals for Marriage

Learn more about Debbie Vasen

Debbie Vasen is a published web content editor and writer, as well as a freelance writer for various print publications. In addition to blogging at Families.

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