Relationship
How to deal with an overspending spouse
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• Time to do some management
So how do you deal with a spouse who seems to blow money at the slightest whim? Be as gentle and as loving as possible, but assertive in your mission. Here are steps you can take to deal with an overspending spouse and improve your situation.
Changing your spouse’s spending habits may seem like jumping a giant hurdle, so it is best to take the process in baby steps. Follow the procedure below in order to minimise the stress of taking on this large and often intimidating task.
Approach your spouse lovingly
Do not begin by accusing your spouse of wrongdoing or by pointing out faults. Deserved or not, this sort of treatment will only drive a wedge between the two of you and make it harder to communicate. Instead, approach the subject in a loving manner.
For example, explain that you want to start monitoring spending habits as a couple, and then start a discussion from there. Another tactic is to discuss ways to save up for something really important like retirement. Drive home the point that you are a team in your financial efforts. Otherwise, your spouse may resort to lying about spending money to you.
Set up a budget
If you have yet to make a budget, take this opportunity to set one up together. Sign up for an account with Personal Capital. The tools they have will make it really simple to start having productive conversations about where the money is being spent. If you do have one, this may be a good time to revisit it and possibly revise it. Work together with your overspending spouse to figure out what your total income is and what all of your expenses are. If you can show your spouse that money spent on frivolous items is causing you to go into debt or preventing you from saving, you are on the right track. However, it’s ideal if through the creation (or revision) of your budget, your spouse can come to this conclusion without you having to point it out.
Decide on how to control spending
If you were able to get your spouse to see the error of his or her ways, that was at least half of the battle. Now, you need to help control the spending. One way to do this is by allowing both of you to only spend a certain amount of money each pay period. I recommend using the envelope budgeting system because it utilises cash to hold you accountable to staying on budget. Once you have spent your cash, you are out of money.
Set realistic goals
Once you have talked to your spouse, set up a budget, and decided on a method for controlling spending, it’s time to look at your long-term financial goals. You both need a reason for sticking to your budget and need something to work towards. Do you need to get out of debt? Make that your first goal. Do you need to save up an emergency fund or start working towards saving for retirement? Those are also very important goals.
Tip: While you create financial goals, it’s also a good idea to make goals to strengthen your marriage, such as planning frequent date nights.
Hold regular financial meetings
Reaching your goals will be a process, and if your spouse has a habit of overspending, it may take some time to break. Hold regular financial meetings to monitor and discuss your progress. You may find that some months you regress, but most likely, you will see an emerging trend of improving finances. Use this information and the meeting time as a chance to praise your spouse and encourage each other to keep working towards your collective goals.
To be continued…
1. Talk early and often
It is never too early to start talking with and listening to your children about the first day of school. Ask them what they think school will be like and see if they have any specific concerns so that you will have time to address it over the next couple of weeks. It is totally normal to have first day jitters.
2. Go to the orientation
If your child’s school is hosting an orientation or back-to-school night, take advantage of it. Often children are worried that they will not know how to get to the bathroom, where to eat lunch, or how to get to a locker. If your school does not offer one or you are unable to make it, ask the teacher if it would be possible to stop by for a visit. Teachers are usually in their classrooms prepping for the new school year in advance.
3. Meet the teacher
For kids, wondering if they will like their teacher is a big source of fear. If your child isn’t comfortable in the teacher’s classroom, he or she will be less likely to be ready to learn. Many teachers will make themselves available for a phone or video call or will return an email if a visit is not possible.
4. For younger children, read books or watch educational cartoons
In August, local libraries will often display books about starting school or going to a new school. These materials can help children read about and see what a typical day will consist of and what they will learn in school.
5. Take your kids shopping with you
Your kids will be more excited to use their back-to-school supplies if they picked them out. Doing so will help them feel prepared and will also provide an opportunity to talk about how the new supplies might be used in the coming year.
6. Set up school “zones” and establish clear expectations
At home, establish a location for school materials such as a place to put backpack and lunchbox, and set up a distraction-free homework zone (like the kitchen table with the TV turned off and phones/tablets put away). Set up homework and study times (for example, Monday–Thursday from 3:30–5 pm) to help manage expectations and build and maintain good routines.
7. Practice your new routine
Both children and adults can benefit from practicing the new school routine one to two weeks before school actually starts. Stage a morning dry run to see how long it takes you and your children to get out of the door in the morning. It will not only help you predict how early you and your kids need to get up, but your children will benefit from learning what to expect each weekday.
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Having a good relationship with your child’s teacher will make it easier for you to share concerns and work together to help your child thrive. Here are some tips for building a partnership. Here are some tips to help parents build a good relationship with their child’s teacher.
1. Meet with the teacher and staff early
Teachers are usually swamped at the start of the school year. But try to meet as soon as the teacher can. At your first meeting, find out how the teacher prefers to communicate it can be either by phone, email, or some other method.
2. Help the teacher get to know your child.
Sharing information is key to a good parent-teacher relationship. Tell the teacher about your child’s interests, strengths, and challenges. If your child has an special need, make the teacher a aware, and let the him or her know about situations outside of school that might impact your child’s learning or behaviour.
3. Be respectful of the teacher’s time.
Be on time for appointments, whether they are phone calls, video meetings, or parent-teacher conferences. Try to wrap things up within the allotted time. The teacher may have other parents scheduled after you or other meetings and commitments. You can always set up another call to finish up.
4. Recognise the teacher’s efforts.
If you are meeting in the classroom, look for displays of students’ work or teaching materials that you can compliment. If you are somewhere else, start things off with a positive statement, like something your child enjoys about the teacher’s class.
5. Never talk negatively about a teacher in front of your child.
Showing your respect for a teacher will set a good example for your child.
6. Participate in school events.
Take part in school events when possible. This shows that you’re part of the school community and want to be supportive. Offer to volunteer in a way that works for you, whether it’s at school or at home on your own time.
7. Say “thank you.”
Show your appreciation for the big or little things the teacher and other staff do for your child. Thank-you notes and emails can go a long way toward building positive relationships.
