Budget the Luxuries First!
Strictly speaking, his advice was preceded by another Heinlein maxim as well. "Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness of debt eats up domestic felicity." Today, that advice gets abused eight ways to Sunday, as the average household is currently carrying credit card debt to the tune of over $10,000. Assuming an interest rate of 18%, this works out to about 150 bucks a month going to the credit card company. That's money NOT available for things like fresh flowers on your desk... new skis... upgrading to gourmet coffees and wines for daily consumption, or dinner out (including tips and babysitter).
Luxury item #1: Get out of consumer debt
Being debt-free is an incredible luxury! There are a ton of books and articles out there already on how to budget and avoid debt, so I won't hold forth on how to do it. The important issue is WHY to do it. And the answer is simple. Peace of mind is the ultimate luxury!
Luxury item #2: Make some time to make a wish list!
While putting the wheels in motion on reducing debt, there's a happier issue to think through as well: What is it you really want out of life? Peace of mind (and of household) starts with asking these Really Big Questions!
More importantly (assuming you actually care about your relationship), what is it your partner craves? If you don't know, well... it can be fun finding out. Too many financial planning exercises are painful, which is why not enough people do them. This exercise, finding out what really matters to you both, isn't.
What are the things in life that really feel like luxury to you? Now is the time to identify them, and separate out the smaller, less satisfying things you're paying for that keep you from getting what you really want.
To keep to the spirit of fun, I've found it's useful to agree to some simple ground rules:
- Make some unbroken wish list time for the two of you
- There are no such things as 'silly ideas' or 'waste of money' items during the wish list time (that will come later on during a reality-check period)
- No impulse spending during the wish list time! Window shop if you want, share a seat in front of the computer if you're looking online... my preference is to go hang out in antique markets and bohemian shopping districts for ideas, but you might prefer to go visit a travel agent's office or web site. It DOESN'T matter!
- Each partner gets equal time to show off their ideas if they want it.
Being realistic, there will, of course, be a price tag associated with the wish list. Also being realistic, not all luxuries cost an arm and a leg, either. If you have the iron will to make a strict budget and do without so that you can go hang out in Tuscany for a month next fall, good for you (and yours!) If you're like me, though, it may make sense to make do with lesser luxuries.
Luxury item #3: Keep looking until you find reasonably-priced luxuries that really make your life more worth living, then revel in them!
That's all it takes. If you get this far, you've done a few extremely healthy things. For starters, you've actually talked to your sweetie about money, without it being a crisis! You've spent some time dreaming together. You've examined your debt and thought about what it's costing you. And with any luck, you've found at least one thing you can enjoy without feeling guilty about what it's costing you... because it's an investment in your piece of mind.
--
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About The Author
© Andy White, budget guy for Coudy Coffee - because life is too short for mediocre coffee. For gourmet coffee and espresso; coffee gifts, information and resources, visit http://www.coudycoffee.com.
 Google News Updated : Wed, 09 Jul 2008 07:08:13 GMT Hunger for victory defines Obama - Financial Times
Financial Times - By Edward Luce in Washington When Democrats criticise John McCain, they first praise his honourable military record. When Republicans do the same to Barack Obama, many begin by conceding that he is an “attractive and talented candidate”. Video: AP Campaign Minute McCain, Obama Trade Early Fire in TV Ads Publ.Date : Wed, 09 Jul 2008 04:54:07 GMT Cheney's staff censored EPA, ex-official alleges - Boston Globe
Boston Globe - WASHINGTON - Members of Vice President Dick Cheney's staff censored congressional testimony by a top federal official on the health threats posed by global warming, a former official of the Environmental Protection Agency said yesterday. Cheney’s Office Said to Edit Draft Testimony on Warming White House in climate change "cover up" Publ.Date : Wed, 09 Jul 2008 05:36:02 GMT McCain, Obama court Latino group - Los Angeles Times
Los Angeles Times - Sen. John McCain addresses the League of United Latino American Citizens in Washington, DC. today. McCain plans to tell the Latino advocacy group that the nation must secure its borders "while respecting the dignity and rights of citizens and legal ... Candidates talk up Latino connections Candidates woo Hispanic group Publ.Date : Wed, 09 Jul 2008 04:56:13 GMT VMware Ousts CEO Diane Greene - BusinessWeek
BusinessWeek - by Aaron Ricadela VMware ended a long-running battle over its strategic direction on July 8, ousting co-founder and CEO Diane Greene and installing Microsoft veteran Paul Maritz in her place. EMC Replaces the Chief and Co-Founder of VMware, Silencing Talk of ... VMware CEO abruptly replaced Publ.Date : Wed, 09 Jul 2008 05:13:27 GMT Cheesesteaks, troops withdrawals and cigarettes that kill Iranians… - FOXNews FOXNews - by Mosheh Oinounou PITTSBURGH, PA - Sen. McCain, joined by his wife Cindy, made a previously unannounced visit to the Primanti Brothers Restaurant and Bar, a famous Pittsburgh-area sandwich shop, Tuesday evening for a retail stop-turned media ... Caution: Can Iran cigarette jokes be dangerous to McCain's ... McCain jokes about killing Iranians with cigarettes Publ.Date : Wed, 09 Jul 2008 02:11:13 GMT Reiser deal ultimately hinges on judge's OK - San Francisco Chronicle
San Francisco Chronicle - (07-08) 17:14 PDT OAKLAND -- The defense can ask for a deal in a murder case like Hans Reiser's, and the prosecution can sign off on it, but it's the judge who has the final say. Reiser takes plea deal for lesser sentence My interview with murderer Hans Reiser Publ.Date : Wed, 09 Jul 2008 06:23:31 GMT Iran test fires long and medium range missiles - Reuters
Reuters - By Fredrik Dahl TEHRAN, July 9 (Reuters) - Iran has test fired nine long- and medium-range missiles, including one which it has previously said could reach Israel and US bases in the region, state media reported on Wednesday. Iran Test-Fires Missile Capable of Reaching Israel (Update1) Iran test-fires Shahab-3 long-range missile Publ.Date : Wed, 09 Jul 2008 06:02:53 GMT Increased Web Site Traffic |
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