Fireside Topic: How do you manage money?

FIRESIDE TOPIC: HOW DO YOU MANAGE MONEY? - WOLF AND IRON

Being that finance management is such an everyday part of life, you would think it would be taught in school. Whether you’re robbing stagecoaches like Jesse James or working the 8-5 in a corporate office, every man should take money management seriously. However, most enter into their adult life without the sound principles of saving and thrift and the tools necessary to be financially successful, leaving them learning a hard and expensive lesson.

This is a great topic of discussion because the guys that really have it together are generally eager to share their methods and the rest of us can benefit fairly quickly from a few tips. More than anything, self-control with spending is key, but using the right software, having weekly check-ins with the spouse, and some long-term strategies are also important.

You might be surprised to find that it isn’t always the older guys that have the best habits with finances, though in most cases the ones that are a little farther down the road have the most wisdom to share. Managing finances through all of the turmoil of child rearing vs. the single life or double income, no kids is very different.

Here are some things to think about:

  • Do you have a realistic budget?
  • How do you track your spending?
  • How are you saving for short-term goals?
  • How are you saving for long-term goals?
  • What are your views on debt?
  • Where does your income go?
  • Where can you cut back?

- Fireside Topic articles are interesting topics to get men talking. Find a few friends and throw a question out there and see what develops. Read more here. -

 

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