The Spending Dilemma: Women vs. Men

The Spending Dilemma: Women vs. Men
Teresa Theriot, Founder of www.thebudgetqueen.com

There is a common complaint that I receive from male clients about women spending too much money. Yes, it is true that women do the majority of the shopping for the household, so men assume that they are the one's spending everything, especially when all of the money is gone at the end of the month. However, men make up for the daily spending with their large purchases, such as flat screen TV's and four wheelers. From experience with many clients, men and women are equally responsible for their financial status. So, they both need to make a commitment to be part of the solution.Women are generally responsible for the groceries, household supplies, and items for the kids. They seem to spend so much money, because they do, just not much on themselves. It is rare that women actually buy anything for themselves because they hold a level of guilt about spending money when their spouses never seem to. Aside from the occasional clothing item, in general women are fairly frugal. Men never seem to need anything, they appear to be very low maintenance, and seem as if they never spend a thing. However, what a man doesn't spend on a day to day basis, he makes up for with his large purchases. In reality, men do just as much damage as women.Although their spending habits are different, a simple budget can be the solution to financial success and happiness. A budget is necessary to ensure that couples are on the same page and working towards a common goal. For many couples a mediator or financial adviser is necessary to get through building a budget and financial discussions, but is worth the investment. If you can get through it, you will reap the benefits for many years to come.

Start by listing your bills by the due date. Add them all up and decide if you are spending more than you make or making more than you spend. You or your spouse may need to acquire another source of income to make up the difference. Cut out little wasters of your money like book clubs, magazine subscriptions, and gym memberships that are rarely used. Once you have trimmed the access fat off your budget, consider your long term goals and calculate what you should be saving each month. Add that into your budget.

Whatever income is leftover can be divided into an allowance for each person. Then the woman will know exactly what she can spend on her self each month and the man can save for his allowance for his big boy toys. Once you start to put your budget into action and enjoy the benefits, you will feel at peace knowing that you have control of your finances.

Teresa Theriot is a stay at home mother of three children. She is an expert on saving money and founder of www.thebudgetqueen.com.