Budgeting as a Couple

In this short clip, Agnes explains how couples can approach budgeting, from calling creditors directly to set up affordable payment plans instead of paying a debt relief company, to using financial counseling when a couple cannot agree. She stresses compromise and putting living expenses and children first.

Takeaways

• If debt is heavy, you can contact credit card companies yourself to settle or set up an affordable payment plan rather than paying a debt relief company.
• What counts as an extra expense differs for each partner, so budgeting works best when both sides compromise.
• Living expenses and children come first, then set a share of income toward their education, retirement and future goals if you can afford it.

Conversation and opinion, not medical, legal, tax or financial advice.