My friend, Sean Stickle and his wife, Jill Foster, were featured in a Washington Post article today on finances of couples: I Do, but You Don’t:
“She is the financial manager of the family, and to the extent that we are financially secure, it is all her doing. I contribute mostly by not screwing it up,” he said.
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In January 2006, they had an epiphany. Despite having declared saving for retirement as their priority, they spent $11,000 on restaurant meals the previous year. “We were living a contradiction,” Foster said. Foster became even more of a strict financial manager. She started using Quicken to keep track of all their expenditures. She made sure 12 percent of their income went toward retirement. She cut their restaurant budget to $1,500 a year.
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In January 2006, they had an epiphany. Despite having declared saving for retirement as their priority, they spent $11,000 on restaurant meals the previous year. “We were living a contradiction,” Foster said. Foster became even more of a strict financial manager. She started using Quicken to keep track of all their expenditures. She made sure 12 percent of their income went toward retirement. She cut their restaurant budget to $1,500 a year.
Related: I Want My Coffee – Backyard Wildlife-Raptor – Retirement Savings Survey Results – Get Your Own Science Art – Malcolm Gladwell and Synchronicity
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