Welcome to the NRCHR website where we say, “Let’s Talk!” In other words, let’s start a conversation about what is going on in your lives when it comes to money, debt, and savings. In our experience, we’ve noticed that many people just do not open up and discuss money matters. And, you know what? Money DOES matter. It matters a lot.
Some of the biggest issues couples and families face is not knowing enough about money, and not being able to discuss such topics without arguments and resentment. That’s no way to live. We need to really learn to communicate with one another about this stuff. It’s important.
So, what to do… One thing we can do is to be honest about what we are spending to begin with. Each member of the family or partnership has to take some responsibility here. How about, just for starters, each person in the household write down EVERYTHING – and I mean every single penny – spent for a week. I don’t care whether it’s for a cup of coffee at the local gas station or a pack of smokes.
Then, at the end of the week, everyone get together and compare expenditures. Discuss why we bought what we did. Is there a way to save on what we spent? Is anyone in the family willing to support the others in helping make better choices? For example, if I want to save money and I spent so much on coffee or cigarettes, is it possible to make coffee at home to save a little, and to maybe change to a cheaper brand of smokes?
Same goes for groceries and the types of purchases made there. Can we switch to a generic soda brand versus a big brand? Or can we forego the steaks until they are on sale for a more competitive price?
Little efforts can go a long way. But, we need to start with open and honest communication. Thanks for reading.