Money is one of the hardest aspects of marriage to control. We all want to be hyper-focused on saving and investing. However, especially in marriage with kids, all sorts of events happen that may derail our plans. The main point I am trying to convey is: Set realistic goals.
Today, I was out on my 3-mile run. I was heading home and I remembered that it has been a while since I had bought my wife a Hot Iced Macchiato from McDonald’s. Over the years we each have had a special drink. I like Iced Caramel Macchiatos and she likes the Hot version. In our younger years, before we were super financially savvy, we would get coffee every weekend.
Now, we know it is an absolute waste of money. However, part of being married is doing special things for your spouse and children. Even your parents. Yes, I could have invested that $9 into the stock market. But, it felt really good to go back to our old school days.
As family people, we need to be very careful to set realistic goals, personally and financially. In this case, I will focus on financially. If I budget everything out and I know that I will have $2000 of free cash, I will put $1000 into my investment budget. The goal of course is to invest the rest of the $1000 as well. However, when you have a family, something ALWAYS comes up. When you own a house, something ALWAYS comes up. When you are close to your family, something ALWAYS comes up. You do not want to be stressed out every time something doesn’t go your way. Allow some unallocated cash for non-emergency events.
We recently had a squirrel get into our attic. The cost to trap it and then seal everything up was $1400. I wasn’t even mad. That’s part of life. 10 years ago, that would have killed my soul, but accepting that crap happens is the first step into living a less stressful life. The best part about investing is that if you can’t invest for a month or two, your money is still working for you.
I see a lot of single YouTubers saving and investing 80% of their income. Also, they are working tons of hours to get ahead. I applaud them. The best time to grind is when you are single. If you have a family you are not in that boat. Families require time, money, and patience. Financially we will be behind the single people. However, man does it feel good to have a successful family. The kids are doing well. They already have a house for themselves, bonds, and investments. My wife loves me (I hope) and she has her own investments growing. I am 70% done with a 30-year military career and feeling great. It just feels go when everything starts to click. We have had many sleepless nights. Many nights apart because of the military. My wife had our second child when I was in Afghanistan. But, let me tell you, it feels good to keep it all together and come out on top (and still growing).
Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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