Comments on: Who is the Family Chief Financial Officer in your house?

By: J. Money

J. Money — Sat, 25 Sep 2010 23:42:35 +0000

@William – Hah! Good luck with that fight, people just like saying cheap so it makes them feel better about themselves ;) Lazy bastards, haha…

By: Kim

Kim — Fri, 24 Sep 2010 17:54:39 +0000

@ J. Money – It is :) Looking forward to a positive net worth early next year… long as the stock market cooperates on my 401(k)

By: William

William — Fri, 24 Sep 2010 17:00:12 +0000

I was blessed to marry a woman who is open-minded and was willing to learn good personal finance with me, but I know that this is the exception rather than the rule. In the United States especially, the culture seems to be focused on consumption rather than planning, which can’t end well. Most people just don’t seem to know how to find this information, and it really is a shame. Perhaps if more families had a CFO, the US would have a drastically different reputation.

My wife and I went through the process of budgeting, trimming the budget, streamlining the cashflow into our savings and then establishing a means of divvying up that savings between an emergency fund, retirement, short term savings and long term (taxable) savings each month. Things are pretty much automated at this point, and I’m thankful that so much of this information is available on the internet where I could access it for free. Now, if only I could convince her family that being frugal isn’t being cheap…

By: J. Money

J. Money — Tue, 21 Sep 2010 17:31:45 +0000

Gotta love a guy who knows how to save! There are a ton of us who do the opposite ;)

By: FB @ FabulouslyBroke.com

FB @ FabulouslyBroke.com — Tue, 21 Sep 2010 11:45:00 +0000

We both are. :) He handles his own personal finances and calculating the groceries etc..

I handle my own finances and the rent (for now) and invoice him at the end of the month.

We don’t combine our personal money at all, so whatever I track on my blog is just what I have. That being said, I am not worried about him not having cash AT ALL. The guy is a machine at saving…

By: J. Money

J. Money — Tue, 21 Sep 2010 00:41:22 +0000

Haha, you’re not alone my friend ;)

By: Andy

Andy — Mon, 20 Sep 2010 16:13:33 +0000

I like the comments! I too am the CFO, but the CEO is the missus. Luckily I am the only other employee so job security is good. But my performance has been average thanks to the economy and terrble stock market!

By: J. Money

J. Money — Mon, 20 Sep 2010 03:08:24 +0000

Haha, amen to that brotha.

By: Brandon

Brandon — Wed, 15 Sep 2010 15:04:42 +0000

That’s right. And now that I have the spread sheet created I can just start plugging in the new numbers. I love living in the future.

By: J. Money

J. Money — Wed, 15 Sep 2010 15:02:23 +0000

This was fun reading everyone’s responses :) Reminds me how much I love blogging – you never get this stuff out of people in “real life!”

@jolie – Haha yeah, there usually isn’t “Team CFOs” around as much as we’d like, but keep the dream alive!
@Chris Haviaris – Glad you enjoyed it ;) It’s a fresh way to look at things I think.
@momcents – Holy $hit, CONGRATS! $100k+ out of debt? That’s incredible. Wow, I’m kinda afraid to ask how you all did it, haha….
@Jenna – Good idea! It was just one of those press release kinda emails I get every day, but I just emailed him back and asked if it could be passed along to the author. That would be fun to hear his thoughts :)
@Techbud – Wow, good for you! Monthly is awesome, even we don’t do that :) I like sharing it w/ the kids too, not many parents do that but I think learning how it all works “in real life” make it much easier to understand.
@Brandon – YES! Well done, sir! It is scary, for sure, I remember that feeling myself when I first did it. Bleh. BUT now it can hopefully only go up, right? :) You have to *know* what you’re dealing with before you can start working on things – at least if you want to start tracking your progess.
@B Simple – Exactly – BOTH parties should be aware of at least the overall situation in case something happens to one or the other (Scary!!!). We try to “meet” at least once every other month to go over things a bit, but we need to be better about it too. Great reminder.
@Nick – Hahaha….I hear that brother :)
@FrugalGuy – Haha, looks like a bunch of us are in the same boat!
@Kim – See that? Way to take control! Congrats on all your success so far, that is wonderful :)
@John@FinancialElite – Haha, I love that you have the exact date down. Keep on knocking it out my man!!