The Wishlist, or how I got my SO to manage money.

So, I’ve been struggling for years to get my SO to understand money. Her problem is pretty common: she has a mental disconnect between the money she has, and the money she can spend. So, either she gets money anxious even if she’s doing ok, or she just buys whatever she feels like, without control.At first, I thought keeping a good record of expenses would help. That helped, but the problem persisted. But finally I found the clue: the Wishlist.The Wishlist is just a trick to show savings as “things to buy”. Take your monthly savings, subtract the % you want to save for retirement or whatever, and put the remaining as a “deposit” at the wishlist. Put this “deposit” in an Excel sheet (or similar), and allocate that money to elements on the wishlist as you please. Once you reach 100% of “funds” for something on your wishlist, you’re good to buy it.For us, it worked like a charm. For her, “I saved $1000” meant nothing in her mind, but “I saved enough to buy that purse” works.It’s also helping me, btw. I got flashed by a speed camera yesterday, and I already “wishlisted” the money for the fine, so I have peace of mind on wether I can pay the fine and buy other stuff.It’s not a revolutionary idea, but maybe it can help other people – sometimes it’s the simpler things. via /r/PersonalFinanceCanada https://ift.tt/3sdee2p