Welcome to another installment of the Centsible Life Family CFO interview series. This series will share a look behind the scenes at how other families manage their money with useful advice, funny stories, and hopefully we’ll all come out of it a bit more money savvy.
Want to be featured as a Family CFO? Simply click over to the interview form and fill it out. It should only take you about 5-10 minutes. I’d love to feature readers and fellow bloggers alike. If you have suggestions for additional questions I’d love to know what you’d like to ask.
This week Hope Horwitz from Make It as a Mommy. Hope blogs about once a month while managing a full-time career, marriage, and two sweet little girls.
Q: Do you currently work or stay at home?
Q: Do you have kids? If so, how many and what are their ages?
2 kids, both are girls. One is 3 and one is 8 months.
Q: Who is in charge of everyday spending in your home?
It’s 50/50 – he does more food shopping and I do everything else.
Q: How do you track your finances?
Online bank accounts – I watch the statements.
Q: How do you track your net worth?
No idea – my husband knows!
Q: Do you create a budget?
Yes, a monthly one as opposed to a weekly budget.
Q: How often do you check your accounts?
Q: How often do you assess you spending and budget?
A few times a year.
Q: What’s your biggest challenge when it comes to your finances?
We built some debt when my husband was a financial planner (ironic, I know) so now we’re paying it off but we’re both working and I really feel like we have money, but we don’t until it’s paid off. Frustrating to be bringing home a pay check and still feel broke.
Q: What has been your biggest success financially?
Getting a job!
Q: Who is in charge of the managing bill paying in your home?
My husband just took it over but I had been doing it for years – hated it! 🙂
Q: When you and your spouse disagree about a financial issues how do you come to a compromise?
Compromise? We usually just come to be talking about the same thing – arguing the same side. Don’t know how it happens. That or we just say, enough.
Q: What is the best advice you have for being a successful CFO of your family?
Stay on top of it – remember from day to day so there are no surprises.
Managing it All
I am always in awe of families who manage two full-time careers and young children. It sounds like Hope and her husband have a good balance of responsibilities which is key to making it work. Splitting up the chores is a great way to make sure it all gets done.
Paying the Bills
While Hope freely admits she hates paying the bills I think it’s great that she was still responsible for them for a period of time. Too often one partner in the marriage takes on that role while the other one has no idea what accounts need to be paid and when. It can be problematic in so many situations so I always recommend that you take turns even if you loathe it, so you know exactly what you’re paying out on bills, and how to pay the bills.
Being on the Same Page
I think it’s wonderful that Hope and her husband have been able to compromise so easily. It’s clear they have the same values and when it comes to money they must have clear goals.
Thanks Hope for sharing with us! If you have any questions for Hope leave them in the comments.