AI Snips
Chapters
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Keep Allowances To Preserve Autonomy
- Keep small personal allowances for autonomy so neither partner feels controlled by the other.
- Track the rest jointly to maintain efficiency and avoid micro-managing spending.
Do Monthly Budget Meetings
- Hold monthly budgeting meetings and review spending together to align goals and adjust behavior.
- Expect the process to take around six months to smooth out disagreements and settle on a working budget.
Use 529s Only For Timely Qualified Expenses
- You cannot treat 529s like HSAs by saving receipts to reimburse later; withdrawals must be for qualified expenses in the tax year.
- If you overfund a 529, change beneficiary to another qualifying family member or use for your own eligible education.