The Money Conversation with LeapFrog Mortgage
Having conversations about money can be a difficult task for those struggling with finances. We understand. Whether it’s because of embarrassment, or just a lack of understanding, many would rather suffer in silence than seek help. That’s why LeapFrog has put together this quick advice list for handling your respective “money conversation”.
The first step is understanding that it’s better for you and your immediate family to have a full understanding of the current circumstances. Adopting this forward thinking method opens up a new world of possibilities in which all contributing parties can work more as a team. Read on to learn more.
Keeping Track of Your Finances
First and foremost, you have to be transparent across the board. Sit down with your husband/wife or significant other, and go over every financial obligation on the table. Of course, this takes a great deal of trust. So while it is necessary, make sure all parties are committed to doing their part in earnest.
Once you’ve determined each “team members” role, begin dividing responsibilities accordingly. In the event of any unforeseen circumstance, these safeguards will keep things afloat. This can help you avoid massive stress and setbacks.
Managing Your Digital Records
As with most avenues in today’s world, a lot of your pertinent information, and subsequent resolution methods, can be accessed digitally. That said, with such precious data in the balance, most of these accounts come with extensive protections. This keeps your financial records safe and sound from unwanted prying parties.
This is a great safety measure, if managed well. But if you’re the only one with access to these accounts, things can get complicated fast. Once you’ve established that trust with your “team,” it may be a good idea to grant them access to these accounts should any hiccups occur.
Developing Your Budget Management Schema
Another great tip is to use your “team” to develop solid budget tracking. This is something to practice even when you’re working as a group of one. But having a second, or possible third pair of eyes on your budget helps to stack the odds in your favor.
It’s also good for your trusted “team members” to know the location of all pertinent documents. Things like your medical history, and documents related to your identity, and more fall into this category. Should a medical emergency, or worse occur, at the very least you know that your family is protected and informed.
LeapFrog Mortgage
These tips and tools help to take the strain off of your day to day finance management. Use them well, and you’ll never have to worry about having that “money conversation.” And if you ever find yourself in need of more guidance, LeapFrog is here.
We pride ourselves on keeping a “team” of our own. Our lenders are knowledgeable, supportive, and straightforward. And if you’re currently looking for support when it comes to securing a mortgage, then look no further. Contact us today to learn more.
