Financial Summit

I'm the last person who should ever give financial advice. The LAST person. I often joke that my hubby is the CFO of our family and I'm the CSO: Chief Social Officer. (It was a unanimous decision by the board.)

But early in our marriage, the Mr. initiated quarterly Financial Summits. I've capitalized the phrase because it's a significant event in our house. A proper noun -- just like Christmas. But not.

It started as something I dreaded. Each quarter, we'd walk through our finances and pinpoint just where our money was going (JCrew) and where it wasn't (savings). I was forced to face the shameful stares. The frustration. The self-doubt: How could I have bought that extra pair of heels with the Summit approaching? Stupid! Stupid! Stupid!

But, amazingly, it's turned into something that I actually, gulp, like?

Since we've started the Financial Summits, the debt is nearly gone (aside from the house and that pesky 2% MBA loan) and we actually know how much money we need to retire.

At this point, those of you who know me are probably staring at your computer with a perplexed face. Allow me to reassure you, this is Kat's take. You're reading the right blog.

I know there's some wacky stats out there about the number of married couples who fight about money. I know that the number of Americans who save is less than 1%. In short, Americans' waists are getting fatter and our wallets are getting smaller.

The Financial Summit may not be the right way for you. But find a way. Don't owe the man. (And, if you do use the Financial Summit, let me know so I can trademark it. I've got a student loan to pay off!)