Personal Finance (Not Investing) • EOY Report on Personal Finances for Spouse

I handle the bulk of the personal financial management load and every year I write up an End of Year Report for my spouse. We then go through it discussing each section, answering questions, making future plans, etc. I also attach a copy of the report to the end of the "In Case of Death" file I keep with all our financial info/plans for if I'm suddenly not around to execute on all of it.

Right now, the document covers:

• Spending vs. Budget by Category for prior year
• Budget by Category for next year
• Two-Income Trap Evaluation (see if/how we'd survive on just the lower of our two salaries)
• Charts showing how our income and spending has changed over time
• Earnings summary
• Mortgage status
• Net worth status
• Charts showing how our net worth has changed over time, broken out by account type
• Retirement projections

Is there anything else I could include to ensure it is as holistic as possible? Anything else you make sure to discuss with your spouse about your finances?

Statistics: Posted by BattyNatty — Mon Jan 13, 2025 2:45 pm — Replies 4 — Views 256

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