MONEY MANAGEMENT

Men and women spend and save very differently. Is it true that men are more astute? How do you deal with the differences in your own life?

There are differences to how guys and girls spend their money. As a new dad, I’m thinking about how to save up to send our boy to school, while my wife is out buying cute shorts and tops so he can wipe his dirty fingers on his new clothes. Seriously, that’s all he uses his clothes for.

I don’t think this disparity between the sexes is that uncommon. I may think that saving is a priority; however, my wife is right too – if I had my way and dressed our son in old pillowcases, social services might come knocking.

What we both agree on is that we need to save for our future. Before, we really didn’t know what that meant. Then, I found the idea of F.I.R.E. (Financial Independence, Retire Early). If you google it, you’ll find stories of people who saved up and stopped working young, and are now writing the great Singapore novel, or just playing Fifa all day. Either way, it’s about freedom. Now my wife and I know what we’re saving for, and how much to save. The best way to do that is to find a number that will give you financial independence in the future and aim for that, and watch as your excess spending on lattes, taxis and cute tops suddenly drops.