Five Cent Nickel and Blueprint For Financial Prosperity have each set a goal for 2008 to develop a user's manual for their respective financial lives. The idea is to have a consolidated list of the accounts and policies that make up your finances (think retirement, savings, investments, debts, insurance, etc.), along with account numbers, passwords, and instructions on how to access the accounts. This is helpful for anyone, to avoid having to remember your own account information, but is particularly useful in the event that something happens to the household's primary financial manager. I'm the one in our household who manages the finances, and I would really like for Ms. Loonie to have easy access to this information if something happened to me.
Interesting Money wrote in November about several approaches to sharing this information with your spouse, and these posts all have me thinking about exactly how to set this up. I'd like to combine this idea with Big Cajun Man's periodic status reports, to work toward a general goal of improving the financial communication between Ms. Loonie and myself in 2008.
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