The U.S. Constitution is more than a founding document. It is the basis of all our decisions as a nation. This Constitution Day, we’d like to honor that great document with a suggested constitution for family finances… one designed to set you on the path to financial harmony.
Article I – Decision Making
To serve as a Representative, a family member must represent the best interests of the others, making this a House of Representatives that honors the needs of the family above their own.
No family member shall serve as a Representative without attaining the age of at least 18, having graduated high school and contributing income to the best interests of all.
The House shall choose a Speaker who will have the power of making final decisions when the remainder cannot agree. After a debate of the issues, where the opinions of all Representatives are carefully weighed, this Speaker will decide the correct course of action, seeking understanding and support from other Representatives.
Each House Representative shall have one Vote on matters of personal finance.
No Preference shall be given to one Representative over another.
Representatives shall assemble to discuss matters important to the financial wellbeing of the House.
No Person shall be a Representative who does not contribute to House finances or who is not an inhabitant in the House affected by the financial decisions made.
The House shall assemble at least once in every Year to address financial goals.
The Speaker shall have a Vote in the financial decisions of the House and shall make final decisions should a vote be equally divided.
The family shall choose a Secondary Speaker to serve in the Absence of the Speaker, who shall exercise the powers of the Speaker when he or she cannot do so.
When Representatives gather to make financial decisions, they shall constitute a Quorum to attend to House financial matters. A smaller Number may adjourn from day to day, and may be authorized to compel the Attendance of absent Members, in such Manner, and under such Penalties as each House may provide.
Each House may determine the Rules of its Proceedings, punish its Members for disorderly Behavior, but shall remember the emotional ties that strengthen the House in doing so.
Each House shall keep a Journal of its Proceedings, and from time to time publish the same, and the Yeas and Nays of the Members of the House on any question.
No Representative shall, without the Consent of the others, adjourn for more than three days.
Representatives shall receive Recognition for their Services, to be ascertained by the House. For any Speech or Debate in either House, they shall not be questioned in any other Place. House matters shall be discussed in the privacy of the home where each Representative may speak freely without condemnation.
All Ideas for improving House finances shall originate in the House of Representatives.
Every Idea agreed upon by the House Representatives, before taken to action, shall be presented to the Speaker for approval. The Speaker may return the idea to the House for discussion, noting objections. If after Reconsideration, the House decides to act on an Idea, it shall be sent, together with the Objections, to the secondary Speaker. If the Secondary Speaker agrees, the Idea shall be put into action.
If any Idea is not be returned by the Speaker within ten Days after it shall have been presented to him or her, the Same shall be put into action as if the Speaker had approved it.
Article II – Financial Contributions to the House
All financial Contributions shall be shared mutually among those who contribute to the household finances.
Contributions to living expenses shall be apportioned among the Representatives in this House.
The Speaker shall have Power To lay and collect Monies needed to pay the Debts and provide for the common Good and general Welfare of the House, but all Apportioned Expenses shall be uniform throughout the Representatives of the House according to each Representatives ability to contribute.
No Money shall be drawn from the House Treasury without a regular Statement and Account of the Receipts and Expenditures of all House Money.
Article III – Financial Harmony
Each Representative shall respect the wisdom, financial goals and opinions of the others.
When vacancies happen, due to no fault of a Representative, the House shall remain supportive and help the Representative return to fulfilling his or her role in contributing to House finances.
The House shall remember, especially during times of financial struggle, the emotional connections that bind them, acting with compassion, tolerance and financial responsibility for the welfare of the House as a whole.
Write your own family Financial Constitution to help you focus on a brighter financial future!