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Knyteguy, you use "we" a lot, but how much of this is a true team effort? Are both you and your wife fully onboard with "kill debt, set up a comfortable, sustainable budget that allows some flexibility to make that house down payment happen?" Holding each other accountable (in a smart way) for those stupid, bleeding purchases that didn't really need to happen is key, as is doing a budget review and adjustment every month together. How involved are each of you in the financial matters of your family? When you both have responsibility and visibility into all areas of your finances, that accountability can then turn into encouragement as you make progress on your debt. Use your strengths and differences and apply them to your finances. For example, I pay all the bills because i'm more of a spender mentality, and she does the checkbook balancing / end of month savings allocation of excess money that wasn't already allocated for a savings goal because she's more of a saver mentality. We are equally responsible for entering in purchases/bills to the checkbook, and making sure that it matches with the budget on a realtime basis. At this point we don't do an every month dollar by dollar review, but we do discuss short term savings goals or planned larger purchases / car maintenance / etc on a frequent basis, so she can keep them in mind for the next budget cycle.
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Nov 27, 2013 15:06
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| # ¿ Apr 27, 2024 15:19 |
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