If it isn’t already, paying off debt needs to become your number one priority! When you live with debt, you are literally risking the roof being stripped away from your family. Living with debt is making you rely on someone else’s money for survival.
It’s time to become more self reliant and start paying off debt!
You probably don’t even realize it yet, but chances are you are living with a few subtle habits that are eroding the stepping stones for you to start paying off debt. Let’s shine some light on those habits to help you quit!
Our Debt Free Story
Back in 2012 there were two major goals hubby and I wanted more than anything! We wanted desperately for me to be able to quit my job to be a stay at home mom. We wanted to buy our first home in one of the most expensive cities in the country in order stay close to family.
The problem was that we owed over $20,000 in debt and those payments we were making made it impossible to put money into savings.
That’s when we realized we couldn’t move forward with any of our life goals with that debt weighing us down!
After a couple years of trial and error, we realized we had a few bad habits that needed to be broken if we wanted to get ahead of our debt!
3 Habits Holding You Back From Getting Serious About Paying Off Debt
Stop fighting about money with your spouse!
First and foremost, you need to get on the same page about finances with your spouse! You both need to have a clear picture of where you want to go. If you don’t know where you want to go then it’s impossible to know which path to take!
That is why so many couples can’t seem to look eye to eye when it comes to their finances. Sit down together and write out all your dreams for the next 1, 5, and 10 years. Then come together to figure out your financial action plan to start making those dreams a reality!
Once you both realize that these financial steps are actually getting you closer to what you both prioritize in life, it’s a lot easier to stay motivated and pay off that debt!
I created a Financial Unity Workbook to help you through this process quickly and painless.
Stop eating out and start meal planning!
You’re gonna need to find some extra cash to start suffocating that debt. The fastest way to find that cash is to take a look at how much you are spending on food each month!
CNBC last year reported that the average American household on average spends over $3,000 a year on eating out! Crazy! That doesn’t even include how much food waste (which equals wasted cash!) is happening within the home.
How much faster would you pay off your debt if you had an extra $3,000 this year? And that’s just the start!
Meal planning is the fastest way to cut back on eating out and to save money on groceries!
Stop swiping the plastic!
I sure hope I don’t need to tell you this but if you want to start paying off debt, it’s going to help tremendously if you stop building more and more debt. So just stop it!
It has been statistically proven that shoppers spend less money when they use cash. That has turned out to be 100% true for our family.
Before we switched to cash we thought we had a budget in place but every two weeks we would overdraft our bank account! But after we switched to our cash envelope budget it was like magic! We could stick with it!
Sticking to your budget is going to be paramount when it comes to paying off debt for your family! Using cash is going to help you get there!
What is your biggest challenge when paying off debt?
What seems to be your biggest hurdle to face when it comes to getting rid of your debt? Do you feel like it’s even worth it to be debt free? Let’s chat about it in the comments!
Thanks for stopping in and I’ll talk to you soon! Xoxo
Nobody has the time to do any extreme couponing! But is there still a way to make couponing work with a busy schedule and still save any money? There are a few super simple techniques for couponing for beginners that will help you do exactly that!
I found a way to make couponing quick and still help our family save a chunk of money every month and that’s what I want to teach you today!
A lot of money has been moved around in our August family budget! We spent almost $8,000 from our August family budget. The crazy thing is that it doesn’t stress me out at all!
Starting a family budget doesn’t have to be restrictive! Look at it in a way that you are actually telling your money what to do rather than wondering where it went. Then not having enough to pay the bills… Stressful! Continue Reading →
What would your monthly grocery budget look like if you spent it all in one day? That is exactly what I do for our family every single month and I want to teach you how to do the same thing! It’s all part of living the Pearl Life!
Why would you want to do that? Well I guess you wouldn’t be interested in learning this life changing mom strategy if you don’t want to save thousands of dollars each year…
Oh you do!? I kinda thought you might be interested to see what our monthly grocery budget strategy looks like. How about I share some real life numbers with ya?
When it comes to getting started on a budget that you will actually stick with, there are a few budget basics that need to be established. It’s super simple and you can probably get this done in just a few minutes! I’ll show ya how!
Our family has had to learn the hard way with getting our personal finances on track, but that doesn’t mean you have to!
Learn from our mistakes and our wins and skip the hard part! I am sharing our real numbers today in hopes of painting a clearer picture to help you as you are getting started on a budget.
What you need to do is put yourself in the same shoes and ask yourself the same questions. These budget tips for beginners will help you set the basic groundwork for creating a hugely successful family budget that will not fail!
Summer is not the time to let your meal planning on a budget slip! All over social media I have seen mom’s biting their nails in horror thinking about feeding their family and sticking to a budget this summer!
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Let me introduce you to a new way of dating your spouse. It is the single most important date your marriage can’t afford to miss! If you can make the commitment in this moment to learning about and following through with the Budget Date, you will no longer have trouble talking about money with your spouse!
The idea behind a budget date is simple! Set a regular date where you and your hubby talk about your finances. It doesn’t have to be long and it doesn’t need to be intense. But you need routine checkups to make financial course corrections as your lives change.
But first there are two things we need to address before we get to the shortcuts…