Getting off the financial funk train…

No one like talking about money and mostly I don’t like talking about it either, its one of those things that you just don’t talk about just like religions and politics. But… sometimes people should just be open.

Financially after almost 6 years of being together Hannes and I are financially stable, we can pay all that we need to pay and even have some extra to do something fun.

Sometimes you feel completely lost and you don’t know where to start to get yourself out of a hole. Here is sort of what is going on in our house…

1) We use one account for all of our debit orders and monthly payments. this means that once our salaries are paid into our accounts we transferred the set amount as allocated in the budget and what is left in each account is that persons spending money for the month.

2) Set up a budget and stick to it. We have one account for all our expenses which makes it much easier for us to stick to the budget. I set the budget every month (more like my spreadsheet has the next 12 month on it) and every month I add things that come up. A couple of days I send this to Hannes to add or alter once he is happy with it, we are good to go.

3) Handle Debt as a Couple by making a plan to pay off existing debt. it does not matter how you are married or who’s debt it is in the long run you got married to spend your lives together and the longer your spouse takes to pay of his debt the longer you might be renting a house instead of buying one. We work together to settle all debt no matter who it belongs to.

4) We try not to pay anything using credit unless we are in a pickle and we have too, otherwise if the kids need new clothing I buy on sale items or use our savings. We try and live on cash as much as possible.

5) We do not have any financial secrets – the odd pair of pants hidden in the car because I saved my change to buy it is a different story, but big things we talk about. I will not go out and get a loan without discussing it with my husband first.

These are little things that will make a big change in your life. How do you (those living very much paycheck to paycheck) manage your finances? 

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