Money Money Money

Stephan and I, along with four other couples, are doing Financial Peace University by Dave Ramsey. I have to say I have been excited about this for a long time. We don't have a lot of debt but we are still both new to this whole "sharing finances" thing. I knew we needed to set an "in stone" monthly budget and also have not only each other, but close friends that could help hold us accountable. Something I've learned since getting married and "inheriting" debt/new expenses, is how important it is to have someone to hold you accountable. I also have learned how important it is to have a budget. Do not just guess on what your expenses are people! It's not a good thing...

Confession: I am the person who gets her check in the mail, deposits it in the bank and immediately starts spending. I'm not spending it on selfish things... most of the time I'm spending at petsmart, or our local vet, or target clearance rack (on clothes for E). 

Stephan hates it when I do this! He says, "Deposit your money in the bank and let it sit there for a few day. That way you stop thinking about it and you wind up spending less." The last couple of months I have tried his philosophy and low and behold it has worked! We also put all our money in one account and pay all bills first before doing anything else with it. Then whatever is left is divided between saving, haircuts, stuff for E, stuff for the dogs... You get the point!

My favorite thing about FPU is the use of money envelopes. Let's say you allot your self an $100 clothing budget every month (We don't even spend half that per month on clothes) when you get paid you would take the $100 out in cash stick it in your clothing envelope and once it's gone, it's gone. I've done this in the past and it was a huge part in helping me prioritize what was really important and what wasn't. It also helped me become a better bargain shopper! I have a stronger emotional attachment to my cash than I do to my debit card.

The work that it takes to save more and spend less is never really that fun... but what is fun is what all you get to do when you budget correctly and pay down your debt....

Like buy a house :)

Remember debt free is the way to be. Sorry that was totally lame