Debt can be a huge weight on any couple’s budget. We cover three major ways you can start paying it off faster. We also get into how to open up if you’re carrying debt and haven’t told your spouse!

Getting Back To Dumping Debt

As if the pandemic isn’t enough stress, millions of families have to deal with the financial fallout. 

And If you’ve had to deal with job loss, reduced hours at work, or uncertainty at your job about its stability, these past few months you’re hyper aware of your cash flow. 

And because of that, any debt that you carry (maybe with the exception of federal student loans) feels like it has a bigger impact than normal. 

During our mini-series about financially dealing with the coronavirus, we discussed that building up that financial cushion is key. 

And hopefully, things have stabilized somewhat and you have those savings available should you need it. 

However you may be wondering is there a way to get some breathing room and knock out some debt before the year wraps up. 

I think you’ll enjoy today’s show then! 

In this episode we’ll get into:

• A system to pay your debt off
• ways to you can start paying it off faster
• how to open up if you’re carrying debt and haven’t told your spouse

Let’s get started!

Resources to Dump Your Debt Together

If you two are ready to pay off your debt, here are some handy resources to check out:

• Best Budget and Money Apps: Personal Capital, Tiller, Mint, Zeta
• Free 5 Days to $5K Course
• Jumpstart Your Marriage and Your Money
• Trim: With Trim, you can cancel subscriptions and negotiate your bills.
• Billshark: They contact your service providers and negotiate the best price on your behalf.
• Paribus: Bought something and a week later the price drops? Paribus can get you back the difference.
• Total Money Makeover
• Free Debt Snowball Template
• How to Diffuse Money Fights
• What’s Your One Page Financial Plan?
• How to Build Income Streams to Knock Out Your Money Goals Faster
• Yours, Mine, and Ours: Dealing with Debt and Marriage

Thank You to Our Partner Coastal

Support for this podcast comes from Coastal Credit Union!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

• Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
• Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
• Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

If 2020 has proved anything, it’s that we need to have a budget that actually works. Today we’ll dive in to see how you two can build a budget that fits you and your goals!

Build a Better Budget Together

I think a lot of people can appreciate why budgets matter because now more than ever, we’re seeing like our finances are reflecting our lives.

For those of us who’ve been hit hard by the pandemic, either directly or indirectly, the budget has had to be completely redone.

But even if things are relatively stable job-wise, we’re still reflecting on how we could do better. 

A budget is not going to fix all of our problems, but a good budget – the one we actually enjoy and can stick with – that can be a huge help and stress relief. 

But how do you make a budget that fits your family’s circumstances and goals? How do you make one that still allows some room for fun? 

While I enjoy helping couples figure out their budget, I brought in someone who understands and enjoys budgeting. 

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Peter Polson the founder of Tiller, a fantastic and customizable budgeting tool, he’s also a husband who understands firsthand that it takes effort to find a budget that fits your goals. But it’s so worth it. 

In this episode we discuss:

• Defining your budget’s priorities
• The two biggest obstacles couples face  with budgets
• How to build a better budget together

Let’s get started! 

Resources to Easily Stay on Top of Your Money

Here are some resources we mentioned in the episode as well as some other handy articles to check out:

• Best Budget and Money Apps: Personal Capital, Tiller, Mint

• Grow Your Stash Faster: High Yield Savings with CiT Bank
• Jumpstart Your Marriage and Your Money

Thank You to Our Sponsor Coastal!

Support for this podcast comes from Coastal Credit Union. If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today!

Support the Podcast!

Thank you so much for listening to the podcast!

• Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
• Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
• Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Music Credit

Like the music in this episode? Our theme song is by Gentle Regime. Additional music by Lee Rosevere