Couple Money Podcast

How can you plan and budget for a year when there are so many things up in the air?

Today we’ll go over how the two of you can create a plan and budget so you can hit your goals while being flexible enough to switch gears if needed!

How to Hit Your Money Goals During a Uncertain Year

This first month of 2021 is just about wrapped up and already it's been an eventful year!

A huge challenge we faced in 2020 and it looks like for a good part of this year, it's going to be creating plans when there's no firm idea of what to expect.

Heard from many of you, the frustration and the stress of having plans started at the beginning of the year, and then getting hit with the pandemic or the financial fallout from it and it throwing everything off.

It's understandable if you are not looking to repeat that in 2021.

While we can't prepare for every single situation and emergency, there are steps we can take to shore up our finances and give us more options. Our goals and our budgets need to have flexibility built in so that we can pivot for whatever comes up.

But how do you do that? How do you plan in budget when you don't know what to expect? That's going to be our focus for today.

We're going to look at the big picture and talk about how to approach your goals for this year and your budget.

Then We're going to drill down with a goal that many couples have- paying off their student loans - and coming up with a plan when there's still certain decisions that haven't been made yet.

There was an announcement last week with federal student loans, but are we going to have anything forgiven?

Certified student loan professional Meagan Landress from Student Loan Planner is here to talk about your options and what the two of you need to discuss to come up with a plan that fits your needs.

We got a lot to cover, so let's get started!

Resources to Stay on Top of Your Money 

If you’re looking to build up your finances, here are some handy resources we mentioned in the episode plus more! 

Thank You to Our Sponsor Coastal Credit Union!

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!

We’ve been members for years and love their service and competitive rates on checking and savings accounts!

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 rating and review on Apple Podcasts.
  • 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

Our theme song is from Staircases. Additional music by various artists from Audiio.

Direct download: S3_E4_Planning_for_an_Uncertain_Year.mp3
Category:personal finance -- posted at: 1:13pm EST

For many families, 2020 threw us for a loop. Today we’ll look at how you can revamp and build your budget so you can hit your financial goals faster!

Revamping Your Budget

I think it’s fair to say that last year did not go as any of us planned. I’m not going to recap the year – we were all there- but honestly, we had a lot curve balls thrown at us. 

Because we had to make so many changes with how we worked, did school, and more, our day to day routines changed and our budgets did as well.

While I’m happy that there are vaccines being produced now, there’s still much ahead of us. It’s going to be a while before things get back to a more normal routine. 

Which means more than ever, we  create a plan for our finances.

One of the best ways you can pivot your finances is by creating a roadmap for your money. For most families, that means creating a better budget.

Some challenges that couples face can include: 

  • sinking up on what goals you want to tackle this year
  • Building a budget that is flexible enough to deal with adjustments
  • Finding ways to both save for your goals and for some fun

So we’re going to dig into this today one by one. 

Rob Bertman is on the podcast.  He’s a certified financial planner and the creator of Family Budget Expert.

He’s worked with families on reconfiguring their budgets so that it reflects them and their specific goals.

We have a lot to cover, so let’s get started! 

For many families, 2020 threw us for a loop. Today we’ll look at how you can revamp and build your budget so you can hit your financial goals faster! #podcast

Resources to Build a Better Budget Together

Looking to create a budget? Here are some helpful resources: 

If you’d like to chat more about your money system, please join us in our private and free Facebook group – Thriving Families

We’re families looking to support and help one another out.

Hope to see you there!

Thank You to Our Sponsor Coastal Credit Union!

learn more about our podcast sponsor coastal credit union

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!

We’ve been members for years and love their service and competitive rates on checking and savings accounts!

Key Takeaways on Creating a Budget That Fits Your Family and Goals

Now that we’re two weeks into our monthly money challenge. Which is simply tracking your money. You’re probably getting a clearer picture of your family’s cashflow.

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With those numbers in front of you, the two of you can start building a budget together that makes sense for you and your goals for the year.

Here are a few things to look out for and discuss.

Which areas of your budgets, are you spending more or less than you had anticipated?

Since many families stayed home more in 2020. It’s natural that your budget’s shifted. In certain areas may have seen an increase while others. Had a decrease. Now that the new year has started, things may have shifted again. If, so which areas of your budget are staying on target? In which ones are unexpectedly higher or lower?

Of course, if you’re going over budget, you immediately need to make changes. But this may be a case of where you need to adjust your budget, to be more realistic for your current and future circumstances. Perhaps you’ve discovered that yes, you’re spending more with food, but you’re eating at home more eating healthier.

And the quality of the food that you’re picking out is much better. So in that case, you may decide going forward that you want to keep the food expenses in that range and cut somewhere else.

The second thing to discuss. And it is related to the first is how much did you enjoy with your spending? I know sometimes in the personal finance space. Spending is seen as a negative, but that’s not necessarily the case. Again, when we’re looking at budget, we’re talking about what we prioritize and what we value.

I know for us, we’ve made some purchases during the pandemic, since we were going to spend more time at home and we do not regret those purchases.

We put some more money into our family garden and got items for the yard, such as a hammock and a telescope and we really enjoyed those purchases.

What about you? What new spending did you have because of the pandemic. Perhaps it was buying games for family game night.

You may be looking at that spending and you’re happy with it. And you might decide that going forward, you want to keep it in your budget. Then make sure that you put it as a new line item in your budget going forward.

Creating a budget. Isn’t all about cutting expenses. It’s really about being more intentional with how you use your money.

Finally looking at your cashflow. What’s a realistic pace for you to hit your goals.

We’re not trying to create the perfect budget. We’re trying to create a budget that actually works for you.

These discussions may seem small, but they can give you a leg up for creating a budget that you can use for the rest of the year!

For many families, 2020 threw us for a loop. Today we’ll look at how you can revamp and build your budget so you can hit your financial goals faster! #family #budgets

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 rating and review on Apple Podcasts.
  • 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

Our theme song is from Staircases. Additional music by various artists from Audiio.

Direct download: S3_E3_The_Art_of_Building_a_Budget_That_Actually_Works.mp3
Category:personal finance -- posted at: 9:36am EST

Dealing with debt can be a grind, especially if you have a ton of debt or if it is high interest. Today we’re going to see how the debt lasso method can speed things up with credit card debts and we’ll get tips on how to pay off over six figures of debt without sacrificing fun!

Creating a Plan to Pay Off Your Debts

One of the most popular goals families make when it comes to money is paying off their debts and with good reason. 

 

Even before the pandemic, debts were a considerable chunk of an average American family’s budget. 

 

The median household consumer debt was $67,000 according to data in New York Fed's quarterly Household Debt and Credit Survey.

 

Getting rid of that debt is not always so easy. 

 

You need something that is realistic so you can stick with it as well as a way to speed things up if you’re deep in debt. 

 

We’re going to look at how you can create a debt free plan that fits your family and budget. 

 

Today’s financial experts are John and David Auten-Schneider and Toni Husbands. 

 

In this episode we get into:

  • Deciding which plan would work best
  • Getting your spouse on board
  • finding that balance between hitting your financial goals still enjoying your life

Let’s get started!

Listen to the episode on Apple Podcasts, Spotify, Android, or on your favorite podcast platform.

Resources to Dump Your Debt Faster

If you’re looking to create a debt free plan that fits your family, budget, and timeline here are some helpful resources to review. 

 

If you’d like to chat more about your money system, please join us in our private and free Facebook group – Thriving Families

We’re families looking to support and help one another out.

Hope to see you there!

Thank You to Our Sponsor Coastal Credit Union!

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!

We’ve been members for years and love their service and competitive rates on checking and savings accounts!

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 rating and review on Apple Podcasts.
  • 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

Our theme song is from Staircases. Additional music by various artists from Audiio.


Most parents have their hands full and too many times our finances, health, and homes don’t get the attention they should. 

We go over how you can reset your habits so you simplify your finances, home, and lives to enjoy some big wins this year! 

Reworking Your Habits

For multiple reasons, 2020 was a challenging year. 

Even if you weren’t directly affected by the pandemic or managed to avoid the financial fallout of it, chances are you were impacted by what was happening. 

If you’re a parent, you had this gargantuan task of working from home, staying productive, while corralling your kids with their remote learning. 

But we made it here. 

Understandably, you’re probably looking forward to resetting a few things, including your finances.

Peter Polson, the founder of Tiller, is joining me in this episode to discuss how to shift your financial habits and more. 

It may seem these are too small to matter or make a difference, but from our personal experience and learning from others, habits are really the building blocks to pivoting towards your goals, whether it’s with money, at home, or our health. 

In this episode, we’re looking at:

  • Why Habits Are Better Than Relying on Just Willpower
  • Essential Daily Habits to Add Into Your Routine
  • How to Design Your Schedule and Finances Around Who and What Matters Most to You

Ready? Let’s get started! 

Key Resources to Help You Change Your Habits

Looking to reset a few things to get some family and financial wins this year? 

 Here are some fantastic resources to help you! 

Thank You to Our Sponsor Coastal!

learn more about our podcast sponsor coastal credit union

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!

We've been members for years and love their service and competitive rates on checking and savings accounts!

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.

Music Credit

Music in this episode was provided by artists from Audiio.


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