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Tackle the debt in your relationship.

Recently I took to Instagram and asked my followers which type of content they wanted to see more of? Interestingly 69% of my followers answered financial advice. This caught me by suprise because Yury and I talk about finances DAILY and to be honest, I sometimes find it draining but he loves it.

Let me start by saying I’m NOT a financial advisor nor am I a financial expert (You need to turn to Dave Ramsey for that). What I am is a 29 year old who was in debt. Taking these simple steps when I got married helped to change my financial experience and put me in the place with money. Now my money works for me, I don't work for it.

Know Your Money: In order to be financially free it’s important for you both to know where you stand with money. Get real about finances, have tough conversations. Be honest about where you both are. It may be uncomfortable but this is the MOST important part. Make sure every ounce of debt is identified so that you can tackle it together.

Identify your strengths and weaknesses; Now that you’ve identified your debt you have to figure out what you are strenghts and weaknesses are around it. Are you a person who buys anything because it’s on sale? Do you spend way too much money on eating out? Or maybe you’re great at saving but not the best at investing. This step is crucial because it helps you to keep each other accountable and sets the tone for the next step.

Establish A Financial Plan: when it comes to changing your financial situation you can’t just make it up as you go. You have to know exactly what needs to be done and when. Use your strengths to establish your plan. if you have multiple credit cards or loans, consolidate your debt. You want to make sure everything is in one place which makes it easier for you to manage.

Now that we have established the basics it’s time to put them on place. I know talking about money isn’t sexy and can be very scary at times. I promise you, it’s so worth it. Next time you are just hanging out with your spouse bring up finances. If you found this blog post interesting or helpful please share and comment your thoughts below.

Thanks for reading!

1 Comment

Jan 26, 2021

Very helpful tips. My husband and I have started to talk about our finances more and you’re right it’s not the easiest but it definitely needs to be done.

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