Marriage Alive Digest 10 Part Series on “Leading A Debt Free Life & Marriage” Part 2 (2 Easy Solutions For Mastering Our Finances)

Marriage Alive Digest 10 Part Series on

“Leading A Debt Free Life & Marriage”

Part 2

2 Easy Solutions For Mastering Our Finances

Did you know that there is one rule, one principle, one truth that if followed could almost 100% guarantee us a life free from debt and a life of true financial freedom?

Do you think this is possible? Well, without mincing words, that simple truth is:

1.       “Never spend your money before you have it.”

– George Washington.

Yes, that’s it! Quite true and simple! Nothing more, and nothing less.

But if this is so simple and clear, why do so many of us ignore or defiantly disobey this rule?  

There may be several reasons why people disregard this rule, but there are two most persistent ones. And these are: 

• I want it 

• and I want it now
  
  

A wise person knows and understands that in life, we can't have it all and that it takes time and sacrifice to reach certain financial goals.

However, a lot of us have convinced ourselves that there is no point in waiting since we can, literally, have it now. Well, if not with cash, then with credit.

Remember the “Buy it now and pay for it later" slogan? This approach to spending is what is pushing so many of couples to insane levels of debt. We seem to make up our minds to acquire stuff we don’t really need with the intent to pay later. Some convince themselves that the days of pay back will never come.

If this applies to you, it is time to wake. That the pay back time or day of reckoning hasn’t come does not mean it will not come.

So how can you break this destructive cycle? 

a).   Admit your problem. 

b).  Find an accountability partner, someone who will have your permission to keep you

on the “straight and narrow”. 

c).  Stop using debt for any purchases whatsoever and live on a cash basis ONLY.

To help you, apply the ever reliable envelope system to assign envelope for each spending category. Assign a specific amount for each of your envelopes and make a commitment to stop spending once the envelope is empty and you can fund it again with your next paycheck.

2.       Simple Quick Fix

According Maya Angelou, “Nothing will work unless you do”.  This is a simple truth of life. But we are continually bombarded with promos and adverts / messages of simple, quick, and no effort required solutions, which lures us into the trap of “simple quick fix”. This make people to believe the lie that financial breakthrough comes without corresponding work or efforts on our part.

A life of financial wealth and contentment does not come cheap or easy. Indeed, there is nothing easy on the road to genuine financial freedom. It takes hard work, concerted efforts, dedication, and determination, and sometimes, essentially going against popular opinion and beliefs.

Are you prepared to do what it takes? Are you ready to put in efforts to realize your financial dreams or you just want to remain a dreamer?

If you are indeed committed to rolling up your sleeves to actualize your dreams, here are a few you should be prepared to take:

•                If you don’t have a plan for spending your money, make one. You need to have a written financial plan, a road-map that you can follow.

•                    Find a tool, a friend, club, programme, etc that will help you enforce your monthly budget.

•       Spend 15 - 30 minutes every day reviewing your budget and where you stand. This will help you to identify or assess what parts of your budget are over or under funded and you’ll be able to make quick adjustments in order to stay within your monthly spending limit.

I know you, just like many other people, might come up with a few more reasons why we continue spending money before we have it, but we hope that this series will serve as a motivation to help you break that destructive cycle.

The longer you delay, the harder it will be to achieve your dream, so make today the day of your financial turnaround.

Work hard at it and give it time.