Introduction Of Do You Know How To Do You Spouse On Board With Paying Off Debt In 2022
Do You Know How To Do You Spouse On Board With Paying Off Debt In 2022 We’re going to talk about how to get on the same page with your spouse, which is a question a lot of people have? So this comes from Jared and he said my wife and I are on Baby Step 2. I doubled up our emergency fund recently because my wife hasn’t been able to keep a job. Every time I get motivated and start to get her on board something happens where she loses her job. She’s had seven jobs in the last year.
Congratulations On Paying Down Some Of Your Debt
She’s about to start a new job, but I’m nervous because if I get sick or hurt, we’ll be for a little bit, and then I don’t know. How do I get my wife more onboard? We have paid off some of our debt and have about $17,000 left. Well, number one, congratulations on paying down some of your debt. That’s amazing. And at $17,000 it’s like right there, like you you can still truck forward and get that done for sure.
Now my question would be, Jared, I wish I had you on the phone with me so we could have a conversation about it, but I don’t know how much your wife isn’t on board on getting out of debt or budgeting or what part of that. But it sounds more like the issue is her keeping her job. So I would ask the question, why? Why does she keep losing her job? Is it her, something she’s doing? Is it the industry that she’s in? Is it the types of companies she’s choosing to work for and they’re closing their doors?
I’m curious why she can’t keep that job, because, again, if it’s an industry problem, then maybe you say, let’s just shift industries. Let’s go look and see if I can do something else on the side for a little bit while we get out of debt and kind of make these sacrifices so we can have that solid financial foundation. Or if it’s something that she’s doing, if it’s her problem, digging into that and understanding. Because money flows two ways. YOU CAN ALSO READ Top Money Mistakes That Are Destroying Your Finances In 2022.
The Idea Of Getting Out Of Debt And Living On A Budget
It flows in, and it flows out. So you can cut your lifestyle back as much as possible but also that income coming in is gonna help you get that traction. And so again, her having that job that you guys are used to having that income, she needs to have. Unless you just kind of restructure and say, maybe she does stay home. If you have kids and that’s really what she wants. And so for this time, maybe you do just live off of your income and you have to reprioritize and figure it out. So that would be the main thing.
But for other people that are struggling to get their spouse on board, you have to understand that, we all have different tendencies. We all have different money personalities. So naturally one of you is going to be hard-driving, loving the idea of getting out of debt and living on a budget. Like it’s like up your alley, you feel the traction, you see the success. And then usually another spouse who is like, I don’t know, I’m just not as passionate about that. So you’re going to have these kinds of different personalities, which is very, very normal. Read More Top Money Mistakes That Are Destroying Your Finances In 2022.
But the key here is that neither one of you is just sitting back and just spectating and reading everything plays out. But you’re involved, both of you. Now one of you might be way more intensely involved because you love it. You’re gonna look at numbers every night. And the other one is involved. May not always just be as passionate or love it as much as the other spouse.
Racking Up Credit Card Debt
So there’s gonna be degrees on how much passion you have in this process. So some people are like, my wife’s not on board but we’re budgeting together and getting out of debt together. But she doesn’t want to look at my Excel sheet every night, I’m like, she’s on board. Come on, let’s give her a little grace. Now, other people are fully not on board. Like you are running on two separate tracks. So if that’s the case and you’re trying to get out of debt but your spouse keeps racking up credit card debt, that’s gonna be a problem.
So having communication around your why this is a big first step. Why do you want financial stability? Is it out for security purposes? You want to know that you’re gonna be if something were to happen to you, Jared sounds like you. Or is it more, yeah, I wanna get out of debt so that I can finally sleep at night. Or I want my kids to grow up in a household where they can understand how money works and they don’t have to make the mistakes that we made.
Why Is It That You Wanna Be Outta Debt
Or we’re doing this so that we can take that yearly vacation we wanna take every year with our family and do it with cash. Like what’s yours why? Figure out your why and then communicate that to your spouse. Because again, it’s not just, I just wanna get a bunch of money and pile up a bunch of stuff. Because if that’s the case, you can just go into debt and probably pile a bunch of stuff. But why is it that you want this freedom? Why is it that you wanna be outta debt and you wanna be intentional?
That’s why is big. And then I always tell spouses, usually, if the husband’s not on board to tell the wife, show him practically. Here’s what this looks like, listing out all of your debt, small and slow just on a sheet of paper and doing the math and saying, if we put X amount towards this debt, we can have it paid off in two months. And then if we take all that money and do by the next smallest debt we can have it paid off in six months having goals and seeing it visually is so helpful. Like it Do You Know How to Do You, Spouse, on Board With Paying Off Debt In 2022?.
When You Change Your Money Habits
Versus this idea of, let’s just never go out to eat and never go on vacation. That doesn’t sound like a fun plan. There has to be a reward on the back end. And in fact, Charles Duhigg talks about this, that when you change your money habits you have to have rewards and incentives on the other side. So whether it’s seeing that checking account or that savings account click up and you’re like, yes, yes, our savings, our emergency fund, I see it. And that feels good, that’s a reward to you. Or maybe another type of reward.
I don’t know, but to say it together, we’re gonna reach these goals. We’re gonna work toward something so that my reward, financial freedom, stability, peace, all of that is fulfilled. So that’s kinda what I would say. And again, this is a hard thing, you guys. I mean, relationships can be so messy. You all come from different backgrounds, you view money kinda differently, you all have different habits, different tendencies. But learning to work together as a team empathizing and respecting each other, please.
Making It A Team Effort Is One Of The Best Things
I just see so many spouses and them just. They just throw their husband under the bus or the husband just keeps nagging the wife of all the mistakes she makes and how much she spends. I mean, oh my goodness take a deep breath and realize, how do we communicate effectively and lovingly, because you are a team, you are a team, and money seems to get in the middle of so many people, so many spouses, like sits right here, and they’re like fighting it like set it across the room.
And like lock arms and say, we’re fighting this thing together because we are a team. It’s not me against you, It’s us against that. Make that the bad guy, even though money’s amoral. It’s not good or bad, but for this instance it can be bad and say, no, we’re going after you. That debt, we’re getting you out. But making it a team effort is one of the best things you can do. Because what’s beautiful about this is it bleeds over into other areas of your life. When you can do this with your money, you learn how to communicate well.
So when in-laws situations come up you actually can communicate respectfully about it. When you’re raising kids, and one of them disciplines them the way you don’t like, you’re let’s talk about that. I wanna know about that. I mean, you end up using all of these skills in every aspect of your marriage. So it’s a great thing. And it’s a great thing to be unified on. And again, winning financially in the long term is not gonna happen when you’re on two separate tracks, but coming together and agreeing on your money and being unified is so important. And one way to do that is to sign up for Ramsey.