Why Getting Out Debt Won’t Solve Your All Your Money Problems

When my husband and I started our debt repayment journey in mid 2013 I though that getting rid of our debt would create a new beginning for us. One filled with less money problems and 100% unified spending decisions. Wait, let me rephrase that…I thought my husband would continue to subscribe to my super saver/ aggressive debt repayment approach to managing money. Well I was wrong.
One thing we did agree on was that our debts had to go. Everything else after that was up for negotiation.

Its been a compromise, but one I am willing to make because we both give up a little of what we want but our long term financial vision is still the same.

During the 2.5 years we diligently worked to pay off $120,000 of debt, our spending decisions were made for us. Everything and anything extra pretty much when to paying off the debt. Because we on the same page about this, operating this way for those years made it feel like even after the debt was paid we would agree on our spending and saving decisions. However, the reality was far from this truth.
Once we finished sacrificing for a common goal (getting of debt), our money personalities took effect and we became more of what we normally would be without the debt.

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Grocery Challenge: Week 4 final update

This week marks the final week for my grocery challenge. As mentioned in my previous post, I decided to do something different for the final week of my grocery challenge. I would purchase at least 90% of my groceries online and document my experience.

Although I buy a lot of things online, groceries were not one of them, so I wanted to get a feel for the experience doing this and see if I should do this on a regular basis. Before I get to my finding, my grand total shopping bill for this week was $117.29. I managed to stay below the $140/week mark but not quite get to the $100/week goal without needing to reduce our food and nutritional choices.

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Grocery Challenge- Week 3 Update

This week’s grocery challenge was a bust. I went well over budget mostly due to the fact that my husband and I hosted the weekend that past. We also replenished our household cleaning supplies, hygiene products and vitamin supplements that costed us a bit of money but these items usually last us anywhere from 2-6 months.

Our total grocery costs for week 3 of the challenge was $246.92. This amount was well over our $140/week challenge for the reasons I mentioned above. From this amount I think the cost associated with groceries is about $123.75. Here is the breakdown:

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Budgeting and Spending Guidelines

Budgeting is the first step to managing your money. Followed by tracking your expenses and readjusting your budget until it fits your needs and wants. It took about 6 months before I was able to feel comfortable with my budget allocations for each of the line items on my budget.

The short answer is it’s based on your financial goals, needs and wants. There is no right allocation as much as there is no right way to save and spend your money. There are only suggested guidelines based on statistical data and empirical research.

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