If you are working towards a debt free lifestyle and you are in a relationship then you will need to consider these 5 steps on your journey to becoming debt free and not stressing your relationship.
First of all, I’m not attempting to give relationship advice here, you can get that here. This will continue as a blog about Financial Freedom. I believe we can be successful if everyone is involved and on the same page.
We’re going to discuss these 5 topics
- Communication
- Focus
- Time
- Greed
- Celebrate
Communication
There comes a time we look at our financial situation and think “I have to do something about this NOW”!!!
You put restrictions in place like “no spending money ever again, unless I approve everything”
That doesn’t work when you’re in a relationship.
It’s ok to be frustrated, heck if you weren’t frustrated you probably wouldn’t change anything financially.
Talk to your partner, be respectful, share your frustrations and discuss solutions. You will probably discover they are feeling the same way.
Agreeing to set up a budget to get out of debt and how you will do it as a team will increase the chances for success.
Focus
When creating your route to financial freedom set milestones to know you are on the right track.
Reward yourselves with something special when you reach your ultimate goal. Of course you will pay cash for that couples cruise, right?
Continue talking to each other about obstacles and set backs. Make a plan and get back on track.
Encouraging each other often because this next one is what will set you back.
Time
When you work out the map to financial freedom it’s important to understand that you didn’t get in debt overnight, so you probably won’t get out of debt overnight. It’s going to take time.
“Nothing in the world can take the place of Persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.” -Calvin Coolidge
Set aside time to talk about the progress and struggles you and your partner are experiencing. Make sure your relationship is on track mentally to continue on the journey.
Sure, anyone can save for a minute and pay off a couple of bills, don’t quit too early.
Greed
These 3 steps mentioned above can start to look like GREED.
You’re hoarding money, it’s stuffed in jars, envelopes and mattress in the master bedroom. Your not buying anything, everyone is hungry all the time, you’re working as many jobs and hours as the boss will let you work. All you talk about is money, money, money.
Don’t lose the human touch. Spend time talking about the common interests you had when you first met. You’ve got it in you, just be intentional about it.
Go places and see things. I bet there are lots of interesting sights nearby that are free or cost very little.
Commit to having courageous conversations with each other if you feel greed is creeping into your life.
Greed can really hinder a relationship and turn you into someone you didn’t set out to be.
Celebrate
One way to bring all the steps together is to celebrate milestones along the way. They can be big or small.
Milestone examples:
Paying off a credit card
Paying off your car loan
Paying off a student loan
Don’t give up once you reach a milestone or two. Let that win be the encouragement to go after the next one and so on.
By celebrating your successes along the journey, you’re purposely taking time to show how much you appreciate each other’s contribution to the goal.
Again it doesn’t have to be a grand display, but it can’t go unnoticed.
Without this step everyone involved will lose interest after a while.
In Conclusion
Don’t put more stress on your relationship over money. Money is very emotional in a relationship. One person handling all the finances may feel like they failed or it’s all their fault. You’re a team and you’re doing the damage together.
Now come together and get out of debt by following the steps.
- Communication
- Focus
- Time
- Greed
- Celebrate
If you have had success in coming together with your partner and beating your debt leave a comment.
If you believe that if you would have started with steps like these and maybe things would have been different in your journey, leave us a comment.
MoneyHugger 