When we started Financial Peace University 4 years ago we made some financial goals as a couple. If you haven't yet done this you really need to. There have been ups and downs through those years but our goals have helped us keep moving in the right direction.
It is also a great idea to write down WHY you have these goals. In our culture it is much easier to have debt than be debt free and saving money. You will not do this by accident, you have to be very intentional. When hard times come and you're tempted to do something you shouldn't do financially (go on vacation on your credit card, buy a new car, spend money that isn't in the budget ect..) it is good to know why you have chosen to live the way you do.
Here are my why's:
Our family has chosen to stay out of debt (except our house), be frugal, and save for the future because:
1. When we get to the retirement years we want to be able to actually retire and
never have to be a financial burden to our children.
2. We want to be able to give money to charities we think are making a postitive impact on the world.
3. I want to be able to stay at home as much a possible to raise my children while they are young.
4. We would rather be making interest on our money than paying it.
5. These are the financial values we want to instill in our children and you cannot teach something you yourself are not living.
6. We want to be good stewards of what God has entrusted to us.
7. Money problems are the number one reason couples divorce and we choose not to have that as an issue in our marriage.
I encourage you, if you haven't already, write down your financial goals but also write down WHY you want to do this. It will serve as a great motivator.
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1 comment:
Your whys to save as so spot on. We haven't written down our financial goals, but even before we were married, we agreed on what they would be. No consumer debt and quickly paying for our house are two of our current goals. We're total nerds. Before we were married, for Christmas, I bought Gabe the very romantic gift of budgeting software. Actually, it has been a huge blessing in our marriage to have a budget. No fights about each little purchase because together we have already made the budget decisions.
We are so looking forward to teaching our kids about money too. I can't remember who said it, but someone actually adds his children to his checking account during their senior year of high school and they manage the household finances for that year (with parental oversight). It's such a radical idea, but could really work. I don't know if we'll do it, but teaching kids early about money is so important.
With Love,
Penelope
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