Over the last year or so, we at Young Family Finance have provided you with tips and plans on how to make you and your young family as financially stable as possible. We’ve given financial advice on insurance, home shopping, car purchases, schooling and vacation planning. We told you where your money should be at this time and provided encouragement to reach your goals. You’ve read many of our articles, agreed with them and then went back to watching cat videos.
Meanwhile, your debts continue to accumulate and your financial goals seem further and further away. You discuss the situation with your spouse and you’re both baffled as to the reasons why this is still taking place. Here’s a question to ask yourselves … How bad do you want it?
Do you really want to be debt free, or is it something you say to yourself to make it feel like something is getting done to stabilize your financial situation? Sure, you listen to those callers on Dave Ramsey or Suzie Orman and think you’re not as bad off as they are. Yet, taking a look at your bank account and bills, your realize that you are in bad shape. Do you shove the bills in a desk drawer and hope everything will go away?
Answering ‘yes’ to any of the above questions probably means you don’t want those financial changes bad enough. And let’s say that you do want that stability for your young family. The next question is this … Are you fighting hard enough to achieve those goals? Yes, people falter in the pursuit of their quests; however, if their will to fight is strong enough, they’ll excel and most likely surpass their goals. To sync you up with these folks, here are a few things to remember.
It’s going to be hard
Anytime you dig yourself into a hole it takes even longer to dig yourself out. Sacrifice is needed in order to pare down the debt and set your young family up for a financially secure future. This means things you considered treats to yourself are going to need to be eliminated so extra cash is available.
You’re going to disagree with your spouse
What you feel is a need your spouse may consider a want, or vice versa. In addition, when you start preparing the household budget, you’ll most likely disagree on what amounts need to be allocated in each category. There will be hurt feelings and frustrations, but that’s how compromises come to fruition. Stay strong and the results will be rewarding.
You’re going to stumble
Even the most perfect plan will crack once in a while due to an unforeseen circumstance or a unnecessary spending spree. You can’t give up and fall back into old habits at that point. You need to get right back up and continue the fight. Keep doing that and you’ll be the one standing at the end of the last round.