When I think back 10 years and 20 years ago, what a difference it has been when it comes to money, finances and where I stand with my budget. 20 years ago I started dating my ‘now’ husband and we both entered the relationship with so much debt. Today we are on track with little debt and a good outlook on our retirement future that is within 15 years away between the 2 of us. My long-term goals are to not have a mortgage payment and we are definitely on track for that by retirement age and to travel-lots of travel!
We had to be strict with our spending and wise in our credit choices when we started attacking our debt. We made decisions on how we spent money on bills, fun, blending credit accounts to pay them off which meant consolidating and how to begin retirement savings and choose medical plans. Budgeting is not simple and even in a tech world, I rely on online calculators or trusty apps.
A lot has changed in 20 years in regards to technology as well and planning is so easy much easier today with online tracking apps, including my bank app where I can customize notifications and keep up on what is happening in my accounts right in the palm of my hand!
There a few things you can do to start tackling debt and creating a realistic budget plan. If you are married or share finances with a partner, the first step is communication and coming to compromises and common goals. I frequently check my bank apps to see what notification options I have and how to set certain alerts. Consolidating smart and choosing to tackle one debt at a time (like getting rid of the high interest debt first) can help you feel like you are making progress. In our debt relief journey, I would have never guessed that I could actually become a tad obsessed with wanting to pay things off at any sacrifice because it is such a great feeling to clean up the budget.
You can always find online tools, such as card comparison calculators from calculator.me. Sites like these allow you to type in your budgets and see your options and goal results. If you have not started the budget talk lately, it is time to start again, especialy as we near the Holidays.