Chpt 3- His Finances

I LOVE numbers, I see them everywhere. I can do math in my mind faster than my mom can do it on a calculater- which really irratated her while teaching me Algebra... My hubby understands this and has allowed me the priviledge (and sometimes burden) of taking care of the finances for our family. I like to think it helps him out. He works such long shifts and extra jobs, he shouldnt have to come home and worry about getting the bills paid and books balanced, too. He trusts what I say when it comes time to purchase something and seldom questions or pushes for more. He did push for a chainsaw and I gave in. But it has come in quite handy around the farm and now I am researching a small one for me for those little trees that need to go...

In this chapter one thing stood out to me. Nothing puts more pressure on a marriage than financial irresponsibility, lack of money or huge debt. HELLO!!! I fully understand that one! When we got married we had so much debt. Hubby wanted to pay one way, I wanted to pay another. We ended up compromising (which it vital for marriage, in my opinion) and some things were paid his way, while others were paid the way I was comfortable with. I read, and reread, Debt Proof Your Marriage by Mary Hunt. I still pull it off the shelf from time to time to brush up. We found that the "snowball" payoff worked best for us. We paid off the smallest bill, then took the amount we were paying on it and added it to the next smallest bill.

Example:
Bill 1 Due $500.00 Paying $100.00 a month
Bill 2 Due $800.00 Paying $75.00 a month
Bill 3 Due $1000.00 Paying $115.00 a month

When bill 1 was paid off the $100.00 was rolled into bill 2's payment, now making it $175.00 to get it paid off sooner. Then that payment was added to bill 3's paying $285.00 a month on it... I hope that makes sense.

We had ALL our credit cards and loans (except for house and car) paid off before our first anniversary... I was so excited! I am not comfortable with debt. And the more debt we have the more stressed I get. Which in turns puts stress into our marriage- not good!

I know different people handle money different ways. This is what works best for our family in this moment... yeah- that's about it for this train of though....