With any adventure the first step is always the hardest. It has almost been a week since my last post and I have yet taken the first step in getting out of debt. But looking at it you could say that i am working on it. I am trying to get my mind in the right direction of getting to that first step. Now all i need to do is take that first step. Payday is this Friday and I hope that i can pay things that need to be paid and then have some extra to pay down a little more.
I have been married now for almost 5 years, August 4th is our Anniversary. It is sad to say that I have yet to encorporate my wife into the dealing of our budget. There have been times that we have attempted it and it has never really gone on. We have also tried about everything we can think of in making sure the money went to where it needed too. We have tried cash, putting the money aside in the account and just not spending it. I think we have come to a plan that we hope will work for us. Here is what we have decided that we are really going to try and do to see if it will work for us. About a month ago I read an article on a blog about using two bank accounts in budgeting. The long and short of it you have one that pays the fixed bills and another that has the other budget items. We talked about this and we feel this is the ideal situation for us. I know exactly what bills need to be paid and when. Since she is a stay at home mom we fill her best help is keeping things like groceries and household items cheap. So she will be in charge of that.
Here is our plan for payday this week.
1) Once the amount of the paycheck is in the bank i will input that amount into our spreadsheet i have created that tells me when the bills are due and the amounts.
2) I will then figure out what I need to pay the bills, and Gas for the cars. I pride that since we have been married my wife has not had to pump gas in her car, I feel that is my job.
3) Once I have the done I will then transfer the remainder or what she needs into her account. By doing this we do not spend money that is ear marked for bills.
As we have talked about this we feel this is going to be the best fit for us and hopefully will allow us to start to pay some things down. We will just have to see how it all pans out in the next few months.