Thursday, March 5, 2015

Financially Fit Date Night

This past Friday night, Jason and I had our very first money management date night. Sounds pretty wild and crazy, doesn't it? Well let me tell you, there was nothing wild or crazy about it. HOWEVER, it was necessary. Did you know that a Kansas State University study found that the leading contributor in divorce among the couples surveyed was FINANCES?! Additionally, they found the income the couple made wasn't even a factor. So basically, a major reason couples separate is poor communication and compromise in regards to their finances. Jason and I are nowhere near that point and have always had pretty clear communication in regards to our finances but nonetheless it's scary to think about the impact it can have on your relationship.

Friday night we sat down with an excel spreadsheet, all of our bills and a couple of cocktails.
We essentially went through the nooks and crannies of our financial situation and I'm going to be honest, it sucked. I really thought going in that I would end the night invigorated and hopeful and ready to conquer the world. Not to say our date night was bad, quite the opposite. But, I'd be lying if I said we didn't argue and tears weren't shed. When we took a cold hard look, line by line, at what we are making and spending each month along with a list of our debt...well, it stunk and stunk bad. There were definitely moments of feeling really deflated and defeated. However, everyone has to start somewhere, right? As Dave Ramsey says, and we have already realized, it is going to take us a couple of months to really get our budget system nailed down but we set some goals and a budget for March and are confident that if we stick with it, we'll see some extra money to start using towards our Baby Steps at the end of the month.


While it was hard facing the facts, our date night was also great in accomplishing some big initial steps such as:
  • Setting a budget & plan for March
  • Putting our credit cards in an envelope to be used only for an emergency, then once we have our emergency fund set up those suckers are getting cut up!
  • Creating our debt snowball and tabulating our total debt {not fun, but good to just have a number to start chipping away at}
  • Scheduling our money date nights for the rest of the year {if it's on the calender, we'll stick to it!}
  • Finalizing our super awesome comprehensive finances excel file {more to come on that!}
  • Doing our taxes {again, not all that fun, but awesome to have done}
And then, in celebration of surviving our first financial date night and taking one step forward...we took a shot. That's just how we roll. 
I plan on posting about our progress and what we learn and accomplish along the way. Erin and her hubby Jared along with their alter egos Sallie & Perkins have been such a huge inspiration to me, so if I can help or inspire even one person with our plan, I think it's worth posting!

Yaaaaay money!




16 comments:

Amanda {Kids and Cabernet} said...

Such a great idea! Great for you guys. Scary that finances are the reason a lot of people seperate!

Bridget said...

The stories I hear when I listen to Dave's radio show every week day just baffles me and I can see why financial reasons are the number 1 divorce cause. I feel beyond grateful that Tate and I are on the same page and getting our finances in order. I am so happy you guys got your first meeting under your belt...it sucks but it has to be done to move forward! Good luck and once again, I am here for you if you need me! Gooooooooo Fawver's!!!!

Kayla MKOY said...

So so awesome girl!!!! It's SO important and while it's not always a blast, it's necessary. So excited for you two!

Erin LFF said...

Beyond proud of you and the steps you're already taking. That Dave instagram is so incredibly true. I think the first couple of months are often hardest because you're just obsessing and trying to figure it all out. It does get easier, and it WILL be worth it!!! xo

Nicole@mamashiptips said...

great post , By reading your post I really need to get all my paperwork together and make a plan. Thank you for opening my eyes.

Cassie said...

good for you guys!! that sallie and perkins i tell you what, they make it look so fun! love them.

Katie @ yellowmangolife.blogspot.com said...

Girl good for you guys! And even better that you included cocktails....duh everything is better with wine and shots. And do I spy a May Designs book...love, love love their stuff!

Katie @ yellowmangolife.blogspot.com said...

Girl good for you guys! And even better that you included cocktails....duh everything is better with wine and shots. And do I spy a May Designs book...love, love love their stuff!

Brianna Tucker said...

Finances are so important. We evaluate our budget twice a year but we have a limit on what we can spend each month and also we communicate on big purchases. People think its weird but we know its important to always ask first!

Ashley Canfield said...

Congratulations on your not-so-fun date night! That stuff is tough but important (as you said) and I think the more people that talk about it, the better. We all become more financially literate because of it =)

ajs {of MN} said...

ha. sallie and perkins. <3

Sarah said...

I've been a long time reader but have never commented! Cheers to you guys!! Seriously!! I actually run a personal finance blog - what can I say, I love money?!

Our goal is to create enough passive forms of income so we can retire early and enjoy life! By saving money, you can eventually get your money to work for you and make even more money! That's the goal anyways haha.

Best of luck to you!!!

-Sarah www.thefrugalmillionaireblog.com

Courtney B said...

You guys are such a power couple!! You're going to look back at this post and laugh someday!! I have no doubt that you'll take charge of your finances and be out of debt before you know it!
Ugh, taxes. So glad to know I'm not the only one who hates doing them! People are always cheering on Facebook about tax time (the returns, I suppose) and I want to smack 'em because it's such a crappy process getting them done, ha!

Dixie Bell Designs said...

My hubby and I do the same thing. So not fun, but atleast it doesnt leave you saying where'd all our money go??

Unknown said...

Good job!! xxo m

Jill @ Capri + Co. said...

This is SO important! I did a 3 part series months ago on our Dave Ramsey get out of debt plan and story. My husband listens to him every day and hands his book out to anyone who will take it! The communication is SO important! Isn't it so much fun to dream about your debt free life?

I haven't caught up with your posts lately and I am so happy I did! I hope you stop by and find our get out of debt story!

Jill @ capriandcoblog.com