My Spouse Doesn’t Want to Talk About Money. What Do I Do?

And for our second question of the month comes in from Christine …

Hey Andy,

I’m looking for some advice. My husband and I have been together for 5 years now and money has always been a difficult subject for us because we have very different views.

I’m more financially conscious and he doesn’t like talking about money.

We have around $36,000 in debt. Our first child is due later this year and I’d love to be debt free like the people I hear on your show.

Combined we make around $120,000 and we’re in our late 20’s.

Do you have any advice for me to get my husband to want to pay off our debt with me?

Continue reading “My Spouse Doesn’t Want to Talk About Money. What Do I Do?”

How to Pay Off Your Mortgage Early on Less Than $50,000 Per Year – with Jessi Fearon

On our Mortgage Freedom series today, we’re going to interview someone who eliminated their mortgage on a single middle-class income in less than 8 years.

Jessi Fearon is a wife, mother to three little ones and during their nap time, she’s a financial coach. Her inspiring story of complete debt freedom has been featured in The Huffington Post, Nerd Wallet and BuzzFeed. When Jessi’s not crushing her debt and motivating others to do the same, she’s singing Garth Brooks songs and spending time with her family.

Continue reading “How to Pay Off Your Mortgage Early on Less Than $50,000 Per Year – with Jessi Fearon”

5 Ways to Save Thousands When Buying a New Home

It’s home buying season! If you’re looking for a house right now, this very well could be one of the most difficult times to buy real estate. The amount of available homes is super low and prices have skyrocketed. I know where we live in Metro Detroit, it seems more difficult than ever to buy a home at a decent price. From what I’ve read and heard, it sounds like a similar story in other major metros in the US as well.

Continue reading “5 Ways to Save Thousands When Buying a New Home”

16 Money Questions to Ask Your Partner Before You Get Married

So, you’ve found the one! Congratulations. What a feeling! Being married to the love of your life is absolutely incredible. I’m speaking from experience here … meeting and marrying my wife substantially increased the awesomeness of my days.

As optimistic as I am, I’m not naive in thinking that marriages are all roses and sunshine. Marital fights happen all the time around raising your children, family traditions, religion, political viewpoints and, of course, money. Disagreements around the all mighty dollar have caused countless arguments and, in some cases, those disagreements have caused marriages to end.

To prevent a future divorce based on money issues, let’s start off our new relationships with brutal honesty and transparency. It’s not only smart for the future of our marriages, but it is also a healthy way to engage in any new partnership. We wouldn’t accept a new job offer without asking a boatload of questions, would we? 

Continue reading “16 Money Questions to Ask Your Partner Before You Get Married”

7 Dreams That Can Come True When You’re Debt Free

For the young couples and parents that are reading this, I think it’s safe to say that a whole bunch of you are looking for a little more freedom and fun in your lives. And I truly believe that when you become debt free, you will experience that freedom. You’ll also experience a reduction of stress like you never have before.

I know that me just spouting off words and phrases like “debt freedom” or “stress reduction” may not motivate you to jump out of you seat and start crushing debt. But perhaps if we get a little more specific together, it may just do the trick.

Here are 7 dreams that can come true when you’re debt free:

Continue reading “7 Dreams That Can Come True When You’re Debt Free”

How “No Spend Challenges” Helped One Woman Eliminate $78,000 of Debt – with Jen Smith

With nearly 80% of Americans living paycheck to paycheck, most of us could use some help with saving a bit more.

Our guest today, Jen Smith, is going to show us how. Jen and her husband paid off $78,000 of debt in just under two years. A huge factor in their success was taking advantage of “No Spend Challenges”.

These challenges encourage you to halt all “personal spending” for a set period of time. This cold turkey approach could be an excellent solution for a large population of our country right now.

Continue reading “How “No Spend Challenges” Helped One Woman Eliminate $78,000 of Debt – with Jen Smith”

How Refinancing and Loan Forgiveness Can Help Your Big Student Debt Problem – with Travis Hornsby

With our country currently drowning in $1.5 Trillion of student debt, it’s fair to say we have a big problem on our hands. This problem is hitting home as well. Couples are delaying marriage, delaying having a baby and even strategically getting divorced to lessen the burden of their student loans.

If you’re listening to this, you may just be one of the many Americans that’s feeling like they are completely under water with these loans.

Well today, I have a very special guest who’s going to talk with us about our options for getting rid of these loans the right way. Travis Hornsby from Student Loan Planner shares how refinancing and student loan forgiveness may be our tickets to student debt freedom.

Continue reading “How Refinancing and Loan Forgiveness Can Help Your Big Student Debt Problem – with Travis Hornsby”

Sinking Funds: The Secret to a Successful Budget

Hello all! Andy Hill here …  We have a new guest post from personal finance writer Amy Beardsley from Early Morning Money. Amy is a self-described money geek that is obsessed with simplifying money and breaking free from the burden of debt. Her article below shares why we all need sinking funds in our budgets to help us create that freedom we desire. Enjoy!

When it comes to your family’s finances, you already know you need an emergency fund to protect you from a job layoff or major medical illness. But what about all of those little expenses that come up year after year, like car insurance, Christmas, or your annual family vacation?

That’s what sinking funds are for, and they’re the secret to a successful budget.

When money is tight, or you’re working on a big debt-payoff goal, covering all of your expenses is key to making it work. With sinking funds, you can easily stick to your budget even when faced with costs that don’t come up that often. Here’s how to get started.

Continue reading “Sinking Funds: The Secret to a Successful Budget”

Over $100,000 of Debt Destroyed on a Teacher’s Salary – with Allison Baggerly

For some people, their pile of debt can feel so huge that paying it off just feels like fiction. It feels impossible. It feels overwhelming.

Well today, I’ve invited someone on the show who felt the same exact way, but then she took action and won the battle against her debt.

Allison Baggerly and her husband partnered together to pay off $111,000 of debt in 4 ½ years. They completed this difficult feat on two teacher’s salaries with two little kids at home. In our interview, she’s going to share with us how she did it.

Continue reading “Over $100,000 of Debt Destroyed on a Teacher’s Salary – with Allison Baggerly”

How to Increase Your Net Worth by $800,000 in 8 Years

One fall night in 2010, my wife Nicole and I were watching the Suze Orman Show. (Yes, I used to DVR it). There was this fun segment where someone would call in and Suze would analyze that person’s financial health and give them a grade. It was called How Am I Doing?

One term that we kept seeing over and over again on this segment was “Net Worth”. Since we were personal finance newbies, we had no idea what this meant. Nicole and I were making a combined six-figure income together so we figured our net worth must be HUGE.

After the show was over, we decided to see how rich we really were. There was no doubt in our mind that we’d be better off than most of the jokers that call in to the show and get an “F” grade from Suze!

via GIPHY

We walked upstairs and started to write down all of our numbers on a big white board. By separating our “assets” (what we owned) and our liabilities (what we owed) into two big columns, we started to discover that we weren’t rich.

We were kinda broke.

Continue reading “How to Increase Your Net Worth by $800,000 in 8 Years”