Sometimes it’s hard enough to manage your money when you’re an individual, but as a couple, your finances can feel like a much bigger responsibility. It can also be a struggle if debt is holding you back, and the stress of living paycheck to paycheck can put a strain on your relationship.
But through openness, communication, and unity within a marriage, there’s a light at the end of the tunnel. Here at The His & Her Money Show, we’re all about marriage, family, and anything in between – and smart money couples are at the top of the list!
On today’s episode of The His & Her Money Show, we’ve got Alex and Cassie from The Thrifty Couple over to talk with us about money, marriage, and of course, debt destruction!
Once upon a time, they were a whopping $108,000 in consumer debt – credit cards, student loans, and beyond. None of these expenses were too shocking alone, but together, they added up!
[bctt tweet=”After we started this journey and we were working together to what seemed like an impossible feat, our relationship became closer than ever.” username=”hisandhermoney”]
This smart money couple wasn’t always so savvy. Establishing good money habits as a duo didn’t start out on the right foot when they took out a loan to check out of the hotel on their honeymoon.
But life went on, and even as they racked up more and more debt and found themselves struggling to pay their priority bills, nothing really gave them the nudge to reevaluate their financial situation.
At least, not until four and a half years into their marriage, life tossed in the ultimate game-changer: a positive pregnancy test. Suddenly being responsible for a brand new life was just the wake-up call that Alex and Cassie needed.
They knew they didn’t want their kid to grow up in this situation, and put themselves to work kicking their debt to the curb. It wasn’t always easy; Alex and Cassie never had much luck following a budget, but they persevered!
They initially took the “crash budget” approach, and the first $15,000 took three years to eliminate. Then it was time to switch tactics. Sometimes slow and steady wins the race, so next, they decided to tackle their debt gradually, making small changes to their lifestyle over time, side hustling and sticking to the master plan – and three years after that, the last $90,000 of their debt was gone!
Writing that last check to that last payment was just the biggest burden lifted off of our shoulders.
Want to keep up with Alex and Cassie? Follow them on TheThriftyCouple.com!
What You Will Learn
- Common mistakes when using the “crash diet budget”
- Side hustles and generating extra income
- Communication as a couple, especially about finances
- How Alex and Cassie cut their budget over time and gradually eliminated their debt
Resources Mentioned
- The 2% Rule To Get Debt Free Fast by Alex & Cassie Michael
Thanks For Listening!
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