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Posts tagged with: keeping motivated to pay off debt

He says, She says

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I loved when Adam and Emily did the “he says, she says” post. So fun to see their different personalities and spending-styles emerge. And like most couples, my husband and I don’t always agree on where to put our money (which currently is being thrown toward debt hand-over-fist).

Now, don’t get me wrong – husband is 100% committed to eliminating our debt. Most of it is mine and he agrees that it has to go (and he’s been involved in creating our budget and debt-reduction goals, so even though I’m primarily the one who writes out the checks and pays the bills, he’s totally involved in the process). However…..sometimes I find that even though he wants to be debt-free, he would perhaps prefer to do so at a slower pace that allows us more “free” money for spending, or adding money to our savings instead of putting so much directly toward debt each month (we put nearly $1700 per month toward debt when our bring-home is about $5,000 per month; so about 34% of our income goes straight to debt).

Side Note: You can see our full budget here, and our debts here.

Although I typed this up (husband isn’t much into blogging), this is almost verbatim transcript of a conversation we had the other day, so I think I’m representing him and his thoughts fairly:

Our Thoughts On Spending…

 

He Says:

Imagine going to the gym for months and months. You’re killing yourself by waking up early to hit the gym, eating clean, and passing by lots of opportunities for “fun” that could side-track your health and fitness goals. But then you step on the scale (or have your BMI checked) and you’re still in the exact same position you were in before starting your exercise regiment. Would you continue it? No way! You need to see results in order to be motivated.

It’s the same thing with money and paying down debt. Especially since my job is a very physical one. I go to work everyday and kill my body. I do it to provide for my family and improve our quality of life. If our quality of life isn’t going to improve for 5-10 years, then what’s the motivation? I need to see something that shows me my work is getting me somewhere. Be it a nice home, a new shirt, or a little family vacation. Those are the rewards that make killing myself at work worthwhile.

 

She Says:

I definitely see the analogy, but at the same time – the only way to true wealth is through being debt-free. Rewards aren’t on the short-term; they’re on the long-term. I never should have accrued so much debt, but it’s done now. And I think our focus should be on paying it back as opposed to continuing to spend money elsewhere.

 

So, what to do? The conversation had no real resolution. Just him stating his feelings, which I think is fair to do. He works very hard and his job truly is a physically exhausting one. It can be difficult to do that type of work and not see the fruits of one’s labor, since we continue to cut back more and more instead of gaining…I don’t know…wealth???

I listen to the Dave Ramsey radio show and LOVE the segments with REAL PEOPLE telling their debt stories and doing their “debt-free screams.” Dave always asks the same questions (what made you start this journey? what was the hardest? what was the secret to getting out of debt?) One thing I hear over and over is people say that it was absolutely crucial to be on the same page with their spouse.

I wouldn’t say my husband and I aren’t on the same page (at the end of the day, we both want to be debt-free), but maybe I’m one chapter ahead? Or I’m just reading the book at a faster pace???

 

What’s your money-relationship like with your spouse? Are you on the same page? What do you do to help motivate and encourage your partner?