Money & Marriage Mondays - Money Baggage

Photo Credit: vacation.com

Money Baggage

Let's face it, money is not generally the first thing you think about with respect to compatibility when you meet your spouse. 

But... it cannot be avoided. Ultimately, money questions will have to be faced if you have any type of long-term relationship. You bring your money baggage and your spouse brings theirs. 

Money baggage comes in many forms. Some bags are heavier than others. Perception of money baggage differs too. What may seem "heavy" to you, may not be "heavy" to the one bringing it. 

The key is not to avoid it. Open up all the bags and unpack them, preferably before you get married. Be honest in your feelings. If you are not open and honest from the beginning, it will put a strain on the relationship later. Come to an agreement of what to do about past money baggage and how to handle money going forward, together. Get on the same page. Re-visit as necessary to make sure your plan to go forward is on track.

Although, it may be scary, unexpected, or maybe even easy, when you know what to expect going forward, then do the work needed to get rid of the baggage.  That way, money doesn't have to be the main focus because of pressure. It can be put to the side and just work through as you planned so you can concentrate on each other and the things that made you truly fall in love. 

You can master your money... and I can help!  

Contact Michelle Serna by filling out the Contact Me form.

Money Wellness Wednesday - Emergency Fund Spending

Photo Credit: thebalance.com

Emergency Fund Spending

You worked hard to save up for an emergency. Even though you know these funds are for emergencies, there are sitting there in savings and tempting you to spend them. 

Make sure you ask these 3 questions before spending your emergency funds: 

1) Is the thing you want to spend your money on UNEXPECTED? For instance, do you need to pay your rent or mortgage because you lost your income due to downsizing or health? Or did you just forget about a big bill that comes up annually? 

2) Is this something that is absolutely NECESSARY? Sometimes things seem "necessary" because it looks like a really good deal that you may never see again and you were thinking about getting it anyway. But at the end of the day, it is still just a want.

3) Is this URGENT? If you decide it is a need, is it something you have to have today or can you wait and save up to buy it later? If your water heater is making some pinging and knocking noises but it isn't broken, you can save up over the next few months for it so you won't have to dip into the emergency funds.

And if you decide it meets all 3 criteria above and you have to dip into the emergency funds, make sure you build that fund up again as soon as possible, you know, in case of another ergency.

You can master your money... and I can help!  

Contact Michelle Serna by filling out the Contact Me form.

Money Freedom Friday - Be Free

Photo Credit: Michelle Serna

Be Free

This weekend, we celebrate our freedom. We celebrate America's declaration of independence from things that kept us from being free to make our our decisions.

This weekend, I encourage you to make a declaration of independence from being in debt. "I am FREE to be independent of what others say I should have and do that causes me to be in debt. I am FREE to be independent from "but that's just the way life is" debt. I am FREE to make my own decisions on what is best for me and my family.:"

Do not accept debt as normal. Do not accept debt as necessary. See finances in a new light. See money as just a tool. See yourself directing your money instead of it directing you. Make the hard choices now so you can see FREEDOM from debt, not just in your imagination, but in actuality. 

You can master your money... and I can help!  

Contact Michelle Serna by filling out the Contact Me form.