Personal finance is the process of planning and managing personal financial activities such as budgeting, income generation, saving, spending, and investing, taking into account financial risks and future life events.
When my fiance and I make decisions in our financial lives, we always remind ourselves of our why. Why were doing this and why we need this. But that’s just it, it’s us. At the end of the day, our financial decisions are decided upon our needs and wants for our lives. Your financial decisions need to be made this way too.
There are thousands of methods and advice you can take from so many different voices, but the best one to listen to is you. We personally started our debt free journey listening to Dave Ramsey and following his steps like so many people before us. We quickly realized that gazelle intensity wasn’t for us.
What We Like to Spend Our Money On
Craig and I were supposed to get married last November but unfortunately had to postpone an entire year. Want to know why? Because we want a big wedding. We absolutely could have had a small intimate wedding, but we knew what we wanted and decided to wait until we could make that happen! I’ll be honest, I didn’t think we were going to spend this much money. It’s kind of crazy but, it’s something we personally value and cannot wait to say “I do”.
I cannot live without my coffee from Dunkin’ and Starbucks. I love a good cold brew these days. Oddly enough, it’s more than a cup of coffee to me. It hypes me up and fuels my soul. That little piece in my budget keeps me going and pushing through my goals. So yes, the $50 a month is completely worth it to me.
Since I’ve met my fiance, I’ve been to six new states, went out of the country for the first time, and have flown on a plane more than I ever have. We absolutely love to travel! Most people would give up the trips and experiences but not us. We’re constantly planning new places and trips to take and don’t plan on stopping even with debt.
We love kids. In fact, we had our kids names picked out a few months into dating and cannot wait to start a family. I’ve been given the unwelcome advice to “wait until we’re financially ready” or “take your time, you’re so young”. But in reality, if you’re waiting until you’re financially ready to have a baby, you will likely never feel ready. Yes, having a baby does affect your finances, but it’s a personal choice!
Personal financial decisions should be based on personal beliefs, not numbers.
Let’s Talk About You
If you’re faced with the challenge of making personal financial decisions, the very first thing you want to remember is your why. Asking yourself “how is this decision going to affect me?” and “is the decision I want to make worth it?”. Obviously, you want to try to get your financial situation in place before making big life decisions, however, that’s not always the case and that’s okay.
When it comes to my clients, we’re in a full judgement free zone. We all need to make these big decisions based on what’s best for our situation. You may be at a job you hate and found one you love but for less pay. Maybe your car is a piece of junk and you need to find something super reliable. Whatever the case may be, there’s always a solution to the problem when it comes to personal finance.
You can find that balance of living your best life, while still paying off debt. I personally would never ask a client to sacrifice the things they love because I wouldn’t do it myself!