In today’s episode, I sit down with my sister-in-law to talk about money. We talk about the power of small victories, the importance of budgeting for fun and play, and the role gratitude and contentment play in our attitude and approach to our finances. We talk about the need to teach our children about money management, the problems both super-spenders and misers have with money, how priorities tend to change when we do, and how feelings of scarcity can cause us to act out in different ways regarding money. We wrap it up by sharing a few small but realistic action steps you can take today to gain control of your finances.
My sister-in-law and brother-in-law were able to pay off $143,000!!! in debt (in just over 3 years) using principles they learned from Dave Ramsey. If anyone is interested, I encourage them to check out his book Financial Peace. His book, Total Money Makeover is also a great option.
I shared that we are teaching our kids about the 10/10/80 principle. (Either tithe/save/spend or give/save/spend). I found a few cute options if you want something more ready-to-go than jars. Check out this Spend.Save.Share. Bank.
Here is an example of a cash envelope system that you wouldn’t need to create yourself.
I referenced being like Scrooge, who doesn’t want to heat up the ink. In case you aren’t into classic Christmas stories, Scrooge is from A Christmas Carol. (Side note that has nothing to do with money, my FAVE version of A Christmas Carol is The Muppet Christmas Carol.)
I joked that they put my sis-in-law’s family motto on throw pillows for a reason….and I actually found a throw pillow with it!
“Gratitude turns what we have into enough.”