Budget the Luxuries First!

Strictly speaking, his advice was preceded by another Robert A. Heinlein axiom as well. "Sovereign ingredient for a happy marriage: Wage cash or make without. Interest charges not only eat up a household budget; consciousness of debt eats up domestic felicity." Today, that advice gets abused eight ways to Sunday, as the average household is currently carrying credit card debt to the melody of over $10,000. Assuming an interest rate of 18%, this plant out to about 150 vaulting horses a calendar month going to the credit card company. That’s money NOT available for things like fresh flowers on your desk... new skis... upgrading to epicure javas and vinoes for day-to-day consumption, or dinner out (including tips and babysitter).

Luxury point #1: Get out of consumer debt

Being debt-free is an unbelievable luxury! There are a short ton of books and articles out there already on how to budget and avoid debt, so I won't throw forth on how to make it. The of import issue is WHY to make it. And the reply is simple. Peace of head is the ultimate luxury!

Luxury point #2: Brand some clip to do a wishing list!

While putting the wheels in movement on reducing debt, there's a happier issue to believe through as well: What is it you really desire out of life? Peace of head (and of household) begins with asking these Really Large Questions!

More importantly (assuming you actually care about your relationship), what is it your spouse craves? If you don't know, well... it can be merriment determination out. Too many financial planning exerts are painful, which is why not adequate people make them. This exercise, finding out what really matters to you both, isn't.

What are the things in life that really experience like extravagance to you? Now is the clip to place them, and separate out the smaller, less appreciated things you’re paying for that maintain you from getting what you really want.

To maintain to the spirit of fun, I’ve establish it's useful to hold to some simple land rules:

Make some unbroken wishing listing clip for the two of you

There are no such as things as 'silly ideas' or 'waste of money' points during the wishing listing clip (that volition come up later on during a reality-check period)

No urge disbursement during the wishing listing time! Window store if you want, share a place in presence of the computing machine if you’re looking online... my penchant is to travel hang out in antique markets and Gypsy shopping territories for ideas, but you might prefer to travel visit a travel agent’s office or web site. It DOESN'T matter!

Each spouse gets equal clip to demo off their ideas if they desire it.

Being realistic, there will, of course, be a terms tag associated with the wishing list. Also being realistic, not all extravagances cost an arm and a leg, either. If you have got the Fe will to make a hard-and-fast budget and do without so that you can travel hang out in Toscana for a calendar month next fall, good for you (and yours!) If you're wish me, though, it may do sense to do do with lesser luxuries.

Luxury point #3: Keep looking until you happen reasonably-priced extravagances that really make your life more deserving living, then delight in them!

That's all it takes. If you get this far, you've done a few extremely healthy things. For starters, you've actually talked to your sweetheart about money, without it being a crisis! You've spent some clip dreaming together. You've examined your debt and thought about what it's costing you. And with any luck, you've establish at least one thing you can enjoy without feeling guilty about what it's costing you... because it's an investing in your piece of mind.

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