How to Reset and Knock Out Debt Together Before The Year Wraps Up

Debt can be a huge weight on any couple’s budget. We cover three major ways you can start paying it off faster. We also get into how to open up if you’re carrying debt and haven’t told your spouse!

Getting Back To Dumping Debt

As if the pandemic isn’t enough stress, millions of families have to deal with the financial fallout. 

And If you’ve had to deal with job loss, reduced hours at work, or uncertainty at your job about its stability, these past few months you’re hyper aware of your cash flow. 

And because of that, any debt that you carry (maybe with the exception of federal student loans) feels like it has a bigger impact than normal. 

During our mini-series about financially dealing with the coronavirus, we discussed that building up that financial cushion is key. 

And hopefully, things have stabilized somewhat and you have those savings available should you need it. 

However you may be wondering is there a way to get some breathing room and knock out some debt before the year wraps up. 

 

I think you’ll enjoy today’s show then! 

In this episode we’ll get into:

• A system to pay your debt off
• ways to you can start paying it off faster
• how to open up if you’re carrying debt and haven’t told your spouse

Let’s get started!

Resources to Dump Your Debt Together

If you two are ready to pay off your debt, here are some handy resources to check out:

• Best Budget and Money Apps: Personal Capital, Tiller, Mint, Zeta
• Free 5 Days to $5K Course
• Jumpstart Your Marriage and Your Money
• Trim: With Trim, you can cancel subscriptions and negotiate your bills.
• Billshark: They contact your service providers and negotiate the best price on your behalf.
• Paribus: Bought something and a week later the price drops? Paribus can get you back the difference.
• Total Money Makeover
• Free Debt Snowball Template
• How to Diffuse Money Fights
• What’s Your One Page Financial Plan?
• How to Build Income Streams to Knock Out Your Money Goals Faster
• Yours, Mine, and Ours: Dealing with Debt and Marriage

Thank You to Our Partner Coastal

Support for this podcast comes from Coastal Credit Union!

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

• Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
• Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your review on Apple or Stitcher.
• Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!