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SERIES: Working Together To Win With Money – Part 3

Welcome to the latest series at JosephSangl.com – “Working Together To Win With Money”.

In this series, I will be writing about the benefits that Jenn and I have enjoyed since we started “working together to win with money”.

Benefit #1 - We both know the financial situation.

Benefit #2 – Improved communication

Benefit #3 – Dreams Get Funded!

This is one of the best results from working together with my bride to win with money!  Because we work together on our finances, it leads to excellent conversations about what our dreams are.

We have tons of dreams …  A new kitchen with granite countertops, a new master bathroom, paying for our daughter’s college education, paying cash for our daughter’s first house, giving away $1,000,000, starting a university, living for a year in downtown Chicago, traveling to Australia, Europe, and Asia, owning a 100 acre farm …

Quite frankly, the list of dreams goes on and on.  BUT because we talk about them, some of them get funded.  In fact, it is my belief that one hundred percent of the above goals will be funded during our lifetime.  Why do I believe that?  Because we have had many of our dreams funded already!  Many of them were dreams that we did not think were really possible, but it is amazing what happens when you have a plan and work together to win with money.

If we fail to achieve all of our dreams, so be it.  It will be a blast knowing that Jenn and I gave our best effort TOGETHER!

Keys To Obtaining Benefit #3

  • Remove all distractions and take the time to have a great conversation about your plans, hopes, and dreams.
  • Ask these questions of each other:
    • Will these dreams cost money?  How much?
    • If we continue to manage money the way we are right now, will we be able to achieve these dreams?
    • What is your most important dream?  How can we start funding it right now?

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SERIES: Working Together To Win With Money – Part 2

Welcome to the latest series at JosephSangl.com – "Working Together To Win With Money".

In this series, I will be writing about the benefits that Jenn and I have enjoyed since we started "working together to win with money".

Benefit #1 - We both know the financial situation.

Benefit #2 – Improved communication

When Jenn and I were B-R-O-K-E and constantly spending money that we did not have, we really had no idea where our money was going.  All we knew was that it was leaving at a very rapid pace!

Once we started working together to plan our spending every month, our communication changed dramatically!  I now know when each of my nephews and nieces have a birthday because we send them money.  We can't just magically produce the money we send them every birthday.  It must be planned.

We also discuss our future plans hopes and dreams.  We talk about which dreams will be funded now and which ones will need to be funded later.  We have made a decision, together, to fund our daughter's college education – through PhD if she so chooses.  We fund that education every single month.  It is a priority, and we have agreed together that it is extremely important to us.

We both want to travel extensively all around the world.  We have made the decision that most of those travels are going to be funded in the future, not now.  BUT we have funded a few trips.  This summer, we took a sixteen day vacation and drove from South Carolina all of the way through North Carolina, Tennessee, Kentucky, Indiana, Illinois, Wisconsin, Minnesota, and South Dakota.  We hung out with family.  We saw Mount Rushmore.  We saw the Independence Day fireworks at Mount Rushmore!  We saw buffalo – hundreds of them.  We saw antelope.  We hiked in a cool cave – over 200 feet below the surface.  We funded this trip and paid cash for it – because we agreed together to fund it.

We have been able to give to causes and people that we believe in – because we have a plan that we have worked on together.

To put it very bluntly – there is no possible way that we are ever going back to our old way of money (mis)management.   Our marriage has been vastly improved by the fact that we work together to win with our money.

Keys To Obtaining Benefit #2

  • Understand each other's plans, hopes, and dreams.
  • Take time to develop a written spending plan TOGETHER – visit HERE
  • Plan your spending EVERY SINGLE MONTH – ensure that you are funding at least one of your dreams at all times
  • Become debt free – calculate your Debt Freedom Date HERE

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SERIES: Working Together To Win With Money – Part 1

Welcome to the latest series at JosephSangl.com – "Working Together To Win With Money".

In this series, I will be writing about the benefits that Jenn and I have enjoyed since we started "working together to win with money".

Benefit #1 - We both know the financial situation.

Before Jenn and I started working together on our finances, there was a lot of situations where we each spent money that we had not planned on spending.  As a result, we would run short of cash at the end of the month, and we would end up covering the shortages with credit cards.

Because neither or us truly understood where all of our money was going, it led to financial mistakes.  Those financial mistakes would lead to unnecessary stress and frustration.

It also resulted in an average bank account balance of $4.13, BUT at least it was positive.

We later realized that our financial behavior was potentially robbing us of our future hopes, plans, and dreams.

In December 2002, we had our IHHE Moment (I Have Had Enough Moment) and said, "ENOUGH!", and stopped spending money in a wild manner.  By July 2003, we formalized our spending into a monthly spending plan (budget).  Ever since that month, we have planned every month's spending.

The result?  We have been debt-free (except the house) for nearly five years.  We have made progress toward our life dreams.  We BOTH know the financial situation.

Keys To Obtaining Benefit #1

  • Prepare a written spending plan every single month – visit HERE
  • If you have a financial mess, it is time to have an IHHE Moment – read HERE
  • Take the time to talk with your spouse about your hopes, plans, and dreams

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