Sam and Erica’s Marriage podcast - Money in your marriage - Part 3 of 4 - 003

Sam and Erica's Marriage podcast

Money in your marriage Part 3 of 4: Money - How we save it

Episode 003

January 28, 2019

Introduction

1. Who we are
2. How we got here
3. What the podcast is all about

Discussion How we save money

1. Why should we save?

Proverbs 13:11 Dishonest money dwindles away, but whoever gathers money little by little makes it grow.

Proverbs 21:5 The plans of the diligent lead to profit as surely as haste leads to poverty.

 

2. How do we save.

Types and tiers

1. The Emergency Fund

1. $1000
2. Gotta do this first!
3. When you have it unexpected expenses seem to pass you by.
4. When you don’t have it unexpected expenses seem to be drawn to you like you're some kind of magnet.
5. Needs to be separate from your other finances...so it doesn’t just get pulled in.

1. Retirement savings

1. Super important
2. Invest early- can’t beat the math of compound interest
3. Don’t turn down your free money-you’ll get back to it later.
   1. Offered to participate in 401K program through work and I opted out
4. DO something!

1. Special occasion, event or purchase savings

1. Christmas - same day every year
   1. We didn’t always save or have a plan
   2. When we did it went smoother and there was less friction. Make sure you are in agreement on how much to spend.
2. Vacations - cost divided by the number of months you have until the trip. Don't forget the spending money.
   1. When you plan there is less stress. You can actually vacate while on vacation, no worries about the bills or what the bills will look like when you return home
   2. Make sure the vacation matches the season you are in in your finances. The important things are that you plan ahead and the time you spend with family.
   3. Cedar Pointe and affordable hotel stay vs Disney World (possible credit card).
   4. Be consistent (you don’t want to try to “catch-up”).

3. Household upgrades - sofa, tv, refrigerator

a.Make a list of what you want to get done in the house, together.

1. Save towards getting those things accomplished. Consider order of importance.
2. Compromise: Some things will be important to you and not your spouse.
3. Be flexible: The list will change.

 

4. Make sure you are in agreement on how you will save and what you are saving for.
5. Talk about the end game. You want to feel like you are working towards something.
6. Be on the same page:
7. Mark 3:25: If a house is divided against itself, that house cannot stand.
8. Psalm 133:1: How good and pleasant is it when God’s people live in unity!
9. Celebrate your victories!

ACTION ITEMS

1. Plan a day to discuss all of your thoughts on saving and what you would like to save for. Hear each other’s hearts about saving and develop a strategy to address what you uncover. You may realize how all of our action plans require some sort of discussion. That’s our way of getting you to discuss your finances.
2. Pray for our podcast
3. Like us on social media, FaceBook, Twitter and Instagram.

RESOURCES

Budget - Excel spreadsheet

Our Spending Plan (Budget) spreadsheet

 

Dave Ramsey - Total Money Makeover

The Total Money Makeover on Amazon

 

Money and Marriage God’s Way

Money and Marriage God's Way on Amazon

 

NEXT EPISODE

Next week we'll discuss how to give it.