Let us create a 3D eBook for you!
Let us create a 3d Digital eBook for you! DigyCat.com

Budget the Luxuries First!


Strictly speaking, his advice was preceded by another Heinlein maxim as well. "Sovereign ingredient for a happy marriage: Pay cash or do without. Interest charges not only eat up a household budget; awareness 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 tune of over $10,000. Assuming an interest rate of 18%, this works out to about 150 bucks a month going to the credit card company. That's money NOT available for things like fresh flowers on your desk... new skis... upgrading to gourmet coffees and wines for daily consumption, or dinner out (including tips and babysitter).

Luxury item #1: Get out of consumer debt

Being debt-free is an incredible luxury! There are a ton of books and articles out there already on how to budget and avoid debt, so I won't hold forth on how to do it. The important issue is WHY to do it. And the answer is simple. Peace of mind is the ultimate luxury!

Luxury item #2: Make some time to make a wish list!

While putting the wheels in motion on reducing debt, there's a happier issue to think through as well: What is it you really want out of life? Peace of mind (and of household) starts with asking these Really Big Questions!

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

What are the things in life that really feel like luxury to you? Now is the time to identify them, and separate out the smaller, less satisfying things you're paying for that keep you from getting what you really want.

To keep to the spirit of fun, I've found it's useful to agree to some simple ground rules:

  • Make some unbroken wish list time for the two of you

  • There are no such things as 'silly ideas' or 'waste of money' items during the wish list time (that will come later on during a reality-check period)

  • No impulse spending during the wish list time! Window shop if you want, share a seat in front of the computer if you're looking online... my preference is to go hang out in antique markets and bohemian shopping districts for ideas, but you might prefer to go visit a travel agent's office or web site. It DOESN'T matter!

  • Each partner gets equal time to show off their ideas if they want it.

Being realistic, there will, of course, be a price tag associated with the wish list. Also being realistic, not all luxuries cost an arm and a leg, either. If you have the iron will to make a strict budget and do without so that you can go hang out in Tuscany for a month next fall, good for you (and yours!) If you're like me, though, it may make sense to make do with lesser luxuries.

Luxury item #3: Keep looking until you find reasonably-priced luxuries that really make your life more worth living, then revel 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 sweetie about money, without it being a crisis! You've spent some time dreaming together. You've examined your debt and thought about what it's costing you. And with any luck, you've found at least one thing you can enjoy without feeling guilty about what it's costing you... because it's an investment in your piece of mind.

--

Print and Internet publication rights are granted, free of charge, for this article, provided the credit paragraph and copyright remain intact.

If you use this article in HTML form, please set resource link as a hyperlink. Please e-mail me the URL of any place the article is posted, or a copy of any electronic newsletter or eZine, etc. A copy of any printed publication using this article would be greatly appreciated (contact me via e-mail for mailing address!)

About The Author

© Andy White, budget guy for Coudy Coffee - because life is too short for mediocre coffee. For gourmet coffee and espresso; coffee gifts, information and resources, visit http://www.coudycoffee.com.

andy@coudycoffee.com


MORE RESOURCES:

Debt Releif - Google News

This RSS feed URL is deprecated

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Freedom Debt Relief Offers 5 Tips to Help Consumers Avoid Becoming Victims of Identity Theft - PR Newswire (press release)


Freedom Debt Relief Offers 5 Tips to Help Consumers Avoid Becoming Victims of Identity Theft
PR Newswire (press release)
SAN MATEO, Calif., Nov. 21, 2017 /PRNewswire/ -- As travel and online shopping ramp up during the holiday season, the risk of identity theft grows as well – and these common crimes can result in increased cost of debt for people who do not catch the ...

and more Â»

Browne calls for Paris Club debt relief - Antigua Observer


Courthouse News Service

Browne calls for Paris Club debt relief
Antigua Observer
Yesterday, Prime Minister Gaston Browne seized an opportunity to call on the Paris Club group of lenders to grant his country some breathing space on its debts, as the nation looks to recover from the devastation wreaked by Hurricane Irma in September.
Calling Conditions Primitive, Barbuda PM Vies for Hurricane Relief Courthouse News Service

all 8 news articles Â»

FSB requests all documents on Yeltsin Center's $10m-debt relief - https://en.crimerussia.com/


https://en.crimerussia.com/

FSB requests all documents on Yeltsin Center's $10m-debt relief
https://en.crimerussia.com/
The Office of the Federal Security Service in Sverdlovsk region requested for all materials on the transaction upon which the government of the Sverdlovsk region will write off interest on the debt of Yeltsin Center in the amount of 598 million rubles ...

Puerto Rican coalition calls for full recovery funding and debt relief - Florida Politics (blog)


Florida Politics (blog)

Puerto Rican coalition calls for full recovery funding and debt relief
Florida Politics (blog)
A national coalition of Puerto Rican groups with heavy representation in Central Florida urged in Orlando Monday for Congress to offer full relief funding for the hurricane-ravaged island and for Florida and federal relief for evacuee housing in the ...

and more Â»

Getting Help with Credit Card Debt: Freedom Debt Relief Suggests 7 ... - Markets Insider


Getting Help with Credit Card Debt: Freedom Debt Relief Suggests 7 ...
Markets Insider
SAN MATEO, Calif., Nov. 20, 2017 /PRNewswire/ -- For the many Americans who face unmanageable credit card debt, it's time to get their financial lives in order, ...

and more Â»

Feds sue nation's largest debt-relief provider - Jackson Clarion Ledger


Jackson Clarion Ledger

Feds sue nation's largest debt-relief provider
Jackson Clarion Ledger
The Consumer Financial Protection Bureau has sued the nation's largest provider of debt-settlement services, alleging that Freedom Debt Relief deceived and misled consumers about its services and fees. The agency announced the lawsuit Wednesday in a ...

and more Â»

China makes no offer of debt relief for Venezuela - ABC News


Venezuelanalysis.com

China makes no offer of debt relief for Venezuela
ABC News
China on Thursday made no offer of debt relief to Venezuela, but said it was confident the country can deal with the problem. The statement from the foreign ministry came a day after Russia and Venezuela signed a deal in Moscow that envisages Venezuela ...
Venezuela, Russia Agree to Restructure Debt as China Voices Confidence in Caracas Venezuelanalysis.com
Putin extends lifeline to cash-strapped Venezuela CNNMoney
Obscure Dutch Firm Wins Venezuelan Oil Block As Debt Tensions Mount OilPrice.com
RT
all 137 news articles Â»

Russia Offers Venezuela Debt Relief - Wall Street Journal


Wall Street Journal

Russia Offers Venezuela Debt Relief
Wall Street Journal
MOSCOW—Russia threw a lifeline to Venezuela on Wednesday, restructuring the more than $3 billion it is owed by its economically and politically troubled South American ally. The Russian Finance Ministry said the debt of $3.15 billion would now be ...

Freedom Debt Relief: CFPB “fundamentally misunderstands” debt settlement process - HousingWire


HousingWire

Freedom Debt Relief: CFPB “fundamentally misunderstands” debt settlement process
HousingWire
Last week, the Consumer Financial Protection Bureau sued Freedom Debt Relief, the nation's largest debt settlement services provider, claiming that the company repeatedly lied to its customers about the company's ability to negotiate debt settlements.
Consumer board accuses Freedom Debt Relief of alleged deception ... Legal News Line

all 7 news articles Â»

LargeFriends.com - the best dating site for plus-sized singles!
SuccessfulMatchCentral.com - the best dating site for plus-sized singles!

PreLaunchX

PrimeNews Domain Is For Sale - $5,000 For Enquiries eMail Us

© www.PrimeNews.biz - 2012

home | site map | links