"We were doing Dave Ramsey before Dave Ramsey was doing Dave Ramsey."
Welcome to We're Both Right, where James and Jen share their experiences and insights on life, marriage, and money. In this episode, they discuss their different views on money and how they learned to manage it as a couple.
Learning to Manage Money Together
James and Jen share their experiences of learning to manage money as a couple. They talk about their different backgrounds and how they had to combine their views on money to create a solid financial foundation for their future.
Different Perspectives on MoneyJames talks about his upbringing, where spending money was the norm and saving was not a priority. Jen, on the other hand, grew up in a household where saving money and being financially responsible were the main focus.
- James: Spent money as soon as he had it, without much thought for the future
- Jen: Saved money and prioritized financial stability
Combining Financial Views
As they started planning for their future together, James and Jen had to find a way to combine their different perspectives on money. They had to come to terms with their individual approaches and find a middle ground that worked for both of them.
Setting Financial GoalsThey talk about setting financial goals and creating a plan that allowed them to save, pay bills, and still have some spending money for fun activities.
- James: Initially struggled with the idea of saving and budgeting
- Jen: Prioritized saving and creating an emergency fund
Financial Independence and Freedom from Debt
James and Jen discuss the importance of financial independence and the freedom that comes with being debt-free. They share their experiences of living with no debt and having an emergency fund in place.
Learning from OthersThey also talk about how they were influenced by older married couples who were in debt despite having material possessions. This experience motivated them to prioritize financial stability and avoid falling into the same trap.
- James: Realized the importance of financial freedom from observing others' financial struggles
- Jen: Prioritized financial stability and avoiding debt
Living Beneath Their Means
In this new chunk of the transcript, James and Jen share how they made a conscious decision to live beneath their means. They talk about their early struggles, starting with a small apartment and furnishing it with affordable items. They emphasize the importance of not overspending and avoiding debt.
- Started with nothing and lived in an affordable apartment
- Made a decision to always live beneath their means
- Furnished their apartment with affordable items from garage sales and saved money
- Bought a mattress and a box spring and saved up to buy a bedroom suite
- Emphasize the importance of living beneath their means to avoid financial stress
Join James and Jen as they share more insights and experiences on life, marriage, and money in future episodes of We're Both Right.
Stay tuned for more valuable insights and discussions on managing money as a couple. Don't forget to subscribe to our podcast for more tips and advice on navigating life and finances together.
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Transcript available on website.
