Today I’d like to share with you a great financial tool I stumbled across that has been a huge help to us as we take steps to once and for all pay off our debt. If you’d like to read about how we got into this mess in the first place you can start here and if you’d like to read about how we simplified our debt snowball you can check out my post here.
I’m not getting paid for any of this, I just simply want to share with you so that hopefully you can benefit from it, too!
Brightpeak Financial offers a tool called “Together” that is designed to help couples get out of debt. It’s similar to Dave Ramsey, but it’s designed specifically for married couples and it’s FREE. Watch the video here.
When you sign up for an account you will be given a checklist of tasks to complete with your spouse. This is part of what I love about Together-you do it together. It’s really hard to make financial changes if you and your spouse are not both on board. Together is like marriage counseling and financial counseling rolled into one!
Here are some of my favorite things on the checklist: they ask you what your why is. Why do you want to get out of debt? This is so important during those times when you’re discouraged or tempted to spend money when you don’t have it. If you’re able to go back and reflect on your “why” you’ll be less likely to fail. Another thing they recommend is paying the easy way. We set up all of our utilities, mortgage payment, credit cards, car payment, etc. to automatically deduct from our checking account when they’re due. No more accidental missed/late payments and we know exactly how much
is coming out each month so it’s easier to plan. Simple. Stop your spending leaks was a BIG one for us. I went over our account and saw places we were spending money we didn’t need to spend. Magazine subscriptions, memberships we didn’t need, the killer $5 stops at Starbucks, etc. We canceled the subscriptions and memberships and started making more coffee at home. If you’re like me you’ll like this one. One of the last things on the list is paying your debt AND living your life. It’s not an all or nothing plan. Not a “no fun for the next three years until it’s all paid off” plan. They show you how to pay off your debt while also saving for other goals like a vacation. We really liked this because let’s face it. We want to be able to do some fun things here and there while our kids are still home.
Once you’ve gone over the checklist they’ll set up what’s called “My Metrics.” It tracks how you’re doing over six different areas including spending, paying off your debt, saving and your relationship! You can update them at any time and I find it gives me that extra motivation to keep going. You can also set goals and track those, as well. And another AMAZING thing? They have professional financial coaches available at any point to answer questions and help you through your journey. How WOW is that?!
My next post will tell you about Brightpeak’s AWESOME app, Illuminate. I CAN.NOT.WAIT for you to hear about this-SO helpful! But for now, I encourage you to check out “Together” and see if it’s right for you!