A few months ago, I began working with Mary and Steve, a married couple in their 50s who had complimentary financial skills. Steve grew up poor as a child, so he tends to be the frugal one with day-to-day expenses, like groceries, gas, etc. Mary grew up as a saver, but always wanted to see the “bigger picture” with money. She was interested in making money moves that had a larger impact overall on their finances, like refinancing their homes when the interest rates were low.
In the first session, Steve said, “I feel like we could be handling our money better.”
More specifically, they wanted to have a better understanding of where their money was going each month, as they did not have a current budget. Next, they wanted to balance saving for retirement and paying for two kids to go to college. Finally, they wanted to learn how to communicate more effectively about money.
They have an annual take-home pay of $153,000, with two teenagers in the house.
They are saving for retirement, and have about $466,000 put away so far.
There was about $14,000 in credit card debt.
And about $50,000 put away for general saving.
Our goal was to create a crystal clear plan that would work for their family so that they would know where they were headed financially.
In just three months time, we:
- Created a clear plan for their money based on their financial priorities.
- Created a plan to eliminate the credit card debit by the end of the year.
- Determined how to best use the money in savings.
- Created specific plans for retirement and college savings.
They are now working on the plan we created with confidence! After the second session, Mary reported, “I think the process is working! We are having healthy conversations!”
Sometimes a couple has a hard time looking at their finances with a fresh perspective. Often, I am able to help them to create a clear plan with their money, so that they can go on to think, and talk, about things besides finances!
If you are looking for clarity with your money, I would love to help you.
Use the contact button to schedule your consultation and let’s discuss how I can help you to achieve your financial goals!
