Red Rover, Red Rover send the Spender right over

“I work all night, I work all day to pay the bills I have to pay, and still there never seems to be a single penny left for me.” – Money, Money, Money

A lot of people get into debt because they spend and spend a lot.  In our first year of marriage I think we were spendy.  No kids, newly married, living under the same roof for the first time – it was exciting!

At the end of our first year of marriage we were surprised, excited and even a bit terrified to find out we would be welcoming a child into our lives.  At that point we stepped back and started living more wisely than we had been.  We had a clear cut budget, we were saving well, we were paying what we could toward school and preparing for baby.

I should tell you at this point I spent 10+ years working in the field of finance.  I understand budgets, numbers, investments the whole package.  I was just naive – I worked with and for people 20+ years older than me and never thought those concepts applied to me.

When I started putting them into practice it was already too late.  Our spend year (and it only took one year) had made us feel invincible.  To turn that around would take a miracle – and that is where you find us today!

Tomorrow: Money Misstep #1:  Student loans are cheap money.

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~ by Rachael Judd on June 16, 2010.

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