Putting the Pieces Together
What does it mean to win with money? I could ask 20 people and get 20 different answers. We all view it through a different lens. We each possess different skills, and we each have our shortcomings. Some things we'll get right, and other things may be more of a challenge. We don't have to nail every aspect, but it's important to remove any glaring deficiencies. Most families thrive in some areas and struggle in others.
However, I recently met with a couple who inspired me to write about this topic. I've worked with this couple for over a year, but this meeting was particularly inspiring. They are a younger-ish couple, both teachers. In my mind, they've cracked the code on personal finance. No, they aren't geniuses in any one area, but they are doing good in pretty much every area. I'll summarize:
They have unity, a shared vision, and joint ownership of their finances.
They budget intentionally each month, leaning into their unique values.
They have an emergency fund to protect them for WHEN life punches.
They spend money on wants that add value to their life.
They utilize sinking funds to save for future purchases/expenses.
They give joyfully and sacrificially.
They paid off all their non-mortgage debt.
They invest with discipline, simplicity, and effectiveness.
They have cheap term life insurance policies that will replicate each person's respective income in the event of a tragic event.
They are in the process of setting up wills.
They both pursue work that matters, and find meaning and fulfillment in their careers.
They are creating financial margin to provide flexibility for future decisions and lifestyle shifts.
They are the total package! No, it's not because they have massive incomes and unlimited resources. Reminder, they are both teachers. They are normal people, making normal money, living a normal life. Except it's not a normal life. It's an extraordinary life.
What's their secret? Intentionality, discipline, humility, contentment, and consistency. That's it. Good choice after good choice after good choice. Oh yeah, and that whole unity, shared vision, and joint ownership thing. They are doing it together. There is no "mine" and "yours." Everything is "ours." For better or worse.
Yes, this is an opportunity for me to brag about this amazing couple. However, there's more to it. I hope you find encouragement in it. We ALL have the power to get better in the areas of money. The only thing stopping us is us. It's not easy, but it's so, so worth it. Get 1% better today! Then, get 1% better tomorrow. One day at a time. You got this!