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February 22, 2018

Ask Jordan (and Stephen) – Money Mindset

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Paying off debt questions

The other day when I asked if a Q&A would be something you all were interested in, I immediately received a bunch of money related questions for both me and Stephen. To be honest this wasn’t on the schedule to post for a couple of weeks but I think these questions are fantastic and should take priority so the sooner we can dive into this the better.

As I’ve mentioned, Stephen and I plan on sitting down and doing a post to share all about our “money mindset”. It will share all about our decisions with money, why we live/think the way we do about money, etc. We’re really trying to crank up the gears and get this stuff out to you all but you’ll have to bear with us! We have so much going on with the house in the next couple of weeks while we close. Like I said, we’re working on it though and we’re so excited about it.

Now, let’s talk money.

What kept you motivated when paying off your car?

It really was just the thought of having the money that we were paying out to the bank (for the car) in our own bank account instead. To some of you that probably doesn’t sound too exciting or that big of a deal but it was to us! Another way to get motivated is to do the math on how much interest is accumulating on the debt. I (Jordan) wanted to throw up when I realized how much interest we would’ve paid if we made the minimum payment for 4 years.

What was your biggest temptation to spend on and how did you overcome it?

Mine was easily stuff for our new house. I have so many ideas and am having so much fun designing our new house so I just want to buy all. the. pretty. things. Especially when I went to thrift stores or vintage markets and saw “one of a kind” pieces. I thought, “I need to get this now so that someone else doesn’t take it!!!” But then I had to bring myself back down and remember that paying off the debt was the ultimate goal and let’s face it, it wasn’t in the budget so I wasn’t going to get it at that time. Was that piece gone when I went back? Sure. Did I survive? You betcha. It’s just STUFF.

What are your best budgeting/money managing tips?

Do your research. Stephen is so great at doing research in order to find what we are looking for or a very similar option at the lowest price possible. It might take some more effort and time but when comes down to it, every penny counts.

If you just go to the first store and find something that you want, chances are you can spend time looking at other stores or search online and find a much better deal (and a lot of time a better quality item). We’ve also learned that by doing this, we found even better options or have decided to go with something completely different.

For example, we had to buy a refrigerator for the new house. We knew that the purchase was on the horizon so we started saving up so that we weren’t blindsided. Stephen searched for days and found a refrigerator at Lowe’s that had been discounted tremendously. He went to the store to check it out to try to figure out why, did more research online, etc. and still couldn’t figure it out. We suspected it might have a dent somewhere or it might’ve been on the showroom floor but we ordered it anyway and we have yet to find its flaw. Do your research, friends! It’s well worth the money saved.

How are the responsibilities divided between you and your husband?

Fortunately, Stephen and I have always been on the same page with finances. We set the goal to pay off the debt together so we both shared the responsibility equally. We share an Every Dollar account so we both are responsible for logging in any purchases we make. We discuss any “large” purchases we plan on making ahead of time. We talk about it daily (even if it’s very small).

Something that I think is really helpful is having a small amount in the budget that is just mine. I can buy what I want as long as it’s within my pre-determined limits. That way, we can still spend a very small amount on little things that we want. Lastly, we keep each other accountable in a POSITIVE way, which is so important. Money can be such a touchy subject, we’re aware. Try to give your spouse the perfect blend of grace and tough love. We’ll tell you right now, you’re going to need both.

What was the first step towards paying off the debt?

If you want to fight debt your mindset has got to change. Make this your number one goal. Taking on your debt head on has to be your priority. If that happens, the behavior will follow. Here’s the thing- someone doesn’t just think one day “I want to run a marathon” and then they just run a marathon the next day. No. They make it their goal so the mindset shifts to “I’m going to run a marathon” and before you know it, they’re consistently following a training plan or as we call it, a budget. Change your mindset, create a budget, and stick to it. You can do it!

We answered a lot of these questions in the past tense but they all still apply to our current mindset. Even though all of our debts except for the house are paid off, it doesn’t mean we can automatically go buck wild with our money. Now we have even bigger financial goals to tackle! If you have any questions let us know by emailing us at jordanjeanblog@gmail.com or messaging me (@jordyjean) on Instagram!

Photos by Luck and Love Photography


with joy
jordan jean

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    February 27th, 2018 at 9:16 am

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