Money and marriage
Even when economic woes abate, money issues spark ongoing stress and arguments in families, and the topic remains a popular request for consultation. This newsletter offers a recent article on the topic, and some resources listed below for follow-up.
One suggestion to recover from debt is to list your debts from the smallest amount owed to the largest.
Add the minimum payments required each month.
Add a hundred or two hundred to this amount. (If you cannot find an extra hundred to add to this amount, recovery from debt may not be possible without help).
The money for the minimum payments plus the extra hundred or two is the amount to be used to pay down your debt. Start by paying the minimum balance on each plus the hundred or two on the smallest debt.
When the smallest debt is paid, take the minimum payment, plus the extra hundred or two, and add that to the minimum payment of the next smallest debt.
Proceed accordingly paying the same amount toward your debt each month regardless of the number of debts owed.
We hope you can find something helpful in these resources. You are always welcome to call if this is an issue weighing on you personally or in your marriage.
With effort, marriages can withstand pressures of poor economic times
Would you like to learn more about money management?
Consider these books:
The ABC's of Getting Out of Debt
by: Garott Sutton
Bonnie's Household Budget Book
by: Bonnie Runyan McCollough
Family Financial Workbook
by: Larry Burkett
Questions about spending plans?
Questions about taxes?
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