Money Obsession

I have been wondering why reducing my debt is working this time when I have tried and failed so many times before. What is different this time?

After a lot of thought, I believe that the main and most important difference this time is the commitment from both me and my boyfriend. Let's face it, if there are two people spending money from the same pot and only one is committed to a specific financial goal, it is not likely to be met. From the day we wrote $162,000 on the board, we were both committed.

Prior to our commitment to reduce our debt to zero, I managed the money and didn't let him in on it. He just thought that I had everything under control. I did not. I still manage the checking account and pay the bills but he updates the board with a lower number as we lower out debt. It is satisfying for both of us. We have a new mindset - something close to an obsession.

One final thought is that by displaying the number boldly on a board in the kitchen, we were (and are) committing our goal in writing and remain constantly reminded of our progress. I think there is something to writing it down that makes us even more committed. It serves as our "word" that we will do something, so we must.

Bottom line - commit in writing and commit together.