Over the (many) years of our adulthood Mr Mint and I have tried all the products the banks could offer us. As for budgeting, all we’d been doing each month is writing some numbers down AFTER we’d spent the money “Oh dear, that’s where we overspent” and we’d use
devil credit cards as our buffer/emergency fund. Oh and don’t forget the loans, student loans, car loans, borrowing against home equity, and overdrafts.
We felt pretty normal about it; isn’t this what everyone else does? We must be doing it right, because the banks keeps offering to loan money/increase our overdraft/increase or credit card limit. In the words of Homer Simpson “DOH!”. I even remember being given a credit card as a student (no job) and given a free mobile phone as a new customer; I must’ve had “GULLIBLE” tattooed on my forehead.
Luckily, a few years ago, while trying to figure out how to be mortgage free, we finally learnt to budget. Now we only have a mortgage (I still want to get rid of it ASAP) and we live on last month’s income. Here’s the “not-so-magic” formula we’re following:
- Learn how to budget with YNAB
- Follow the Dave Ramsey Baby Steps
- Find a Mortgage Adviser that believes in our financial goals
A few years ago we were fortunate enough to be able to get pregnant naturally (after giving up), so we decided to have one of us stay at home for my little mint as this was our one chance at being parents. That wouldn’t have been an option if we hadn’t sorted out our finances. My little mint arrived in 2016 without giving me a chance to leave the house, so Mr Mint had to unpack everything from the car. It also meant Mr Mint was able to watch to All Blacks game a few hours later, so he didn’t complain.
UPDATE: We’ve now been blessed a second time and due early 2019. A big (pleasant) surprise, but it does delay my return to work date.
We’re hoping to share some of the tips and tricks that gave us the chance to live (temporarily) on one income and some of the fun things we do with my little mint along the way.