LIVE Q&A on Money + Relationships

hello testing testing one two you does it show that we're live on kinship on YouTube hello y'all on here with us though I got a notification no no that's quite all pneumonic yeah hello with us can you go ahead and type in the chat box let us know you're here hello hey y'all we can see your comments on our phone but we can't see on the actual thing let's go back to that okay sorry y'all big bear with us we're just trying to figure out this whole uh YouTube YouTube broadcast thingy in the meantime if you all want to go ahead and let us know where you're joining us from that'd be helpful let us all know shredder has it up on her phone so we're gonna be able to see it from there let us know where you are joining from why are they joining this room let's see Hollywood Florida hello what's going on we have Vanessa from Connecticut we have bezzie from Canada what's going on Canada we have Samantha from Roanoke Virginia Roanoke in the house we have Ashley from Nashville Trinidad and Tobago what's going on Atlanta ATL hello Tanisha how are you bear with us y'all we're just there going out this whole YouTube managed thing we want to figure out how we can see your comments right on the screen so yeah how's that Redis yeah okay all right there we go so we got the chat box up now okay I seen your comments right on the screen right so we are joining you all from Pennsylvania Pottstown Pennsylvania so happy to be here with you all this evening do we have anyone else who's joining just go ahead and share where you're where you're joining us from we're gonna get started in just a minute and just allowing people to see the notification come up and and join us here so go ahead let us know where you're joining in from okay Oh Jamaica you make us in the house hello there are you sure how you doing nice to have you all here with us we've got a strong Korean presence in here right amen all right so we're gonna get started jump right into it um first of all we want to say thank you for taking time out of your evening to join us tonight um you know we've been talking a lot since our video on apologizing for like semi abandoning this channel and we're like you know we want to be more interactive with you all sometimes videos are hard to do it so things like this can help us talk to y'all and talk to us and so we really thank you for your time tonight and just touching upon the purpose of this we wanted to follow up on the recent videos that we released about money and relationships this is a topic we wanted to talk about for so long we actually shot it before we shot it so long ago and then we went back and we watched it and the that's just the yeah it was off yeah it's just uh the lighting was coming in strange so you know the Sun was setting at the same time we were filming the video so you're getting all these crazy shadows on our faces and so much things happen in the pregnancy and just we never got back to it so oh god has an ass to carry are finally doing it and we wanted to have the opportunity to go more in depth than we could have in the actual videos we're trying to keep them shorter so that's why we're here tonight yeah we do have a list of questions already some of you have emailed us some of you have commented on the actual videos and so we're gonna address those questions but if you have some more questions or if you haven't had a chance to submit questions definitely put it in the chat and we will get to it tonight we promise we're not going to keep you long here tonight before we begin so have a word of Prayer yeah heyo Heavenly Father thank you Lord for this opportunity that we have to gather here via this technology we're so grateful that you have blessed us all to to be here and I just pray for this time that we can spend together and that you have bless us and that we would all walk away with just a true message from you I pray in Jesus Christ's name Amen all right so as we're beginning I want to see sure that I can do this how many people were paying attention throughout the series that we were doing I want to know if they can tell us what the acronym what the meaning of acronym was what was the full acronym of wealth well acronym who can share that for us there might be a price for the for the person there might be there might be so who could tell us what that full acronym was for well we shared this in the first in the part one yeah right part one of common sense so let's see who is paying attention I see if we have anybody who remembers it I'll to top their head no time to go back and watch the bill isn't that what you want them to say what they was yeah anybody know that the acronym well four six six foundational principles right for finances does anybody know what those were what were those what were those and then if y'all don't get have a question right on the spot and sure I was gonna tell us okay Vanessa Vanessa got one never go for Nessa that's a good way of saying it right she got the principle oh sure we'll look that up for you Buzzbee Abed sorry Busby why dad okay so far we got WEA and now the last three LTH what was Lt yeah well they all put it together working together then we might not have be able to give give a single prize let's do something special for y'all right Vanessa is great tithe is in there but it's under another letter emergency fund there we go no debt you're getting all the principals yes so for best be let me type this in there there we go liberally give Mavis came through and then what's the laugh track your expenses club close but yeah there's the website for you what was h/h what's that age is missing yeah all right yeah liberally give live below your means I love that too hello what's going on serese hey that means michael and serese are on hey y'all yes i can read our there you go yes maybe ate what we ate one with age come on y'all help work together work together skip to the last bit of the video or maybe go to the slide where everything's listed so far away what do we have we have we are got stewards we have emergencies happen we have a void debt liberally give back every dollar and here we go hone your contentment no problem buzz be home your contentment there we go babies came through at the end thank you so much may please make sure you send us an email send us an e-mail Mavis and let us know you were the one who had provided that last one there hone your contentment all right so do you want to tell me the question what do you want to birth ball do you all have any immediate questions that you are just begging to ask right now before we go to our because we have a bank of questions that people have from comments and from emails and whatnot but do you all have any questions that you all came in here tonight already having four or our discussion here give them a moment to go ahead and yes hone your contentment there we go yay go Mavis again we're just asking for any questions that you all came in here tonight with on money and relationships we have no problem going ahead with our quote I think while they come to their loans I think while they kind of you know we'll give you all moments to think about it but sure to go ahead and read the first one that we have on there so someone says said I would like to know some effective tips on saving for marriage and the future as a young Christian I am at a stage of starting a courtship but I have so many expenses school loan car loan car insurance life insurance bills etc it just seems hard every month this is a great question so basically to summarize this person wants to know how effective tips for saving for the future the number one way to start is to have a written budget so what we want you to do is write down your monthly income right so how much do you take home from me each check and this is your take-home pay so your net pay per month and then you also want you to write out all of your expenses right so you said school loan car loan car insurance whatever it is just write them all out what is the monthly payment that you have for those bills right now once you do that I want you to calculate what's the difference right so from your take-home pay and once all your bills are covered what do you have left that amount would tell you like if you have animalic practically you're not even negative if you have an amount that tells you that's what your wiggle room is for being able to put that money to the side or you know if there's other expenses that you have to cover you want to write those down too and say like okay well when I said bills I was talking about food buy like let's just say a particular love you have one specific thing you need to buy whatever you want to write that down and deduct it and when you get the final amount that's going to tell you how much you have to work with for building a savings account and what you want to do is prioritize putting that money into a savings once all your expensive your fixed expenses are covered you want to prioritize putting that into a savings account we recommend a savings account that you can't easily go to the bank of withdraw it touch words on LY it takes a couple days for it to transfer from the account for you to have it we recommend putting your savings in that type of thank you can so that you're not easily withdrawing from it and that would be the first way we recommend for you to start we would also say if you have I was just gonna say that if you do that and you see that you might be the negative write your expenses are way too much more than what you bring home then you have to start thinking about okay what can I cut out what can I change and we would have to know the specific circumstances of your situation too you know advise you on that but that would be our recommend recommendation and then third to that obviously would be is there any way that you can increase your income to try to help with you know your expenses yeah I think that covers it really well I mean like first of all I would just say like you look at your budget right now and see look you said like where you can cut and where you can like you know honestly ask yourself like do I need this car right now do I need to have a car to get to my job or you know what are the other options around that do I need to maybe instead of having a car loan do I maybe need to you know sell this car back to the back to the dealership and then perhaps look at getting you know something a bit cheaper that I'll be able to pay cash for or like how can you how can you cut back on you know the the that the money that's leaving your your your your pocket from on a month-to-month basis I would also say like you know think creatively about the expenses that you do have like we've had moments where like you know we when we first got married y'all we spent so much money on groceries like so much money on groceries and also let it going going out to eat like we would go out to eat a lot we were just you know really I was obviously living it up you know for where we were and our financial journey but living well above where we should have been but then once we started making those cuts we started seeing the blessing and like you know preparing our own lunches and like you know cutting back on the restaurants and you know doing more cooking at home like we saw ourselves having a lot more you know Dowler's a lot more cash at the end of the month then we had before and then also I would say you know when I was when we got married I used to get my hair cut and it would cost it would cost a lot of money to get a haircut it was like 20 plus something dollars to get a haircut I was like and then what time was almost 40 I was like nah like I I can't afford this on a monthly basis so what I started to do I started to learn how to cut my own hair I'm still learning so don't judge me but I started to do I started to do this a lot more so that I could save you know money for us to be able to do other things that we wanted to do so that's what I would really encourage somebody to do and then also like if you're working hard towards a marriage like look at that second line of income like how can you and maybe your significant other take on odd jobs and other things that you can do maybe on your free time or in the evenings or what have you you know other ways for you to add income I know Amazon flex is popular for now they have what instacart now what else they have they have so many other things that people can do to earn additional income so yeah look at that look at those options yeah I would say the number one effective tip is you have to prioritize me and if you can set a goal it helps when you have a specific goal in mind like I want to see if you can even start small I want to say dollars by you know the end of the year just put aside when you have a number you can work towards it makes it feel more realistic we've learned that over the years did better when we had a specific number that we were saving toys versus we just want to say so that would be our that'd be our number one set and I think this kind of goes into another similar question so this goes into some other question how and when you guys saved up for your wedding finances and mural who are all living expenses how did you guys make it through financially even though you married at a young age and did you even say for the wedding or you had individual savings so this person wants to know what did we do to save it for a wedding and still be able to maintain our overall living expenses even though we were pretty young so we gonna we're gonna give you all the real well they're not gonna say specific details but when we were engaged we both had jobs full-time jobs salaried employees and we lived in different states so we both had like our own apartment our own you know bills to paying that sort of thing um as we mentioned then I think it was part three of the video you know one of the things we said we would change if we could definitely go back was how much we spend our wedding we didn't really like take the time to count the cost you know as the Bible tells us to do it Luke forgot what chapter it is to count the cost right we really do that so what happened was we signed up for our reception venue before we really thought about the full budget of the wedding and by the time we realized okay this is what everything is gonna cost us you're like okay we need to literally talk about our our checks our checks we have left and what are we gonna do some of the things we had to do obviously either fix expenses we couldn't change like our rent and that sort of thing but we're possible we tried to cut back on like food expenses so really slim down on groceries really got efficient with what we could do um what else do we do we you figured out like discounts and ways that we could save like at a certain point I decided to cut back on floral cause I was going to make the bouquet the bouquets for my bridesmaids myself and you know things like that so we started to put that where can be some cost yeah hello there talk to you talk to your friends talk to your family that's what I would say too as well like we had you know we thought we were gonna get we thought that we went into it expecting that you know just the blessings we're gonna flow through our parents and there are others to give you know generously to help us get there but we had our eyes our sights set very high and so but but anyways though besides that we still have people who know sat officially gave towards us so I don't want to like ignore the importance of having people around you who can like support you during this time so that that of course was also really important pillar to us and then I mean also for me like it was really trimming down my lifestyle the things that I was doing on a daily basis on a monthly basis you know I was working towards a goal so I knew that like um you know August 1st 2015 I was like everything has to be paid so I had a deadline and I had a goal and I just cut back some down my lifestyle as much as possible to to make it to make it happen what else do you think well what we would recommend is definitely send in saving towards that having like a outlying calendar you know financial plan per se like let's just say you decide we only want to spend I don't know two thousand dollars on the wedding right and it's July and you want to get married in December well then you know that you have eight four months until the wedding so then and you got and you want to spend no more than two thousand dollars so you actually sells okay how are we going to break down saving towards this what are the immediate expenses we'd have to pay for what are the ones that are going to come later on and break it down that way that's that that's what we would recommend we just jumped into signing contracts before we really thought about the full picture yeah so we would recommend definitely like you asked to say before you know going into the wedding like Brandon said talking to family seeing you know if there was any way that other people can contribute doing what's within your means right so if you really don't have it to have a 200 person wedding and you know you can really afford is maybe twenty-five to fifty people do it that way you know that that that would be our top recommendations obviously prioritizing you know your your living expenses and making sure you still have a roof on your head and make sure that you won't go into debt for it so yeah yeah like I mentioned before I just wanna you know caution people from trying to you know attain this you know glamorous hyped up picture-perfect wedding like I think that we really gotta walk it back in unit you to you in your relationship you got to have a very honest conversation you know with one another and discussing like what would be really meaningful to our relationship and to our support you know our support group around us like our family our friends our loved ones so on and so forth and you don't need to have a wedding for the world you just gotta have a wedding you know that it would be meaningful for you to and of course you know for as Christians respecting and honoring God first and foremost yeah and someone else all acts we can kind of follow up to this how do you split the wedding cost between yourselves and family what's the best way to do it so that it's fair and prevents arguments we didn't really go into it asking our parents for them to contribute a specific amount I think we approached it from the angle of what can what can you contribute and then once we had that information it's like well this is what we're looking to do based on what everybody can put together to make this happen and you know that that's how it's how it's gonna go you know if if we can only contribute X amount of dollars then as long as you understand that not everybody is gonna be righted because we can't afford that that's fine so I would say asking them you know asking family what is it that you can contribute or it might not even be financially but what can you do can you help you know run errands can you help put things together DIY whatever I would find out what exactly are people able to contribute and let that be the guidance I think that if you come in to admit expectations things can go really wrong and expectations are a lot of times set up for disappointment so it's important to ask them you know what can you bring to the table maybe it may not even be monetary resources it can see it could be you know offering to you know plan the wedding or if you have the skills and then in that area if you know somebody who has skills in that area you know offering to make you know bouquets or you know other things like that that can really you know help lower the cost for you know having a wedding today let's go to the chat room and see what questions you all have on here see we have once that student loans I don't know if you had a question about that so Vanessa that was a question you could you can follow it up alright three sacks do you feel joint accounts are effective I wonder starting all the questions so you can go okay yeah so I would say absolutely absolutely we are the biggest advocates of we are the biggest advocates of joint accounts and it has you know really been helpful for us in our marriage with you know holding from one holding one another accountable and then also for to you know recognizing and reinforcing in our minds that all that comes into this home is shared between both of us so there's no like you know I'm Mike I'm earning this money so it's only mine and you can't touch it it's none of that and it really just shows that we're all you know shred and I are operating out of the same pool so there's no like you know bickering over that at all and we still do have like our own individual personal accounts but we use those accounts to you know like we said before in the in the video we use those accounts to like save our own money that is budgeted from our family account so from our family joint account so I all the money that goes into my personal account is strictly from like we've already agreed upon like Brandon gets X amount of dollars every month to be able to spend how he chooses and so I'm able to use that money how how I do but yeah for the most part we operate strictly out of our can we out of our joint account yeah we talked about this in part three just the importance of transparency it's really easy if you have an account on the side that your spouse doesn't have access to and can't see it's really easy to do whatever you know it is that you want to do without any accountability and that can leave an open door for you know to be tempted to do something wrong or to be tempted to do something that can be harmful to your family whether it's you know signing up for a big expense that you probably can't afford or you know just using money in a very responsible way not saying it always happens but it is it is a potential temptation and so we advocate for their being complete transparency when it comes to financials and that's why we we have a joint account a joint account like you said it's okay I still have a personal account you know sometimes you might want to plan a surprise like you might want to have a nursery kissed or something but as long as you agree on the amount in the budget if you transfer that into your account then you can do with it you know as you see fit and your from your personal accounts or you can just use PayPal okay so that's what we would say joint accounts are definitely effective and the way to avoid arguments like we said in the video is to just have meetings where you can come together perfectly peacefully to hash out you know word the state of the finances and that sort of thing that's a great that's a great suggestion there outside venues are a lot more inexpensive always go also go with kiss you also go with local caterers also less expensive it's okay okay did either or both of you have to take out pay off student loans or debt in general do you have payoff advice great question um we were blessed and fortunate that we didn't have student loans so we actually started our marriage debt-free we didn't have any debt but because of that we were kind of not prioritizing saving as Brandon alluded to in the beginning of our marriage so so you know it kind of kind of went but we didn't have student loan debt or any day any consumer debt so that them really effective but affect us but in terms of paying it off we definitely recommend if you've never heard of Dave Ramsey he advocates for the snowball effect snowball method sorry snowball method of paying off your loans I also recently heard of a couple I would have to find their names I can't remember but they paid off like a crazy amount of debt in less than a year and it was primarily student loans and what they did was make a lot of sacrifice sacrificial decisions in order to do that so they've worked extra hours they worked extra jobs they made more money and all that money went straight to the loans they cut their carpooled to save gas they pack their lunches like they just really aggressively slimmed down as much as they were spending on other things as much as possible to then put all that money towards student loans and I would say be encouraged I know it can be look very daunting that there's this large amount of money interest on it and you have to pay it off but as you build the momentum through pain pain and pain and pain as much as you can as quickly as you can so if you can pay more than the minimum do that as you do that it can kind of give you that you know motivation that you need to really push through Yvonne might seem hard and know that it won't last forever the more that you aggressively work towards it I know that you know that it's God's will for you to be out of debt you know and that as you commit this to the hands of the Lord as you pray earnestly believing that there's truly nothing too hard for him that he'll enable you to meet that goal so like I said you know the practical application there you know what you can do on a month-to-month basis and then also making sure that you're staying connected with the Lord as he um you know leads you forward to that what's next well it the next question is how do you decide the percentage of your salary that goes into a joint account in our case it yeah 100% goes into it you know sometimes people can set up savings accounts where a certain percentage of your salary would go into a you know retirement account or another savings account or something like that so that's aside from aside the point but like yeah all of my head Oh our income come would come into the joint account and then from there we would decide all right what goes you know to our personal counseling so on and so forth what if your significant other has great question great question data well I think that it's important to get on the same page about how each person feels about that debt you know like you may have the perception that we should work towards paying off that debt you know and the other person may be like well no I'm uncomfortable just letting my death sit there and so it's important to have that discussion like we said in the video you know but let's say you both end up on the same page then you both when you come into that marriage you realize that this is not like your debt and I'm I have no nothing to do with it this is our debt now and we're both gonna work together to you know put our incomes you know together and be able to climb out of this debt and put it to bed yeah definitely recommend viewing it as a collective now that you are one and really working together aggressively to to make it happen let's keep going though sorry notice there everything's good in the chat box if you all can see us if you all can see us in here as let us know that everything's everything's good on here all right okay we're gonna keep going I was saying yeah you have to definitely look at it as I collected and then the more you can work together to pay it off no quicker it will it will go right financial issues are I've been my eyes like not really different like if it was a health issue you know would you allow your significant other to try to heal and recover from a health issue by themself or you know any other type of issue you would want to work together to overcome it so that would be our recommendation being on the same page and working together what about bills how do you decide something pay what what we did when we were both working outside the home because now I stay home with our son we actually lived on one income so um Brandon's income we lived on his income so obviously that paid all the bills and my income went into a separate account for savings so we didn't we didn't have to decide it was pretty much a given once we decide to live on one income and we definitely recommend that it really propels you to whatever goals you might have very quickly so if you're married and you both are working try to see if you can live on one income in and if you decide that you still need a portion of one one person's income to still maintain you know your living expenses then definitely do that but we would recommend you know when it all comes into the same pot you know it's all all the bills are being paid out of that out of that pot okay what's next how do you side who pays when you go out for meals movies etc do you use your joint accounts for this or do you use your personal account well that can vary you know in your joint account you could have a budget line item that you set aside for date nights and so you could have a certain amount that you commit each month to setting aside for your dates and so if it if going out for meals or going out to the movies or so on and so forth counts as your date night then that could definitely be you know used from your joint account however if it's something special that you set aside money for you know a specific you know way that you want to you know treat your spouse or take them out or that sort of thing and you've set aside that in your personal account then you know you can use your personal account for that right so that's how I would do it yeah yeah yeah that's in a case of marriage if you're courting um or if you're not married and you're not sharing finances then you know I would say whoever initiates the date can pay for it so there were times where I had an idea to do something and I paid for it and Brenda had an idea to do something and he paid for it okay is it wise to buy a house together before the wedding or rent until he's saving us after the wedding I just want to buy a house and I think renting may slow down the process I feel you girl we have married for going on four years and we don't own a house yet and I've definitely had that you know impatience towards the process and where we are my first answer would be about are you ready to buy a house right so you're you know preferably not in debt you don't have a lot of debt over you you have a emergency fund you know saved up and being and buying a house would be a blessing not a burden so if you're in that case before you get married and you're engaged and you know you're in the process of planning your wedding and yeah about to get married and you're figuring out where you're gonna live then by all means look into purchasing a home together because you're in the best place for it if not and you're still sorting out some financial things then I think it's totally fine to rent together you know for that first year or two until you know you're in a much better place to have how I'll buy a house and have a down payment so it all depends on are you ready to house and also are you ready to buy a house in this specific area like I think that you know you may go into it thinking that this is where you want to be but then let's say a couple months down the line a couple maybe a year or so down the line you end up changing your mind you're like actually I don't think this is the area or the you know area of the country that we want to be in and so we it might have been better for us to rent here and then perhaps look to buy you know at a later time so yeah my my inclination would be to encourage you to consider the rental route first and foremost just to make sure that you this is where you want to be and you know as you are getting settled into your you know your marriage you're able to kind of you know feel out this area for the potential of establishing yourself because buying a home and then immediately selling a home the next year it can be a lot to do that some planters wear some planters like we were brand new to the state so that's why we didn't buy a home we haven't even lived here long enough but if you know for sure that we just state you're in a state you're gonna say you have no plans my god is not showing you to move somewhere else yeah and you got the money oh the things we said then by all means consider you know responsibly purchasing at home but there's nothing wrong with renting in the short term all right next question do you would take a few more and then we'll we'll wrap it up do you believe it is wise to open a credit card account to bill credit and be prepared for emergencies especially when hoping to rent an apartment after marriage so it sounds like opening the credit you're you're asking about the thought is that opening a credit card account will help you to build credit and have something for emergencies but you know our belief is that you shouldn't use credit cards and all for emergencies you should have a cash funded savings account for emergencies you definitely don't want to put emergencies on credit and so that I was feel out that part of the question as far as opening a credit card account there's so many variant opinions out there where we stand is that we can't across-the-board recommend credit cards and the reason for that is because not everybody can handle a credit card you know honestly to be quite frank if you look at the amount of people in credit card debt it's insane so because of that we cannot make the recommendation for people to have credit cards in full transparency I still have a credit card in my name that I had before we got open I mean then I opened before we got married you do yes but I don't use it and even if I even if I were to use a brand it could see what I use it for so that's why you know I'm careful not to hammer the nail when it comes to I will hammer because I have won his experience was a little different but I have won and it was nothing but it listened to me because I would you know buy something that I already had the cash for and just pay it immediately I learned that in high finance class in high school I hated immediately and then I got cash back for it so that's why I had a credit card but I don't believe credit card should be used for emergencies if you want to prepare for emergencies put aside cash in an account as we mentioned before that is hard for you to get to that you can build interest on in the short term and that's the way we recommend to prepare for you know marriage and any emergencies as far as building credit um what know we know I mean we don't really specialize in this because we don't make the recommendation of credit cards but um it's important to pay your bill pay on time you know when I first open a credit card account to feel credit to build good credit more so like is it important to build to build credit right right yeah there are ways around that credit but you know when I when I opened a credit card it was very different than how it is now at the time there weren't that many resources out there slaying like how to really handle a credit card and now there is and they tell you exactly what it affects me at score and how so there's a lot of resources out there that if you wanted more information on that but Brendon looking at me like this because he does not he doesn't mess with credit cards stay away I hope so Samantha that doesn't know if not knowledge share more wedding tips yep I love it yes that was their name Rio and state yeah I heard them on a podcast okay I mean the budget needs to spark so yeah nice awesome though how do you say how do you set up your budget you mentioned that you said it to know what all your money is going and to make everything total to zero yes so this is nice anyway sponsor we have no affiliate I can't say we don't have any affiliation with you know but it's not it's not sponsored one of the tools that we've used for the past couple years is called every dollar it's an app it's an app on your phone you can also get it you know on unlike the regular yeah I'm sorry you can access it there it's called every dollar I'm sure that they go ahead and type it in there for you all to find the website but it's a great website to put out by the financial Christian financial guru that you mentioned earlier Dave Ramsey and it helps you to be able to put in your income put in your expenses and then ultimately assign every dollar to a place each month and that really helps us lay out you know what what your budget should look like so you can you can do it that way if you're old-fashioned and you really want to I say it's old-fashioned but if you really want to use a paper and pen you can also just you know create a template that you can use in like a notebook specific notebook each month you go to that notebook and write or Excel spreadsheet and you just write out from the very top you know what income what is it what is the big number that working with on a month-to-month basis and then underneath that you right now one of the different expenses that I do have and of course you want to take care of the basics on the very beginning you want to make sure your foods taken care of you want to make sure you have a roof over your head you want to make sure that you have lights and lectricity and you know other basic necessities just to keep yourself going and then from there you want to you know look at you know the other bills that you have whether it be insurance whether it be what other bills you have loans what else sorry I was reading about the fun look to the question because you said can you make a visual that could help me and anyone else wondering about it tell me more clearly how that goes yeah I'm in no way asking for specifics on what you spend I just mean can you give an example yes we can we can do that all right so let's just say because she wants a visual so the reason why we advocate for the every dollar is because actually when you put in your income there at the top part where it says like income and you can put in all your sources of income and how much it's going to be for the month it'll set a little banner at the top let's just say your income I'm gonna work with easy numbers as $1,000 at the top it'll tell you a thousand dollars left to budget let's say you go right under that and you put in your giving your giving for the month is going to be about two hundred dollars when you put in that two hundred it's gonna tell you eight hundred dollars left to budget then you move down to savings you know like I write I want to save you know two hundred dollars as well and then you put in that two hundred now it's gonna tell you six hundred dollars left to budget and as you go down the line if your expenses food housing you know lifestyle it has the categories in there for you which I love because it can make you think about what do I spend money on every month dad whatever as you go down and you input what those expenses are at the top it tells you how much you have left right and then when you finish it tells you if you're over budget so then you go in and you make your adjustments and if you still have more to budget for you make adjustments as well and then on top of that within each category you can track those expenses so let's just say you made a food budget of $100 and then this week you went grocery shopping and you spent eighteen dollars and 20 cents you would put that eighteen dollars and 20 cents in that food category and then it would tell you it would tell you you have eighty one dollars and eighty cents left to spend for the month on groceries [Laughter] you have left to spend that way you can get an idea of how much you're spending on different things the biggest part of budgeting is really just tracking your expenses because I think when you're first starting out if you've never done budgeting before you actually need to probably see where does my money go I don't know I never really checked my account keep track of it so when you track those expenses that lets you know okay I went over on spending fruit technically according to my income I could only spend a hundred dollars a month but I spent 150 so now I know I need a cut and it helps you adjust those decisions so I hope that's helpful if not feel free to shoot us an email and we'll try to provide like you know a PDF or something that can help yeah that's what anything came to my mind was it maybe a PDF or a resource might be helpful yeah oh you always sent in so many questions thank you we're gonna shut it yeah no no this is where she was fine question which universities okay which universities did you go to and tips do you have on getting money for school three years married when one thing is better yeah well we both went to we actually met well she yeah and then David Danny also said yes so Dave Ramsey has so yeah you can recommend which university did we go to we both went to Cornell University yes yes Cornell tips do you have on getting money versus well there is a there's a book out there by a guy that I that I knew is called million dollar scholar I think it's called look at that book but you know scholarships Scott mean like this guy he wrote you know so many applications and submitted so many resumes and qualifications to when as many scholarships as possible to pay his way through school so it really is a grind but we we do not advocate at all that you know if you can avoid debt please do avoid I mean the student loan crisis is something real out here y'all so if you can't avoid debt if you can avoid any we can save up if you can you know maybe put off going to school for a little bit just to save and work that work out for some money or if you can apply for different programs that can help reduce the cost of your schooling sometimes you even have employers that will take you on and that will pay for your schooling as you're also working for them so really evaluate all options as possible as many options as possible to you know have adequate funds to cover your schooling costs so you don't they take out that yeah I remember probably 20 scholarships and I got two so something will come you know you might have to cast the net very why those two could be effect if you grant like you know what you that you never know what they could be okay but yes I'm cast the net wide apply to anything you're eligible for it doesn't take a lot to write okay I'm saying this now it might not take a lot to write a 500-word assist they're requiring it but definitely look for scholarships look for grants look for are programs that you know are willing especially if you come from like in my case I came from a single low-income household and I had an older sibling in college so Cornell is very gracious to me when I applied with you know financially and funding and so where many other scholarship programs so yeah definitely scholarships saving working and saving and um being realistic I guess with the university choice like don't go out of state if you don't have the money to be living because they charge you more if you're out of state what's the create what's the most creative way I can get to where I want to get you know it's yeah III TC but they started out there for like two years and then transferred to Cornell so you know do do what you got to do without a crewing financial burden for future burden because you may not feel right now but you'll feel it alright we're gonna take just these questions we see here cuz I don't want to keep you all too long on here um I have my own home should I that's a good one you know I don't know that answer so you know we're gonna be honest and just you know when we don't know the answer but I do know that a really great resource like we said before this is not sponsored but Dave Ramsey has a radio show yeah Dave Ramsey specifically has a radio show you can call in and ask them questions or you can go online and read and resource that on the website but I'm sorry we're not home owner so I won't be able to answer that question yeah sure yeah my initial answer is that you sure you sure yes yes you should I'm not sure in the case of an emergency or you know other things that come up with that really help your the help of your husband to be on the deed I think it would but I think it also he just gets grandfathered in because of your husband I don't know how that works but if anybody else knows in the comments help out our sister Lillian mm-hmm you know the answer I would associates we would like to continue again I think yeah like we just said you have a lot of debt already from that associate's degree try to bring that down before you go back into school again Nursing is a wonderful path to you know make a significant amount of income so yeah we didn't recommend like working on the door if you can do it both at the same time so if you can continue but really start working to start putting a dent in you can do that as well yeah I know right do you think buying an income property you don't get to I mean it can be I mean it can be depending on the circumstances you know for somebody who has exists so for someone who has existing debt I would not encourage you to go out and try to buy an income property at this point in time I would wait until you know you're more financially stable to be able to take that leap but income properties are great I mean you know investing at home investing in homes and using them as rental properties is a really smart investment when you are in the position to take that step so but as a first home I know maybe Suri's got to talk to you a little more about this but I think that you might be if you like you're gonna live there first and then rent it out afterwards like what would be the arrangement that I'm trying to understand a little bit more about that you know I could I could duplex it's like two homes and then a triplex in connector homes three okay I'll look it up oh sorry I didn't mean to do that knowing are you currently working oh yes so Celia someone else encouraged you to keep going with your with your studies looking to tuition reimbursement yes do you have a job sometimes if you're getting a degree in the field that you're in he says yes yeah yeah look at y'all being encouraging yes that's a good point yeah credit cards are not necessary I've had I haven't had a credit card four years and I haven't had a problem renting a car doing any other normal stuff that people do so the car in my name no cuz no because we bring we bring the debit card and then with a debit card they maybe ask you for like two other you know valid documents whether it be like you know your most recent you tell you why you may go through this like she playing all right oh praise the lord god bless you too Nikki thanks for the app awesome Aisha awesome awesome great you yes every dollar and we'll also work on putting something out for you all to that kind of helps with all this that we've been sharing awesome yes rent and then live oh yes rent and live there oh I see that could be really great you know if you're in the position like I said if you're in the position financial need to do that you know if you have your debt you know your debt paid off and you know you all have your you know three to six months emergency fund then I would definitely think that looking at doing something like that could be beneficial as long as it doesn't put you in a position where you're gonna be you know financially you know hinder you know like if you take on a mortgage that is unrealistic for you to be able to pay you know off on a month a monthly basis so you know lots more that we could say about that but yeah that's what I would say is you know we got to move with wisdom and make sure that you know we wouldn't be hurting ourselves in the long run by trying to make you make a couple dollars in the short-term all right Alice 901 we've been on here for our we really thank you for joining us one last one okay okay yes do you recommend I buy a home even though I have about sixty eight thousand dollars of student loans we would recommend you paid off before moving and so we honestly like we advocate for Dave Ramsey's baby steps because we've we've used them and they've working for us that's right like for real like the position that we are in now is because of those baby steps and while obviously there are some things that you know we're still hoping for working one of them is owning the home it has been to give us how to prioritize you know our decisions and a home is a blessing but you want to make sure that like it wouldn't be a burden to you and I think that if you have existing debt it's very hard to take on a mortgage and find the blessing exist in debt so Dave Ramsey advocates for paying off your debt before you know purchasing a home but obviously if there are you know it's this specific to your situation you can feel free to email us but we are we would recommend before buying a home yes you know homeownership comes with a whole bunch of stuff that you never foresaw cut exactly all right and and for more expansive wineries lawyers can come up there like you might need a new HVAC system you might need they really want to be able to afford it and not have you get a whole house eats you know new flooring and it's just like you know you didn't foresee that sound yeah alright we thank you all so much for joining us our biggest recommendation is no matter who you are male female whatever just take care of your finances be a good steward over what God has given you if you know that there's an error like I'll admit I don't know anything about home buying or homeownership and we're homework and I have so much to learn there so if you know there's something you still need to learn whether it's budgeting or saving or paying off debt there are so many resources out there we recommend do the due diligence then learn how to do the best that you can with what God has given you especially if you're not married yet it would be such a blessing one of the reasons we love saving the crumbs as well is he tells the story of how his wife had so much money saved up before they got married and how it was a blessing so we definitely recommend just take charge of your finances and get things in order before you get married with those tips that we mentioned in the video and we thank you all so much for joining a man amen all right y'all y'all be blessed so grateful for each and every one of you thank you you know we might do this again so stay tuned we definitely were

Channel: Worth The Wait

Views: 2,032

Rating: 5 out of 5

Keywords: courtship, marriage, money, love, godly dating, relationships, finances, Christian, debt, savings, singleness, #hangoutsonair, Hangouts On Air, #hoa

Id: pSjyeC2a6wg

Length: 63min 25sec (3805 seconds)

Published: Wed Jul 17 2019