Have an accountability partner. Portia says she and her husband have always been natural savers, but it helped to tackle their larger financial goals together. “Just having someone there who understands what you’ve been going through makes a difference,†says Portia. In order for an accountability system to work, both parties need to be involved in the goal-setting process, determining together, for example, a time frame for achieving specific savings goals. The couple has monthly meetings to discuss their finances and make sure they are on track to achieve those goals.
Add fun to the mix. Though most of their disposable cash goes toward savings, Portia and Kyron say they would have blown their budgets if they didn’t have money allotted for fun, so they also have a line item in the budget for entertainment. As an alternative to an expensive night out, they may have friends over for a game night or do free activities on the beach. They also have an item in their budget for date night.