Skip to content
Hanover Mortgages

Hanover Mortgages

The Refined Mortgage Lending Company & Home Loan Lenders

Posted on April 6, 2021 by Brett Tams

My Mint Story: Managing Less Money for More Family

For the majority of our marriage, my husband and I have moved to three cities, traveled internationally, and delivered a resounding “yes!” to most social invitations. We have thoroughly enjoyed the perks of sharing a checking account, most notably the enhanced numbers every time we peeked at our balance.

Our finances were never of grave concern for us; we had the cash to pay rent every month, avoided excessive purchases, and had no plans to buy a house. Life was good, and so was the Thai take-out we enjoyed multiple times a week. And the trips to Vegas. Those were good, real good.

Then things got tricky: My husband attended business school on loans while I floated us with my single (but well-paying) income. Then I became a stay-at-home mom while my husband floated us with his single (but well-paying) income. Our truncated cash flow and the new addition to our family put our financial health at the forefront: we needed to save for our daughter’s education and manage our debt, but for real this time. In short, our financial awakening was less “ah-ha!” and more “uh-oh.”

Here are some of the lessons I learned to help get my family on track:

Those Who Don’t Earn, Save

Since I wasn’t working, I forced myself to become a much more cost-conscious consumer. I started clipping coupons, traveling a bit further for cheaper gas, cooking my own baby food and wagging my finger at pleads for expensive take-out. In other words, I turned into my mother. These small cuts were things that I didn’t have the time nor the brainpower to consider when I was working full-time because… who cares, $8 lattes it is!

Lifestyles Change and That’s Okay

Our transition from DINKS to a single-income family of three was obviously significant on an emotional level. However, it took us a little longer (probably too long) to recognize the financial implications of this major life shift. Buying a third seat on an airplane and apartment-hunting for 2-bedrooms were more sobering than pregnancy. We started having to say “no” to events that we would have been first in line for years ago. This was a tough road for me, not so much because I missed the “good” stuff, but because I was afraid it would turn me into a different person. Luckily, people aren’t defined by things, so life goes on merrily. Is it worth it? Absolutely. Does the coffee taste terrible? Absolutely.

Say Yes to Mint

Opening a Mint account is like getting a gym membership: it’s the right thing to do, but if you don’t use it, things get flabby, bloated, and, well, hard to look at. I had definitely let myself go when it came to my Mint account. Why make a deep dive into this month’s incurred finance charges when it was so much easier to just delete the email? I would ignore notifications and once “forgot” to let Mint know when I switched banks. Accepting Mint as a friend and an advisor was a crucial step in taking advantage of what the service has to offer.

I’ve always been a fan of being able to customize my expense categories in Mint, but it became an invaluable tool once we had a baby. Babies incur expenses that turn over as rapidly as their clothing size: the amount we spend on formula dwindles the more she eats real food…she’ll grow out of diapers, and school costs replace pre-existing childcare expenses. Having the ability to categorize our child’s expenses based on her phase of life keeps us on our toes – we know that “Food for Baby” costs will go up or down depending on her current demands, and that “Activities for Baby” will become more dominant as she grows older. It also helps us plan for the next phase, and have a firmer grasp on realistic expenses for a second child.

I admit I’m still learning to use it at its fullest capacity, but having Mint as a friendly presence in my life makes me feel more confident about the financial choices I make moving forward. If only it made coffee, too.

Julia Bensfield is a comedian and writer based in Washington, DC. She writes about motherhood and life on her humor blog Your Mom Dot Com.

Learn more about security

Mint Google Play Mint iOS App Store

Post navigation

Source: mint.intuit.com

CategoriesHouse Architecture TagsAll, app, baby, baby budget, baby on a budget, balance, bills, Blog, budgets, business, Buy, Buying, Checking Account, childcare, Choices, Cities, Clothing, cooking, coupons, Credit, cutting costs, Debt, education, Everyday Triumphs, expense, expensive, Family, Family Finances, Finance, finances, Financial Wize, FinancialWize, food, friendly, gas, Grow, gym, gym membership, health, house, Income, Life, Loans, Make, marriage, Mint, money, More, motherhood, Moving, My Mint Story, new, one income household, Rent, save, School, second, title, washington, will, working

Post navigation

Previous PostPrevious 10 Things That Lower Your Social Security Check
Next PostNext If You Get Social Security, Stimulus Check May Arrive Wednesday at 9 a.m.

Archives

  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • October 2020

Categories

  • Apartment Communities
  • Apartment Decorating
  • Apartment Hunting
  • Apartment Life
  • Apartment Safety
  • Auto
  • Auto Insurance
  • Auto Loans
  • Bank Accounts
  • Banking
  • Borrowing Money
  • Breaking News
  • Budgeting
  • Building Credit
  • Business
  • Car Insurance
  • Careers
  • Cash Back
  • Celebrity Homes
  • Checking Account
  • Cleaning And Maintenance
  • College
  • Commercial Real Estate
  • Credit 101
  • Credit Card Guide
  • Credit Card News
  • Credit Cards
  • Credit Repair
  • Debt
  • DIY
  • Early Career
  • Education
  • Estate Planning
  • Extra Income
  • Family Finance
  • FHA Loans
  • Financial Advisor
  • Financial Clarity
  • Financial Freedom
  • Financial Planning
  • Financing A Home
  • Find An Apartment
  • Finishing Your Degree
  • First Time Home Buyers
  • Fix And Flip
  • Flood Insurance
  • Food Budgets
  • Frugal Living
  • Growing Wealth
  • Health Insurance
  • Home
  • Home Buying
  • Home Buying Tips
  • Home Decor
  • Home Design
  • Home Improvement
  • Home Loans
  • Home Loans Guide
  • Home Ownership
  • Home Repair
  • House Architecture
  • Identity Theft
  • Insurance
  • Investing
  • Investment Properties
  • Liefstyle
  • Life Hacks
  • Life Insurance
  • Loans
  • Luxury Homes
  • Making Money
  • Managing Debts
  • Market News
  • Minimalist LIfestyle
  • Money
  • Money Basics
  • Money Etiquette
  • Money Management
  • Money Tips
  • Mortgage
  • Mortgage News
  • Mortgage Rates
  • Mortgage Refinance
  • Mortgage Tips
  • Moving Guide
  • Paying Off Debts
  • Personal Finance
  • Personal Loans
  • Pets
  • Podcasts
  • Quick Cash
  • Real Estate
  • Real Estate News
  • Refinance
  • Renting
  • Retirement
  • Roommate Tips
  • Saving And Spending
  • Saving Energy
  • Savings Account
  • Side Gigs
  • Small Business
  • Spending Money Wisely
  • Starting A Business
  • Starting A Family
  • Student Finances
  • Student Loans
  • Taxes
  • Travel
  • Uncategorized
  • Unemployment
  • Unique Homes
  • VA Loans
  • Work From Home
hanovermortgages.com
Home | Contact | Site Map
Proudly powered by WordPress