About Alyssa and Trevor
Alyssa & Trevor
Alyssa & Trevor began their Project Money journey seven months ago as an engaged couple trying to get a handle on their finances. Since then, they’ve not only gotten married but have truly united in their plans to reach their financial goals.
With the help of their financial coach, Ric Mathias, they made huge progress in paying down their debt – a total of $15,777 – and also boosted their savings by $15,656 in just seven months.
“We’re in such a great financial spot now. We started our marriage off in December with a significant savings account and a lot less debt than we had both ever had previously. Money isn’t really an issue anymore.”
Moving forward, Alyssa & Trevor say they plan to continue their newfound saving and spending ways so they’re able to provide a stable future for themselves and their family down the road. “We’re so happy with the results we’ve had and although we’re a little less strict about our spending and saving now that the competition is over, we’re still keeping up with it.”
Q&A with Alyssa & Trevor:
What are the key things you learned from your experience in Project Money?
We learned that we were not the only ones in a bad money situation and that it’s possible to dig your way out, but only with help. We know that if we had continued on our own way of saving and paying off debt, we’d still be in the same boat we were in when we started Project Money. We also learned the importance of getting on the same page with our goals. We both had goals, but different plans on how to get there. After talking it through and figuring out the best way to reach those goals, we’re able to work toward them together.
What’s the best advice you’d give to someone who’s in a similar financial situation to where you were seven months ago?
Ask for help. Even though it’s embarrassing to show your financial struggles, it’s the only way to own up to it and figure out how you’ll get out of it.
What do you think were the key factors in your success?
Figuring out where our money was going was the biggest factor. Once we realized how much money we were spending on food, we were able to fix that habit by eating out much less and being smarter about grocery shopping. Also, looking at the cost of things like insurance and household bills helped us save some money. We were spending way too much on cable. Additionally, combining our car insurance to one company helped to keep our costs lower. We also had a lot of support. Everyone we knew asked how we were doing with saving more and spending less. Friends understood when we couldn’t do dinner out all the time. Having the support of friends and family helped to keep us on track and keep our heads up.
What was your “aha” moment?
The day we added up our eating out and grocery bills for three weeks and it equaled over $500 for TWO people. It made us think of all the money we wasted on food we didn’t eat or need.
How has taking control of your finances changed your life?
We have a huge sense of accomplishment for doing something we didn’t think was possible. Having the ability to look at our bank accounts and see the money we’re saving as well as having less bills to pay because we’re completely paying them off has been great!
Where do you see yourself in five years?
Happy, healthy and fiscally fit!
Using one word, describe how you feel about money/your financial situation as a result of your Project Money journey.