'When you do create a budget, you should make it realistic, not idealistic...Don’t just cut your grocery budget from $1,000 to $200. That’s not going to work. That’s not realistic.'
"We both had great jobs but we were just spending and we didn’t know where our money was going," she said."We were just living life without regard to our finances or our future selves."
They focused first on creating a budget that was effective but realistic, and held monthly budget meetings as a couple, which they still hold to this day. They also started by paying off their smallest debts, which Mochizuki said gave them momentum and"the grit and the strength to keep it going.", and her husband also looked for ways to make extra money, including picking up extra shifts at their jobs -- Kyle is a firefighter -- and holding garage sales to sell clothes and items from their home.
The accountability that Mochizuki and her husband provided each other is a key factor to have when paying off debt, according to Rebecca Jarvis, ABC News chief business, technology and economy correspondent.
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