As Brad was leaving the house for work this morning, he used the B-word! How dare he!? Couldn't we just live without a Budget!? I know what word you thought he used - you dirty-language-minded reader, you!
Seriously, we've paid off a lot of debt in the past few months, thanks to closing one business and a tax filing error 2 years in a row. It feels good to be rid of a lot of debt, but the truth is I know I haven't learned any magical lessons just by paying off the credit card balances. I know I'm prone, and so is Brad, to spending right back into the same debt we've gotten out of twice now in 10 years. But this time, I want things to be different. So my assignment today, from Brad, is to come up with a budget for our personal finances. I am, after all, the manager, of our family and our business. And so far, I've done a pretty lousy job managing. I should fire me and rehire myself again. (Why do my thoughts suddenly play in Donald Trump's voice?) So that's what will keep me busy today - researching our spending, looking at references for advice, and working on a budget. Pray for wisdom as I do this! It's not necessarily fun, but it's very necessary!
Do you have a working budget? You really should, no matter how little or how much you make. A budget can make all the difference in how you spend, save and enjoy your money. There are many wonderful websites and books out there filled with free advice and wisdom, all waiting for you to take advantage of them and put them to good use.
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8 comments:
I must say I got in a lot of debt in my "younger" years that I've spent the past 2/3 years dealing with that I couldn't have done without a budget.
I can tell you to the penny what I have spent and what is in my bank account!
Whilst my outgoings have reached normalilty now I still wouldn't be without my budget planners, they keep me in check and ok I might overspend but now I know i'm doing it!!
Victoria x
Victoria - I'm so proud of you for climbing out of debt and using budget planners! As I sit here looking at our expenses, I realize just how out of control I've been. Yikes! This budgeting is going to feel like someone squeezing a belt on my ever-expanding tummy. But it's needed desperately and I know I will be at more peace when I get budgeted and live by it.
Yes, we have a budget. So much for church, so much for savings, so much for utilities, expenses, mortgage, then some play money. If I run out of "play money" before the next pay day. . . I don't buy. I have to wait until we're paid again then go back and get it. We do not owe anything on any credit cards. I pay cash or use my debit card right from checking. Works for us!!
Blessings,
Sher
Sher - having a budget, however simple is such a help isn't it? I also like the feeling of not paying for things ever again when I use cash or debit card. I say it's owning it outright instead of leasing it from the creditors.
Karla, How'd you do with working up a new budget? If only prices on *everything* were not skyrocketing right now! Just when I think we have a workable budget, gas prices leap, or grocery prices soar, or something breaks down or wears out. If only there were enough flexibility in our budget for those variations! It's very frustrating! I hope you made some headway. :)
After years of having to juggle the finances on my own (first husband was only interested in paying himself), its a pleasure to hand that responsibility over to my wonderful (second and last!) husband. It helps a lot that we're both (mostly) careful with money. That and the fact that we don't use credit cards or have an overdraft. Add the cost of living over here, and your lucky if there's any extra after the bills are paid!
I hope your budgeting goes well!
Ali x
Aisling - I did pretty well. I spent most of the day working on it, using Quicken to look at past spending and then gasping after realizing how bad it had gotten out of control. We now know what we need to bring in extra to not get back into debt again and I know areas I need to cut back on.
Ali - it definitely takes some learning and adjusting on everyone's part! It must be a welcome relief to have someone who cares about it as much as you do. I love that Brad and I are on the same page.
What a wonderful way to begin Spring...a fresh start! You are a pretty special lady you know!
I am doing this as well...we are getting older and I want us to be able to travel more over the remaining years. We want to have monies put away for that. And you are so right about the eating out too. I love it but it is expensive and not helpful with weight! We actually in more over the last 3 weeks that we had in the past 3 months. I have lost a bit of weight and our budget looked better too!
Hugs,
Sue
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