MONEY is a huge concern in our nation. Do you know that the Bible speaks of money more than 800 times? Do you know that 70% of all Americans live paycheck to paycheck? Are you tired of the get-rich schemes? Do you want to have financial freedom? If so, please take a minute to get a pad and pen so that you can take some notes. I wish the school systems had “educated” us on finances so we would have a better understanding of the word B-U-D-G-E-T and how to be successful.
B stands for Borrowing. Bad idea. Proverbs 22:7 states, “The rich rule over the poor and the borrower is slave to the lender.” Stop borrowing your way out of debt. It doesn’t work. Get rid of your credit cards. Pay everything in cash or use a debit card.
U stands for Unity. If your spouse is not on board, then this will never work. Statistics show that American couples fight most about money and 57% end up in divorce because of it. Marriages have a higher probability of success with honest communication. Pray and work together for maximum wisdom.
D stands for Discipline. Every month have a finance meeting in which all expenses are put on paper before anything is purchased. Hold yourself accountable to this written plan. If you do not set out with a firm commitment, you will probably give up within the first three weeks. Commit at least ninety days. It will help you form a positive new habit.
G stands for Giving. No matter the hardships you face, continue to tithe. God will bless you and your family.
E stands for Education. Seek experienced counsel. Read books about money. Dame Ramsey’s “The Total Money Makeover” provides a simple plan to pay off debt. It is the best $10 you will ever spend. Also, read what Scripture tells us about money. It will provide you a peace of mind when times get tough. The most powerful legacy you can leave is wise, competent children.
T stands for Time. The bigger the debt, the longer it will take to get out of debt. Remember to stick to the written plan. Work hard and remember there is freedom at the end of the tunnel. Hope cannot be taken from you; you must surrender it.
~Ryan
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| Olivia writing now – An example of our budget this month! I covered the amounts, but we write out our budget for the month on the far right hand side. The orange starred categories are our ESCROW. We also write out the specific amounts next to each category when we spend it. Ryan is making me write out the budget now and this is the hardest part for me because I forget to write it right away. If you are curious on specific amounts, just ask. I didn’t want to post our income/expenses publicly. Our “savings” category is fully funding our ROTH IRA, so that is what we put away each month for retirement. Hope this helps and gives you an idea of a budget. We are old school and like to “write” it out, but you definitely can create a spreadsheet and type it up. It would probably look a lot nicer too. I’ve tried that and I never go in and open it up to write down anything. I personally feel writing it out helps you memorize what you budget each month and there is something about pencil and paper that makes you stick to it better. I recommend writing it. Plus, you can easily compare month to month by flipping through the pages easier than you can on a computer. |
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