Budgeting- A Work in Progress
Finances are something every couple, at one point or another, has a heated discussion over. In our ten years of marriage, we have had our share. That said, I think we finally have our financials in order or at least are on the same page and it feels great!
A few things I've learned about budgeting along the way...
When setting up a budget don't forget...
1. Tithe
2 Eating out (once/wk with the family and once/wk individual)
**If you can forgo eating out, I'm oh so proud of you!
Every month, I say, "no eating out!" Every month, I think I'm the first to cave.
3. Put away money for a car
4. Extra hours or a second job maybe needed to pay off debt
Steps to take to budget...
1. Set a budget
Click over here to CNBC where I found an awesome budget calculator.
You can plug in your take home pay and it tells you how much of it goes in what category! I love it!
2. Don't overspend
3. STICK to the budget
4. Buy only basic needs
5. SAVE!!!!
To pay off debt...
1. List debt smallest to largest
2. Once the smallest debt is paid, add that amount to the next largest and continue on until you are debt free!
Side notes...
*Save 10%
*Tithe or donate 10%
*Go with low deductibles, unless you have the deductible amount in savings.
*Only keep money for bills in checking
*USE CASH!!!! Groceries, Gas, Tithe/Donation
Am I an expert on finances...nope! Am I trying my best to follow a budget and put money in savings...yep!
Jolene
A few things I've learned about budgeting along the way...
When setting up a budget don't forget...
1. Tithe
2 Eating out (once/wk with the family and once/wk individual)
**If you can forgo eating out, I'm oh so proud of you!
Every month, I say, "no eating out!" Every month, I think I'm the first to cave.
3. Put away money for a car
4. Extra hours or a second job maybe needed to pay off debt
Steps to take to budget...
1. Set a budget
Click over here to CNBC where I found an awesome budget calculator.
You can plug in your take home pay and it tells you how much of it goes in what category! I love it!
2. Don't overspend
3. STICK to the budget
4. Buy only basic needs
5. SAVE!!!!
To pay off debt...
1. List debt smallest to largest
2. Once the smallest debt is paid, add that amount to the next largest and continue on until you are debt free!
Side notes...
*Save 10%
*Tithe or donate 10%
*Go with low deductibles, unless you have the deductible amount in savings.
*Only keep money for bills in checking
*USE CASH!!!! Groceries, Gas, Tithe/Donation
Am I an expert on finances...nope! Am I trying my best to follow a budget and put money in savings...yep!
Jolene
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