Household Budget Help
We work hard to earn a living maybe too hard haha. But even though we think we are spending wisely, there is room for tons of improvement. So, I started seeking out household budget help. My mom is a brilliant rock star at this stuff and she always tried to get me in line, but I’m NOT good at this. But I think I am finally starting to figure it all out and have been learning a bunch of household budget tips.
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The Total Money Makeover: A Proven Plan for Financial Fitness
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This book is the bible of getting out of debt. I have sooo many medical bills, I really need to get them paid off and build some good credit. I’ve had this book for several years, but I wasn’t dedicated enough at that time. I had so many things happening that I just couldn’t commit. Now, though, I have no choice but to commit.
Dave Ramsey has a free household budgeting program called EveryDollar. It’s a good tool to see at a glance what we have coming in, what’s going out (and what that money is paying for) and if there’s anything left to put into an emergency fund or savings.
Before we dive into exactly what a budget can do for us, let’s consider for a minute what will happen if we’re not tracking income and expenses. We may end up spending more than we’re making in a given month (or two, or three). Over time, that can put us in a bad spot financially.
Having a budget gives us more control over where we want to really spend our hard earned cash. Maybe that’s dinner and a movie, but maybe it isn’t. Wouldn’t it be nice to have an actual choice?
It Tracks Where Your Money Is Going
A budget simply tracks your money. You record where the money comes from each month (your income) and then write out everything you spend it on, starting with your regular monthly bills like mortgage or rent, car payments, utility bills etc. What’s left after all the bills are paid is your discretional income. Try using it in conjunction with an envelope system.
Deluxe Executive Envelope System (Dave Ramsey’s Financial Peace University)
SpendVelope Envelope Budget SystemKensington Cash System WalletRed Designer Wallet Envelope System (Dave Ramsey’s Financial Peace University)Cute Black and White Oilcloth Envelope System Wallet for Cash Budgeting and Extreme CouponingBlue Starter Envelope System – Financial Peace UniversityBella Taylor Tahiti Fuchsia Cash System WalletMen’s Bifold Envelope System Wallet For Cash Budgeting and Couponing (Black)
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Helps You Identify Things You Waste Money On
Having it all in front of you in black and white helps you identify things you’re wasting your money on.
It makes you reconsider if you really want to spend well over $200 a month on Cable TV or $150 on your large cell phone plan. Or how about that yearly magazine subscription to something you no longer read? Go through your expenses and reevaluate if this is REALLY how you want to spend your paycheck.
Allows You To Be Proactive About Savings
Saving money without a budget is hard. We go in with the best of intentions at the beginning of the month, but somehow there isn’t anything left at the end of the month.
A budget gives you a chance to be a bit more proactive. Set aside some money for savings at the beginning of the month, even if it’s just $20. Put it in the budget as a regular expense, just like you do with your other urgent bills. If you need to, open a separate savings account so you’re not tempted to spend it.
Ensures You’re Not Spending More Than You’re Making
Most importantly, your budget will keep you on track and help you make sure you’re not spending more than you’re making. And I don’t have to tell you that that’s pretty important for your financial well-being.
Girl on Fire
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Good luck with your budget savings plan! I know it’s not always easy to cut back and get that first $1000 saved up but you’ll be happy you did.
I never did have the willpower to do Dave Ramsey anything, ha ha ha I can definitely do better in the budget area that’s for sure.
I think his money advice is spot on and you’ll have much success because you’ve already put your mind to it. Writing this post alone should give you a lot of encouragement.
You can do it. I have already seen a big change in the last few weeks. Just remember, it takes time but once you get used to paying yourself as if it is a bill, you will not miss it and before long, you will have that emergency fund and much more.
I have confidence in you……………….
Your loving Rock Star! Mom