iThe best budgets are Not the ones constructed and kept in your h
ead; but the best budgets are the ones written out.
Around this time last year, my church announced offering Dave Ramsey’s Financial Peace University (FPU) classes, and I knew this was God’s confirmation. It was time to put action with the plan to begin my debt freedom journey. FPU was by far one of the greatest investments into myself. Yes. There will be times when you should invest wisely into Y-O-U!
Somewhere between your next cyber purchase or in-store layaway deposit, in the back of your head, you’re thinking of the mounting bills. Tell me, “Where’s the Comfort and Joy in that thought?” Do understand, it’s okay to buy gifts, but take the time to also think about their significance and how much is enough. Do you really need to get one more toy, TV, or ___________________(insert any item here)?
Since I want you to #WIN as we move into 2016, I’ve provided you an idea of a budget. Of course, you’ll want to doctor it up, but I want you to Start winning NOW! Let me know in the comments what you think.
Though this is a “sample” budget and the figures are not factual, I want to express to you a few things:
- February 2016 will mark my 1 year anniversary of NOT having a cable subscription. I asked myself, “Self? Do you really need that monthly cable subscription?” Clearly, you see how “Self” answered.
- It takes time to get your budget down. You’ll find the need to adjust and then readjust some more. Some months you get it right; some months not so much. However, Don’t Get Discouraged! Keep going.
- Don’t deprive yourself, but Do work on becoming disciplined. For me, BLOW money is a combo of last minute ‘mommy I forgots’ (i.e. I need money for…), as well as those moments when I deserve something pretty (just don’t go overboard).
| Payment Amount | Category/Debt | Remaining Balance |
| $1,400 (bi-weekly) | ||
| $120 | Tithes (Always my first) | $1280 |
| 100 | Grocery (I write out a 2 week menu that includes leftovers) | 1180 |
| 50 | Gas (I try not to joy ride) | 1130 |
| 400 | Mortgage/Rent | 730 |
| 100 | Electric* (I’m like that dad on the TV show “Everybody Hates Chris”. I can feel the kilowatts going up when lights are left on in empty rooms! | 630 |
| 50 | Water* | 580 |
| 65 | Day/ After school care | 515 |
| 150 | Auto | 365 |
| 50 | Cell phone* | 315 |
| 50 | Internet* | 265 |
| 50 | Life insurance* (have additional life insurance outside your job) | 215 |
| 8 | Monthly subscription* (i.e. Hulu, Netflix) | 207 |
| 50 | Savings 1 | 157 |
| 60 | Extracurricular activity* | 97 |
| 50 | Clothing* | 47 |
| 40 | Blow (for those wonderful last minute “mommy I need” moments”) | 7 |
*Monthly payments not broken down into bi-weekly payments
Restyled Moms, Don’t let your 2015 debts become your 2016 regrets. Give your plans to God and watch him shape them for your BEST. Here’s to your Prosperous 2016…
Sincerely,
Your Restyled Mom…who is living on a #budget and looking forward to a #debtfree future
