Tis the Season…to Not Go Broke! A Mind Blowing Budget (part 2)

iThe best budgets are Not the ones constructed and kept in your hbudget p2ead; 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:

  1. 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.
  2. 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.
  3. 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

 

Tis the Season…To Not Go Broke! A Mind Blowing Budget (part 1)

Budgets start in your head, but they shouldn’t stay there.restyledmom.com (2)_edited

As we cruise into Christmas (15 days from today’s date), have you stopped to check your bank account or that credit card balance?  How many times have you looked at the ending balance of your bank account and wondered “where did all of the money go?”, or thought “there just isn’t enough to take care of the things needed, let alone try to get the things wanted’?

I’ve been there, on both ends of the spectrum.  I’ve looked at my bills and my bank account, and thought to myself “my account must have been hacked” –knowing all the while I was the hacker.   I have sat many nights allowing my story to be one of a broke and broken single mom.  I fed into my spirit that only one income would never get me to where I wanted to be; and I would forever have to ‘rob Peter to pay Paul’.  I was praying, but I was not truly giving it to God; I was just talking to Him –going through the motions, but not exercising my faith.

This holiday season, I want the first part of your ‘Budget Build’ to start with feeding your soul positive input.  Sometimes, the preparation for the journey simply begins with mentally preparing for this budgeting lifestyle or possibly repairing how you once looked at things.  For myself, I now speak and plan in faith.  I have a vision for my future and I pray it is aligned with the vision God has for me.

In Part 2, I’ll share with you a sample budget with a break down of a few categories.  Hint, cable is no longer included.

Sincerely,

Your Restyled Mom…who is no longer living to pay debts but now living with plans to prosper.