Well, it's been 3 weeks now since we've started the Dave Ramsey's Financial Peace University course, and I finally feel like it's taking us somewhere. The first two weeks just makes you realize all the things you could and should be doing with your money, without telling you how. This week, however, we got to make our budget for the month.
Before I delve into this, I'd like to point out that I love budgets. I do them in my sleep. I balance my checkbook a few times a week...I know, I'm weird. The funny thing is that even though I'm pretty on top of knowing where our money goes, I'm never in control of where it goes. The hubs and I did a financial course when I was pregnant with Faith, called Common Sense, and it was great. I've been using the 'spending plan' sheets since then, every month. We were doing great for awhile, then somehow got off course (ok, not somehow - our student loans went back into repayment and are kicking our butts). So, we need to change something.
Here's the biggest difference I've noticed: Dave's budget requires you to spend your money on paper before the month even begins. What a novel idea! All this time, I write every single dollar spent down, added up at the end of the month and think, "What the heck?!? How did that happen?!?" But deciding where my money is going to go BEFORE it gets there allows me to see where I need to cut back, which bills I can pay in what week, etc. It was really like this light bulb came on in my head. It also allows me to look forward to things, like going out to eat, instead of being depressed that we don't have the money to go, then go anyway.
So, my entire attitude toward money changed when I wrote out that budget. Let the penny pinchin' begin!! I'm ok with it, because I am building a better future for myself and my family. We started a chore chart for the kids (yes, even though they're 2 and 3) just to give them a better understanding of helping out as a part of the family, as well as doing extra work to earn money. We gave Faith 3 chores a week and Caleb 2 (according to their age - simple things like picking up books). Each week, they can mark off what they helped with and earn $1. Once we fill our jar, we'll separate the money for giving, saving, and spending. It's something simple, but so vital to their understanding about money and working hard.
Sitting down and figuring all that out and doing the 'snowball' chart for debt made me realize that we could be debt free WAY sooner than I ever imagined!!! What a great feeling!
This week is 'Dumping Debt'.....I can't wait.....
1 comment:
That is so awesome! I think it's kind of fun to be on a budget sometimes. I really get into coupons and sales. I love seeing how much I saved :) Good for you for having those goals, and teaching your kids responsibility. I want to teach my children to earn their own money, and buy the things they want. My husband just loves spoiling our daughter, so it makes it kind of hard. She thinks money grows on trees.
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