Budgeting with integrity

We have now completed 8 weeks of Dave Ramsey's Financial Peace University:

I have to tell you - I know there are a lot of people who hate this program. There are some people that are Nazi's about it. However, the concepts are simple they just don't come for free. You gotta work for it. I've learned that I've gotta work hard to undo the financial mess I've made. It sometimes means making commitments that friends and family don't agree with or appreciate, or not participating in certain things. But it's YOUR financial life, not theirs. Make the sacrifice now so you can really enjoy life later. As Dave says "Live like no one else, so later you can LIVE like no one else." That's so true.

Anyway, these past few months have been a struggle financially, to say the least. It is frustrating to be equip with all this new information and tools that we're so excited about implementing, and not actually having the means to do it. But little by little, we're working our way through it. At the very least, this course has given me the insight into doing extra things to earn/save money - I would have never made all the phone calls a few weeks ago, saving me almost $475 a month!

This past week's lesson was 'Buy Only Big, Big Bargains.' It was a great lesson, but there was something that really stuck with me. He quoted a book called 'Millionaire Mind' by Thomas Stanley which was a compilation of top 50 character qualities found in Millionaires and what they have in common. The #1 character quality that EVERY self-made millionaire shared was integrity. After interviewing family, friends, and employees they discovered that they possessed incredible amounts of integrity in every aspect of their lives.

How many times do we sell our integrity for the easy road? Do we return extra cash when our change is counted wrong? Do we mention something when we're not charged for something? Do we withhold information when we're trying to sell something? No matter the facet of our life we're talking about: spiritual, financial, family, friends, etc - Integrity ALWAYS pays off in the end.

Do you have any stories about Integrity? How has it paid off for you?

Procrastination in Expensive!

Hello, I'm Vee. And I'm the queen of procrastination:

Am I the only one?

This is one of those times that procrastination has really kicked me in the butt.

The hubs and I tried to make a lot of changes last week to cut our costs after losing an income last month. It's proved to be very challenging, because we simply just aren't making enough anymore to cover our bills, let alone extra expenses. So, I sat down and finally decided to make a few phone calls I had been putting off...

Let me start by saying I hate talking on the phone. But I especially hate talking on the phone to companies. I hate the confrontation, I hate the waiting and automated garbage (90% of the time, I need to talk to a representative anyway, why put me through all that!?!?), I hate the people you can't understand on the phone cause they don't speak clear English, I hate arguing with people who are rude aren't willing to help you.....am I alone in this? Who looks forward to making these phone calls?!?

Well, these phone calls give me anxiety. I sweat, I stutter, my knee starts going like crazy, half the time I end up in tears on the other end....I avoid these phone calls like the plague.

Well, they needed to be made. We made the decision to try and call some of our student loan companies and our one credit card company to see if there were any temporary arrangements we could set up during this difficult financial period in our family. UGH. Last week, I got a hold of one student loan company and they reduced my monthly payment by $200!! And it was the easiest phone call ever, the woman was very helpful and sweet. You'd think this would make the rest of the phone calls easier, but no. So here goes....

I WISH I HAD DONE THIS SOONER.

I realize now how silly I was. I made 3 phone calls and ended saving myself HUNDREDS of dollars a month, just by asking. What I learned is that as long as you're willing to work with them, and pay something, they're usually pretty willing to work with you in return. If I made the phone call to my credit card company months ago when we started having trouble paying it....I would have saved myself hundreds of dollars. It makes me sick to my stomach.

But, you live, you learn. Then get Luvs. (Oh, wait...wrong saying)...

I'm thankful those phone calls are behind me, and praise God they've freed up some money in our budget to eat this month! HA I'm writing this in hopes to encourage you to make these phone calls as well if you've been putting them off. It never hurts to ask. The worst they could do is say no. If you put it off, be warned:

Procrastination is Expensive.

Answered prayers and a Scrapbook Event

Thank you to everyone for you kind words, and especially, your prayers.

The power of prayer is awesome. Within hours of asking for prayers, they were being answered. The hubs and I sat down and made a list of things we could do to save money and earn money. This is what we came up with:

Ways to Save Money:

1. Have the hubs stay home in the am on Tues/Thurs and work pm so we can cut out paying the sitter - The hubs is going to discuss this option as a temporary fix with his boss. This will save us apprx. $180 a month.


2. Possibly pull Faith from preschool and see if our dear friend would watch her along with our son (who she is already watching) - This is a last option, but it would save us upwards of $50-80 a month.


3. Ask the director for discount on Faith's tuition, after all....I AM the head teacher there - I will be discussing this option this week.


4. Call Student Loan providers and discuss repayment options - I did this thinking I didn't really qualify for anything, just wanted to see what the options were....turns out, they told me I could pretty much pay back whatever I want per month or not pay anything for a year!!! We dropped our $275 a month loan payment to $75 - saving us $200 a month!!! WHAT A BLESSING.

Ways to Earn Money:

1. Get another job - Last night, I applied for two jobs with Lifetime Fitness in the Child Care Center. This would be an answered prayer, because it's part time, I would never work past 9pm, the kids could come with me to work, AND I'd get a free membership....this would earn and save me tons of money!!


2. Sell some stuff - I am working on putting stuff together for a Mom2Mom sale. This week, we're going through our house and posting stuff on Craigslist to sell. And, I'm hosting a Scrap Swap on Feb. 27th (I just came up with this idea the other day....and I think it will be amazing. Even if it only makes me a few dollars, it's gonna be really fun.

(if you live in the Metro Detroit Area and are interested in this event, please let me know!!!)

God is good. Thank you for your continued prayers as we work on our financial situation.

Debt free, here I come!

Bullet point # 2: Better Budgeting

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.....

Better Budgeting

Today was the first day back I really felt reality setting in.

In light of recent events, my mind has been working overtime trying to figure out little ways to cut down on our budget even more than we already are, and thinking of ways to supplement my lost income. Then I remember this great little website someone had recommended to me years ago called Better Budgeting

This is a wonderful website full of helpful tips, ideas, articles, budget spread sheets, and more to help better budget your money!

So I guess by default, I've found my somewhat cliche New Years resolution: To be more frugal with my money. And the ultimate goal is to be debt free! Kinda bad timing as I just lost a job, but I want to commit to cutting costs where I'm able. I'm trusting God with the rest. I would also try to keep updated on my progress and leave my own tips and ideas that work for me along the way.

I am SUPER excited that the hubs and I committed to start Financial Peace University this year, and our first session is tomorrow! That IS good timing. It's a 12 week program by Dave Ramsey to learn how to get out of debt. I actually am familiar with the program already but needed the hubs to be my partner in this process so we can commit to doing it as a team! I haven't done the entire program so I'm eager to get started. I know it will be difficult but I'm ready to make a change.

Continues prayers are always solicited, as I am still struggling with this whole thing.

But I HAVE to ask.....what are some of the best ways you've found to be frugal at home?!? I'd love some ideas!