Thursday, January 24, 2013

How To Make Dave Ramsey Proud

I did something this week that I am not too sure I am going to like.
Actually, I don't really like it already.
I put myself on a budget.



While it's not an absolute necessity right now for me to have a strict budget and a Dave Ramsey inspired envelope system, I decided I needed to self-discipline and start applying financial principles now. They will shape how I handle money in the future. While I can pull money from my savings, if I declare an emergency shopping trip, that probably won't be the case for many more years. I want to stick to a budget, and when that amount for that account is gone for the month...it's gone. No pulling from my back-up plan.

So far I have 6 catagories:
  • Adventure Fund
 This is for my bucket list items for this coming year, instead of pulling money from my savings account, I have tucked it away slowly.  Extra money from my birthday & Christmas went into here too. Being adventurous is expensive!
  • Gas Money
I sold my lovely 1992 Buick LeSabre for a 2001 Chevy Trailblazer this past spring...and while I love having an SUV, I kinda miss my 25mpg...especially when compared to my 15mpg now. I really don't like thinking about it. But hey, at least I have no car payment...bonus!
  • Piano Lessons
A seemingly funny thing to budget for, but it's a regular expense I have, so it got an envelope.
  • Savings Account
1/2 of every paycheck calls this account home. But sometimes I do pull out of it in cases of emergency. 
  • Checking/Debit
Currently keeping only about $100 here, in case of emergency, making online purchases, or writing checks on the rarest of occasions. 
  • Everything else
Somehow this category only has $67 for the next two weeks.Considering I have no major expenses coming out of this account within that time frame, I should survive. But for a girl who has gotten use to spending money on whatever without thinking about it, that doesn't seem like much. 
  •   Tithe
 "Honor the Lord with your wealth and with the firstfruits of all your produce. "-Proverbs 3:9 
At least 10% of my each paycheck is given back to God because of what He has blessed me with.
 
My usual system was to take out tithe, put 1/2 my paycheck into savings and the other part into checking/debit. Savings I didn't touch and debit was a free for all to spend on anything & everything...but I also used to pay vehicle insurance and gas from that money.

 I rarely had cash and used my debit card everywhere...and then I realized how much easier it is to spend money when you don't see it [no wonder people have credit card debt]. And after 4 months of balancing my checkbook with my dad by my side, and it never once just coming out balanced [due to me never rechecking my math after I log in a purchase] I decided to go back to using cash as much as possible. This should help alleviate my mile long bank statements and over spending and a mistake ridden check book.

I feel like a big kid now & I think Dave Ramsey would be proud...well, maybe.

3 comments:

  1. I know how ya feel! I hate my new budget, but im sure its for the best :)

    ReplyDelete
  2. Good for you, girl!! You will be so many steps ahead of the game in a few years. :) And it will make all those fun purchases worth it.

    ReplyDelete
  3. You go girl! I've heard of Dave Ramsey and think he is so wise! Thanks for sharing this :)

    And LOVE your blog design.

    Hope and pray you are doing well friend :)

    ReplyDelete

I <3 comments.