Money Management is no fun. I would love to go out and buy the things that I want but I know that right now I need to pay off my debt that I owe. I do keep a list of things that I want and one day I may go back and decide that I will get this or that. But right now they are a want no a need. Are you more like an ant and work hard to keep stores for later or do you spend everything fast?
Go to the ant, you sluggard;
consider its ways and be wise!
7 It has no commander,
no overseer or ruler,
8 yet it stores its provisions in summer
and gathers its food at harvest.
9 How long will you lie there, you sluggard?
When will you get up from your sleep?
10 A little sleep, a little slumber,
a little folding of the hands to rest--
11 and poverty will come on you like a thief
and scarcity like an armed man.
Be willing to sell things that you do not need if you need to pay off debt. I am not saying that it will be easy. Perhaps going from 2 cars to 1. Getting places will have to be worked out but it can be done. Not that you completely stop sopping but think before you buy. You buy the necessities not the wants. As, I am trying to get out of debt, I have had to learn to say no. It is hard but it gets easier as you realize that you need to put yourself first. You have to take care of yourself and what is important to you. What is important to you?
Spend time focusing more on you and what needs you have.
Exercise and have fun outside with friends for free.
Go to the library and get books t to stimulate your mind.
Pray and meditate on scripture during your quiet time
In other words, you need to find ways that can make you happy without making your checkbook unhappy. While doing this take time to write your financial goals down. Do you want to pay off school loans or credit card debt? Be specific and order the list in the order that you are going to snow ball it during the upcoming months. My plan is going to be lowest to highest loans. Now, some will say highest percent first but I know myself and if I do not see progress, I am more likely to throw my hands up and say forget it
I gave the budget form last week. I hope that it helped and if not, perhaps you need a more focused budget. One of my friends uses excel because of the automatic sum it can generate. It has been helping me. I have a few steps that I am about to start taking and I would love for you to join in.
1. Have $1000 in your savings for emergencies
2. Pay off all my credit card debt
3. Pay off vehicle loan
4. Pay off any other small loans (save house for later)
4. Pay of school loans
5. Complete emergency fund by saving 3-6 months expenses
6. Check retirement and see if it needs extra cushion (I have looked at mine and want to give it 10% more when I am able)
7. Pay off the house
8. Build wealth and give to those that need it.
It will take time and others may think me odd but I want to be as financially stable as possible. Do you have any ideas to help me or others with this?