Jean Oathout tells us of her on-going experience with learning to follow a budget.
Recently, as of July first of this year, I finally decided to create a budget that keeps me within the amounts of money coming in!
It has taken me years of trying to live on my income, and always having to "sweat" getting to the end.
I always hoped there'd be enough in the bank account in case a check is cashed that I'd neglected to record in my checkbook.
This month, I went at it differently.
I figured out what I'd need in cash, and wrote a check for that amount to use for the first half of the month, 'till another check would be deposited halfway in the month.
I divided the money among certain envelopes.
As I needed the money, I took it out of the appropriate envelope.
This way, as I remembered what my limit was on each item in the budget, I could decide what the money would be spent on.
This way, as I remembered what my limit was on each item in the budget, I could decide what the money would be spent on.
This has become so freeing! I now control my money; it doesn't control me!
I have some freedom, knowing the different budgeted amounts I can draw from are at hand, and that I may spend it, recording it as a deduction from that scheduled amount in the budget.
I have some freedom, knowing the different budgeted amounts I can draw from are at hand, and that I may spend it, recording it as a deduction from that scheduled amount in the budget.
I created a ledger sheet to meet my budget needs, where I can keep track of what is spent daily.
I divided the budget into the following categories:
Food, car-gas, car-expense, miscellaneous, business, chiropractor, doctor, hospital, meds, vitamins, rent/cell, gifts, house, tithe, special, missions, and savings.
The amounts are recorded in columns, and are totaled for the first half of the month by the 14th, when my next check arrives on the 15th.
I divided the budget into the following categories:
Food, car-gas, car-expense, miscellaneous, business, chiropractor, doctor, hospital, meds, vitamins, rent/cell, gifts, house, tithe, special, missions, and savings.
The amounts are recorded in columns, and are totaled for the first half of the month by the 14th, when my next check arrives on the 15th.
Budget/spent 7th 14th total spent amount- last half 21st 30/31st
I added up the planned amounts to be spent in checks and automatic withdrawals, and added the cash needed to meet the specific needs. This way, I try to keep tract of the amount to be spent with the first check.
It does take effort, but it's necessary to maintain a true balance.
I added up the planned amounts to be spent in checks and automatic withdrawals, and added the cash needed to meet the specific needs. This way, I try to keep tract of the amount to be spent with the first check.
It does take effort, but it's necessary to maintain a true balance.
I then figure out what part of the second check is to be handled as cash, and write a check for that amount, to be divided into envelopes.
The next two week's expenditures are then totaled and subtracted at the end of the month.
The next two week's expenditures are then totaled and subtracted at the end of the month.
When the totals are compared with the budgeted amounts, I'll see how I did, and if there's any excess.
I'm determined to save a definite amount from each check by having an amount deposited automatically into my savings, which hasn't seen any growth for years.
I'm determined to save a definite amount from each check by having an amount deposited automatically into my savings, which hasn't seen any growth for years.
I'd been dipping into it each month for what I felt I "needed" to complete the month.
Now I can see that because I'm in control of my money, there's a better chance that I'll not only complete the month with excess, but be able to save for that unexpected "rainy day", like going to visit a son.
I've been able to save a total $100 this month! That's amazing!
I've been able to save a total $100 this month! That's amazing!
[Google images added]
Let’s pray: Father, this is going to be a challenge for me! I've never kept within a budget, so will have a lot to learn. As I attempt to create one, and then to follow it, I'll sure need Your help! As I've asked for advice, may I find what will eventually work for me. In Jesus' Name, amen.
Today’s Bible verse: 2 Chron. 15:7 "Be strong therefore, and let not your hands be weak: for your work shall be rewarded."
Today’s quotes: Michael Brooks - "Need some peace in your life? Need a break from the pressure? These days it seems that problems capitalization - Revenue is going down, the bills are increasing, children are disobedient, and financing plans we build our lives on going up in smoke. All this goes to prove one thing: It was never the "real security" from the beginning. Everything I've had is in Jesus."
Debbie Hardy – “There are two ways we can have more money: earn more or spend less. The first requires more work; the second takes wisdom and self-control. Increase your net worth just by spending less of each paycheck. You’ll feel and be richer in the end.”
Anna Gregory "In giving God first place in our finances, we place our true treasure first. Give Him His rightful spot."
Our thought today: Your paycheck is designed for blessing other people, along with your own needs. By taking control of your expenditures, you can determine who gets what, and how much. Your staying within your designed budget keeps you within your pre-set limits, which is designed to bless you, and make you free to bless others.
[Google images added]
Let’s pray: Father, this is going to be a challenge for me! I've never kept within a budget, so will have a lot to learn. As I attempt to create one, and then to follow it, I'll sure need Your help! As I've asked for advice, may I find what will eventually work for me. In Jesus' Name, amen.
Today’s Bible verse: 2 Chron. 15:7 "Be strong therefore, and let not your hands be weak: for your work shall be rewarded."
Today’s quotes: Michael Brooks - "Need some peace in your life? Need a break from the pressure? These days it seems that problems capitalization - Revenue is going down, the bills are increasing, children are disobedient, and financing plans we build our lives on going up in smoke. All this goes to prove one thing: It was never the "real security" from the beginning. Everything I've had is in Jesus."
Debbie Hardy – “There are two ways we can have more money: earn more or spend less. The first requires more work; the second takes wisdom and self-control. Increase your net worth just by spending less of each paycheck. You’ll feel and be richer in the end.”
Anna Gregory "In giving God first place in our finances, we place our true treasure first. Give Him His rightful spot."
Our thought today: Your paycheck is designed for blessing other people, along with your own needs. By taking control of your expenditures, you can determine who gets what, and how much. Your staying within your designed budget keeps you within your pre-set limits, which is designed to bless you, and make you free to bless others.
Tomorrow’s post: The Gates of God Mary Southerland
A popular post: Choices How will we react to what happens?
Samples of Jean's crafts & craft order blank
http://facebook.com/jean.oathout
http://www.amazon.com/dp/1938499999/ Link to Granny’s Guide to Marriage in
Verse my book with new title and cover for women contemplating
marriage.
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