terisaclark

Financial wisdom from a woman of faith

Archive for the tag “Budget”

Where to start

So maybe thinking of a budget makes you feel like I just laid a loaded gun in front of you.  It makes you feel like your life is about to end.  It’s overwhelming and you don’t know where to start.  You are telling yourself

It never works

I am not a numbers person

My income is not consistent

We work hard.  We should be able to spend what we want

Whatever your reason for not doing it has been, a budget is undeniably the tool that will propel you into financial success.  So let’s talk about where you start.

Decide you want to do this.  If you’re married, commit to one another that you are in this together.  If you are single, identify an accountability partner. Consider working with a financial coach.

Document your income.  How often do you get paid?  What is your regular pay amount?  If you have irregular income, what has been the average?

Determine what it takes to maintain your home, operate your car and feed your family each month?

Divide your bank account activity for the last month into general groups (giving, utilities, eating out, groceries, kids, etc)

Document these things in a way that works for you.  A yellow pad.  A spreadsheet.  A budgeting program.  Just keep it simple for now.  This is your first budget.  You did it!

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Weight Watchers financial wisdom

Weight Watchers.  It’s great accountability….and a wonderful place to learn financial principles! This weeks financial wisdom – no ___(fill in the blank) will fill the emotions you have!

Eating and spending run parallel patterns in my life.  Times when I’ve been out of control in what I eat, my bank account has also been out of control.  Maybe you could call it “eating your emotions“.  Only my emotions are never satisfied.  It happens with money too – some call it “retail therapy“.  It doesn’t work.

That insatiable place of emotions cannot be conquered by spending more money or eating more chocolate.   It can only be filled by the Giver of Life!  He gives us the only living water that can quench our thirst.

So stop, wait and realize what the real emotion is.  Break the habit of indulging and begin to face the real matter.  And walk in financial freedom!

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