I hope you all enjoyed this series on financial budgeting, here is the summary of what we talked about a few more things I wanted to share. I'm also including a link to my Scribd account that has free printables for budget planning.
I shared with you all our financial story and how we learned many lessons the hard way that brought us to where we are at today. Thankfully, we were able to pick up the pieces and put them back together again and this time do it correctly. We are still working towards our financial goals but have learned enough to share with others what not to do! Thanks to Dave Ramsey, we have learned how to really have financial freedom and live like no one else.
Credit can be tempting because it gives you immediate access to what you want, even though you don't have the money for it. Using credit is actually a sign of immaturity - just like a child wanting it NOW - think about the girl in Charlie and the Chocolate Factory, sadly, that is most adults today too. They want the clothes, shoes, purse, car, house, trips and all that NOW - so they put it on credit and then spend today paying for yesterday's desires. BREAK THE CHAINS!!!! As Christians, we shouldn't be bound up by debt. Christians should be the ones that can show control (temperance) and hold off on purchasing things until we have the money to pay for it. We should be the ones living modestly within our means and showing the world that you can be content with the things God has blessed you with - not with what Wells Fargo or Discover has chained you in.
I showed you why and how to do a budget and then even shared scenarios on how a family of 4 could live on low-middle incomes. I also shared you with our family budget and how we manage living on one income while still giving to God, saving for the future and insuring our lives from financial crisis. Most of the time the reason we fall into debt is because we don't have a plan for crisis situations. You NEED an emergency fund, not a credit card. You can't afford to pay interest and you can't afford to be without an emergency fund. Why would you pay Visa $6,500 for borrowing $5,000? You could have had that $5K in savings and kept your additional $1100 in interest. You can give me $6,500 and I will give you $5,000 - sure, be that stupid - someone is making money off of your stupidity and your immaturity and lack of self-control! As Dave Ramsey has said, you have Discover-ed bondage.
Plan. Think ahead. Don't think that nothing will happen to you. Be mature - wait, have self control, be modest in your lifestyle by living within your means or even BELOW your means! If others can do it - why can't you? Do you need to re-prioritize your life? Start now!
Here are some free printables on my Scribd for budgeting:
NEW! Budget Worksheet
Monthly Budgeting Expense Worksheet
Bills Due Worksheet
Another Monthly Budget Worksheet
There may be situations where you fell into the pit of credit because you didn't have the emergency fund saved up yet. At least you are aiming for the future, so don't get discouraged! You have to climb and fight your way out but you WILL get there!