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RE: Where do I start in organizing finances? - 8/6/2008 7:29:00 PM
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reach
Posts: 1339
Joined: 4/12/2005
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Mine is very simple.
Paper and pen
I wrote out every bill I get each month and the most I have paid for that bill. Then I put that as my budget for that bill. Any money left over goes toward paying off my small CC debt, mortgage or into a car or birthday account.
But you really need to do it for each pay period. At the bottom of my sheet, I write down what my new balance is on my CC, so I can track it each month.
Since I pay early, I don't have an issue of missing a payment, as each time I get paid, I am usually waiting for the company to invoice me.
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RE: Where do I start in organizing finances? - 8/20/2008 8:20:30 AM
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ColoradoLady36
Posts: 160
Joined: 8/11/2008
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This is really good info. I have nothing as far as savings, I mean zilch. But know that I need to save up for more than just a rainy day. Lord knows we need emergency savings, and I haven't been the best steward of the money he has provided me with. Though all of my bills are paid on time, groceries bought etc. I definitely need to start some sort of budgeting so that I can be a steward of my money, and put something into savings too. Granted that may not be a lot at first, but it's baby steps that I know that I have to take. NE hew, thank you for the thread. Stacey
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RE: Where do I start in organizing finances? - 8/21/2008 5:52:12 PM
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pastorhawk
Posts: 3
Joined: 8/21/2008
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I would encourage you to go to daveramsey.com and find a class beginning in your area and take the class. It is much more than just learning to budget. Spend the $95 for the kit and you will have everything you need to get started. There will also be some accountability with the class setting. You do not have to share personal info so don't worry about that.
Someone on here was sharing about using Credit cards instead of cash envelopes. Be very careful with that advice. Some can do that but 76% of those who use a credit card do not pay it off at the end of the month. So much for the reward points! Credit Cards are in the business of making money not helping you out. If you are one of the 24% then congratulations.
We have done the Dave Ramsey class twice in our church we had 20 couples/singles homes represented. Not one of them regrets taking the class. Over 50 % of them handled their money pretty well already and they still have said they are even doing better after taking the class.
We are going to start another class this Winter. I encourage everyone to take it. If nothing else just so you will know how to help others. It has also been a good outreach for our church and a ministry to our community. Right now we are trying to get the teen curriculum into the high school.
God bless
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RE: Where do I start in organizing finances? - 8/21/2008 7:18:35 PM
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ColoradoLady36
Posts: 160
Joined: 8/11/2008
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You guys rock, I need to go check out that Dave Ramsey guy. Hopefully his system isn't too expensive. Thank you. Stacey
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RE: Where do I start in organizing finances? - 8/21/2008 7:45:18 PM
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Miss Giggles
Posts: 4268
Joined: 4/18/2005
From: MI
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You don't have to pay 95.00. i never understood charging broke people that kind of money under the guise of a ministry.
Go to the library and get Financial Peace Revisited or the Total Money Makeover book. There is also a website you can join, mytotalmoneymakeover.com
He's not for everyone, he can come off as harsh and rude but his followers claim that they need that kind of tough love. For some reason he evokes a very loyal following.
I don't agree with everything in the book but its worth a read.
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RE: Where do I start in organizing finances? - 8/21/2008 11:34:34 PM
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ColoradoLady36
Posts: 160
Joined: 8/11/2008
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That's not a bad idear kiddo. I am definitely not afraid of brashness, as that's exactly how I am. So I look forward to the 'challenge' of reading what he has to say. I sound like such a meaner, huh? lol.
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RE: Where do I start in organizing finances? - 8/22/2008 12:23:07 PM
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Dancre
Posts: 1301
Joined: 4/12/2005
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I really like Microsoft Money http://www.microsoft.com/Money/default.mspx you can try if for free for 60 days, then download it for $25.00. I really like the budgeting. I can keep an eye on areas that make me stumble.
kim
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RE: Where do I start in organizing finances? - 8/22/2008 12:32:08 PM
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Dancre
Posts: 1301
Joined: 4/12/2005
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What might help you and seems to help me is I give my tithes first once I get my paycheck. then I pay myself a specific amount. this goes into the savings account. I'm going to open a money market very soon that pays around 4% interest. I'm not a risk taker, in fact, I'm a chicken when it comes to financial risk. The money market is safe and I can get to it if I must. I'm only going to put a small amount into it once a month. but it's a start. Anyway, I put a small amount into a regular savings account, then the next paycheck I put my money into the money market. I can't touch the money market, that's off limits. Saving for new countertops.
Then I pay my bills. I have Microsoft money, which I just LOVE!!, and it has a budget center on it. I can keep an eye on areas that make me stumble, like fast food. OI!! I spend more money on fast food then I do on God. Sad, huh?? Entertainment is another stumbling block. But it seems to keep me in line. The biggest thing I've learned is self-discipline. If I don't have the money, then I don't get it. Go to the store with a grocery list and decide what to make for meals beforehand. Know what you want when you go into the store. If it's not on the list, you don't get it. Don't go to the store with the kids, bad idea. Mommy, I want this and that and that and this. OI!!! Instead of going to the movies, rent the movie once it's out on video. And buy videos instead of DVDs. Rent video games instead of buying them. There's all kinds of ways to save money, you just have to hunt for them. But give yourself and your family a certain amount to spend on entertainment, Fast foods, stuff. you can't go over that amount. If you do, you're in trouble!! If you meet your goals for that month, then give yourself and your family a nice reward. Cheap, but nice. God's blessings, dear!!!!!
oh, and sometimes churches offer free financial counseling.
quote:
ORIGINAL: ColoradoLady36
This is really good info. I have nothing as far as savings, I mean zilch. But know that I need to save up for more than just a rainy day. Lord knows we need emergency savings, and I haven't been the best steward of the money he has provided me with. Though all of my bills are paid on time, groceries bought etc. I definitely need to start some sort of budgeting so that I can be a steward of my money, and put something into savings too. Granted that may not be a lot at first, but it's baby steps that I know that I have to take. NE hew, thank you for the thread. Stacey
< Message edited by Dancre -- 8/22/2008 12:44:20 PM >
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The only time I ever carried a balance was when I bought my (wrecked, to fix up) pickup on a 0% credit card. I floated the debt between 2 low or no interest cards for about 8 months until I paid it off. My husband has never carried a balance, period. 
