Just Checking In

So I have given you a lot of advice in my last few posts.  I am just wondering if any one has started using them or has any success to share. Have you tried a budget yet?  How does your family feel about cutting back?  What have you decided to save for?  I would like to hear your thoughts on things.  Do you think these are good or bad ideas?

These are things that have helped me.  I kept looking for help myself but all the articles seemed to be geared toward people with a lot more money so I decided I would share what I have learned and used as a person that has very little wiggle room for saving and spending.  I only work part time and have a daughter to support so a big budget is not something I am accustomed to.  I wanted to help other people so I hope I am getting out to at least even one person to make a difference.

Lets Do A Recap

   Ok so now that I am back online we are going to recap my original posts to make sure we are either still on track or get back on track.  No matter where you are the important thing is that you keep working. I have had times where I have either pulled from my savings or just stopped doing what I needed to do to keep it going.  What matters is that you get back to what you were doing.  The important thing is to get out of debt and be free of the trouble it brings.

  So first you have to have a goal.  A real reason that this is so important to you.  Whether it be to buy something, have a big nest egg, or you are just tired of struggling.  You have to have a real reason or it will not be as important to you and you will not try as hard.  Everyone needs to be on board with this if you have others in your household.  If you are single then you are going to have to work hard to keep yourself committed to the final goal.  This is not going to be easy but when you are able to achieve your goal because you worked so hard it will be totally worth it.

   Now that you have decided why, you have to do.  Set up a plan.  Pick a credit card you want to tackle first or maybe it is your car loan that you want to eliminate.  What ever it is that is going to be your main priority until it is paid.  Even if in the beginning you only round the payment up to the next dollar.  Say your payment is $50.51 then you pay $52.00.  Even if you did only that for a year you would pay an extra $5.88. This is $5.88 less you will be charged interest on.  If you get a raise then you need to decide what extra you can put toward that bill.  You will do all that you can to pay off that extra bill.

    Next this part is something you will have to decide on your own.  Some people swear by it, I myself have never been able to follow one.  I am talking about a budget.  Some people really like them and use them religiously.  It is a blue print of how you will spend your money each month.  It only works if you actually do it every month and stick to it.  That is my down fall,  I really have a hard time redoing every month.  If you are the type of person who needs structure this may be the right choice for you.  If you think you can handle it month after month and stick with your plan then you may not need one.  This part is totally a personal choice.  You can always try it and if it is not for you then do it your way.  As I have said before the most important thing is that you do it.

That is all for the recap.  I hope you will come back so that we can finally do our next piece,  Ditch The Debit Card.  I will be talking about why I have learned it is better to go all cash while trying to eliminate debt. I hope to see you back soon.  As Always feel free to share your thoughts and ideas.  We are all in this together.

Saving Money and Getting Out of Debt: To Budget or Not To Budget

I would first like to thank all of you for reading this blog.  I am very excited to announce that I have 1000 views as of today. I hope that I am helping people.  I set out to just start  blog and see where it went.  It has become more than that, it is now a place where I am determined to have an impact on peoples life.  Thank you for reading and being with me.

So we are on the journey to financial freedom.  A lot of people feel that having a budget is he holy grail of saving.  They claim it will keep you on track each month, that it will hold you accountable for your spending.  This does work for some people. 

Me personally, I do not use one.  I always forget to update them and then they make no sense.  Also for me it is just a reminder of how broke I am all the time.  I just do not find them helpful.  I am not saying do not use one, I am just saying I do not like using them.  This is something you will have to decide on your own if it is gong to be helpful or not.

If you decide to use one, make sure it will work for you.  If you are not a complex number person then do not choose a complex way to budget.  Go with the basics.  There are free budget forms on the internet that make it easy to do.  Make sure you are honest with the numbers.  You will not fix the problem if you are not willing to be honest about it.  Make sure you have all the numbers and categories you need.  Then simply add up your bills and essentials then subtract them from your income.  This will be the extra money you will have to work with. 

At this point hopefully you have a positive number.  What ever it is this will be the money you will use to Save and get out of debt.  Even if it is only $1 I can help you work with this. It will be weird at first but you can do it.  I am in this with you I am doing it right now so I know what I am talking about.  I only work part time but I have paid off a credit cards and my car.  This is with just y pay  check and every now and then I get child support but not every month.  I also have an IRA and two college funds going for m daughter.  If I can do it so can you.  Please feel free to ask questions I am here to help.