Top o’ the Mornin’ to Ya!
Are you playing “Cash Go” or “Cash Flow” with your money? Without a budget, it’s easy to watch your hard-earned cash disappear without knowing where it went. But when you tell your money where to go ahead of time, you take control of your financial future.
I know budgeting can seem scary at first. When I first read “Total Money Makeover” by Dave Ramsey (affiliate: https://amzn.to/3ULx3sV) and suggested it to my wife, she cringed. But now, after nearly a decade of budgeting together, we can’t imagine life without it! It gives us so much peace and freedom.
To start, calculate your monthly income. Then, list out your expenses, starting with giving (aim for 10% to your local church and other ministries you support). Next, allocate funds for your “Four Walls” – food, utilities, shelter, and transportation. Don’t forget things like insurance, debts, and personal spending. It’s okay if you don’t get it perfect the first time. Most people take 18 months to 3 years to really dial in their budget.
A key tip is to use “sinking funds” for big, less frequent expenses. Things like 6 month car insurance, Christmas gifts, or vacation. Set aside a bit each month so you have the cash when it’s time to pay.
There are also great digital tools to help you budget. We love “You Need A Budget” (YNAB https://www.ynab.com/), which connects to your bank accounts and helps you assign every dollar a job. The spreadsheet I’m linking (https://docs.google.com/spreadsheets/d/1viEaL_HRszGhyGZGsjJTq0wtY-tGsK-W5x7mPK9iv98/edit?usp=sharing then save a copy) is another simple way to track your plan vs. actual spending weekly.
The goal is to get to a “zero-based budget,” where your income minus expenses equals zero. That means every dollar is accounted for and working hard for you! It takes communication with your spouse and some trial and error, but it’s so worth it.
Money fights are a leading cause of divorce, but a shared budget can bring unity and momentum. You’ll go from wondering where your money went to confidently spending, saving, and giving in line with your values and goals.
So give it a try! Start small, keep tweaking, and celebrate the quick wins. When you switch from “Cash Go” to “Cash Flow,” you’ll be amazed at the abundance and peace that follow!
You be blessed!
You Need A Budget:
https://www.ynab.com/
Simple Budget Spreadsheet: https://docs.google.com/spreadsheets/d/1viEaL_HRszGhyGZGsjJTq0wtY-tGsK-W5x7mPK9iv98/edit?usp=sharing
Affiliate Links:
Total Money Makeover by Dave Ramsey https://amzn.to/3ULx3sV