My New Year Goal: Taking control of my money

My New Year Goal* this year: Take control of my money

*Notice I say goal, not resolution. NOBODY keeps a resolution. Calling it a resolution sets it up for failure. This is a goal. It's something I have wanted to do for a while and January seemed like a great time to start.

First of all, know that I grew up with parents who were HORRIBLE with money. I never had a shining example to teach me. I'm clueless and learning as I go. I am also horrible at math and so far from being an accountant it's laughable. If I can do this, ANYONE can.

One year ago, I read a Dave Ramsey book and was inspired to make sure that I have control of every penny I make. At the time, I did not have a job and wasn't in the right place in life to start this. My main goal was just to pay my bills and have enough money for rent.

Now that I have a steady income, this is the perfect time to start the good ol' envelope system! It is SO simple and so far, has really shown me where my money goes and what things can be eliminated.

I've never been a good budget maker/keeper but so far, this has been successful and kind of fun!

First I printed this envelope template: http://www.todaysnest.typepad.com/todays-nest/2010/09/todays-money-budgeting-with-cash-envelopes.html

I traced the template on pretty scrapbooking paper that I had laying around and came up with these beauties! (Please ignore the shotty photograpy... not getting along too well with Mr. Droid these days.)

The second thing that I did was make a list of every single bill that I have per month. That is the amount that I put into my checking account. So the only money left in my checking account is the total amount to pay my bills, plus a $50 cushion in case I miscalculate.

Next, I made a list of money I would spend before the next paycheck that was not a bill. This list included:

Hair appointment - $28

Groceries (For me, this includes food, toiletries, basically anything I can buy at Walmart) - $100

Gas - $40

Eating out/Entertainment - $50

Oil change - $38


I have now calculated every penny that I would spend until the next paycheck. So I took my total paycheck, subtracted bills and immediately put that amount in checking. Then I had the bank give me cash for the amount that I would spend on things other than bills. After that there was around $250 left. So that went straight into savings.

When I have tell people about my new system, they always say, "I would do that, but I don't like the idea of carrying cash with me. What if I lose my wallet or it's stolen?" Well DUH, don't carry it all with you! Keep it in a safe place at home until you need it. No one will break into your house and steal it, either, as long as you find a place that makes absolutely no sense to keep money. Don't put it in your freezer, under your mattress, or anywhere that obvious.

I am two weeks into this system now, and LOVING it! It's a fun challenge to only spend the amount in the envelope. And it's painful to take money out of the wedding envelope. This makes my saving a much more tangible thing, when I can actually see the money being taken out of that envelope.

Also, keep it mind, it's a godly thing to be good with your money. Google verses dealing with money. There are tons. My next paycheck I will work tithing into the budget as well. Shame on me for letting it slip this time!

I hope by showing you just how easy this system is, you will be motivated to take charge of your money! You work hard for it, don't blow it by not having a budget, because you WILL spend more than you think on dumb stuff if you don't have a plan! You can do it!





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Thanks! You all are fabulous!

-Miss Land