There is no doubt about it; 2020 and halfway into 2021 have been rough on all of us. We are all still grappling with the aftereffects of 2020 and the Corona Virus. It has been a tumultuous time for everyone. We need to focus here seriously; we need to realize that creating a budget is more critical than ever. Inflation is insane, grocery prices are outrageous, gas is triple the cost it was a year ago, and kids are getting ready to go back to school. Everyone is stretching their dollars to the limit.
Let’s do it … it’s budget time. I know budgets are intimidating. If you are like me, I always felt like having a budget was like being on timeout with everything fun I wanted to do. But that is the exact opposite. A budget can provide you more freedom, joy, and transparency than you have ever felt before. A budget can strengthen your relationships and give you a sense of clarity about where & what your money is doing. “I need to know what my money is doing?” YES! You deserve and should demand to know what your money is doing at all times. I have found that when I know what my money is doing, I can eat better, sleep better, and be better. It is that serious; money has been said to be one of the main causations of divorce. According to Ramsey (2018), “The number one issue couples fight about is also a topic many couples avoid discussing — money.” The question is, why would married couples allow money to be the cause of their ultimate marital demise? Simple, people want to buy what they want, and when they can’t, they have a full-on adult temper tantrum.
We are better than this; we can master the management of our money. If you can do that, you can master anything. How do you start to create a budget? Simple, you need to know where your money is going and how much you have to spend. Once you gather this information, create a short and long-term financial goal plan. How do you plan on paying off your debt? How do you plan on making a savings plan? Or an emergency plan? Get specific. Once you have all this down on paper, have a conversation with your spouse or family/friends. You may ruffle a few feathers; people don’t like talking about finances. I don’t know why? Everyone has them … get a financial plan and make sure to discuss your financial plan with those you love and live with. I have included some tools for your financial success.
Federal Trade Commission. (n.d.). Make a Budget Worksheet. Retrieved from https://www.consumer.ftc.gov/articles/pdf-1020-make-budget-worksheet.pdf
Financial Wellness Program. (n.d.). Five Steps to Creating a Budget. Retrieved from https://www.umcu.org/umcu/media/Documents/FiveStepstoCreatingaBudget_January2019.pdf
Ramsey, D. (n.d.). Ramsey Budget Useful Forms. Retrieved from https://www.ramseysolutions.com/budgeting/useful-forms
Ramsey, D. (n.d.). Money Ruining Marriages in America: A Ramsey Solutions study. Retrieved from https://www.ramseysolutions.com/company/newsroom/releases/money-ruining-marriages-in-america
The government shutdown is finally over, for now. The Senate and the House of Representatives only delayed the debit instead of implementing a debit increase. This simple means that the United States still has to pay its bills. If the bills are not paid, there will be another government shutdown in December. Just in time for the holiday season. I’m sure Jesus never wanted to celebrate his birthday by putting millions of people in a state of anxiety, depression and upset. The fact of the matter is there are government legislation bills that must be implemented now in order to prevent another government shutdown happening.
Thinking about this gives people some real perspective on how to make small changes for the better in the financial stability of their own household. If we take this as a learning opportunity, then everyone must take a hard look at his or her financial backbone. How are you spending your money? Are you spending in more places where you should be instead saving it? Have you used your credit card like an imaginary money dispenser? Do you know what the APR is on each credit card(s)?
Here is your challenge: Take some time out and do a budget for yourself or for your family. Write down the monthly expenses and payments you make on your loan(s)/credit card(s). You will be surprised at what you don’t know about your finances. Be empowered, and learn from the federal government shutdown. You have the power to change your life for the better.
For more information on creating a budget go to: Creating a Budget