One Step At A Time

Last Sunday was our 3rd class in Financial Peace University, and we talked about the the dreaded B-word, Budget. Since I read Total Money Makeover months ago, we have been doing the budget and have posted several times about it. Therefore, I am not going to go over every detail of this past Sunday's class, but will discuss some of the issues I have with budgeting so far. I believe if I keep honestly critiquing us and our money management, it will help us in the long run to win with money. Having a lot of money is not the desired result of this process, the results we are looking for are Financial Peace, retire with dignity, and pursue some of our dreams later in life. Below are just some of the things and habits that gets in our way of achieving our goals. One of the things that I do that absolutely does not work is create the budget and never look at it again. I work hard to make a zero based budget and making sure every dollar has a name, but never pull out the game plan to m...

So far it has been a horrible start to the New Year as far as budgeting goes. I am not trying to make excuses, but we need to find out why we are doing so bad. I think I know...we are getting anxious about the birth of our daughter. Felicia has been feeling bad the last couple of weeks and this week she has been having irregular contractions. We keeping coming up with excuses not to cook or to buy something we really don't need. Deep down we know we are just trying relieve stress or make ourselves feel better at that moment. Now is the time to stop and tighten the ropes a little bit. Felicia has stopped working two weeks before we planned, but the good news is that we did so good in savings that we have enough in an emergency fund to survive. Thanks for the advice on that one, Dave Ramsey! We stockpiled some cash and now we need to be careful in how we spend it. It would be a shame to do so well and then manage those funds poorly. Even though we have done poorly this mont...

For a long time, we have been hunters and gatherers. We lived in the moment and when we were hungry, we went out and fed ourselves no matter the cost. We would spend an outrageous amount of money at restaurants, or going to the movies. There we plenty of times when we did not bat an eye at a dinner bill that was around $60. As we are getting older our mentality has changed a little, we are trying to become farmers . We are looking ahead and planning for the future. We have taken the seeds of our goals and planted them, now we have to continue to water it, and make sure to give it plenty of sunlight. We will get there, like farming it takes time and patience. Felicia is turning out to be a great farmer!!!! I am so glad I am working on this with Felicia. She is really trying hard to stick to it, there are times when I am like let's buy something to eat and she reminds me that we cannot do that. She was telling the truth when she said that now the question for dinner is, wha...

She is right!!! I am not sure what it is, but when I get really stressed out the first thing I want to do is hide and not deal with anything. When we were engaged and moved in together, we put our finances together and tried to run our household. I know when I was young my mom handled the money and I saw how it would stress her out a lot, so I guess I thought I would let Felicia deal with it. We split it up 50/50, her job was to pay the bills and my job was to complain about having no money. Now, that is not working together. Since I did not where the money was going, I wanted to spend like we had all the money in the world. In the end, I realized it was not fair to Felicia. She had to keep track of all the bills, pay them on time, and when money was thin, deal with me complaining. Now we sit down before each pay day and spend the money before it is in the bank. We look at what bills are coming up, what we are going to spend on household things, but the very first thing we do ...

We have been on somewhat of a budget lately, thanks to Andres' fascination with Dave Ramsey, a financial guru that he listens to on the radio. Even though I am slightly sick of hearing Dave Ramsey's name, I have to say that his principles are working for us. We have put close to $2500 away in savings for when I am out on FMLA and I have to admit that it feels good to not even miss the money that we are putting away every time we get paid. We always make sure to pay ourselves first and then focus on the important bills, and then we pay the not so important bills (cable and DSL). We've also been eating at home a lot more often lately, and I was telling Andres that my mindset has changed from a couple of months ago. Whenever we were ready to eat dinner, I would always think, what are we going to go out and buy for dinner? Now I think, what are we going to go home and cook for dinner? We still splurge a little bit whenever we have a little bit of extra money, but it hasn't ...