Friday, August 8, 2014

Show me the money Part 1

So how are you doing with your challenge to do something nice for your significant other?  The last couple days have been a little harder since K is out of town, but he is coming home today and I can't wait to see him and spend time with him. He doesn't go out of town often, but when he does, I miss him like crazy.  I am very blessed that K works a job that he is home every night and weekend.  You wives out there that have husbands that have to be away for weeks and months...my heart goes out to you and my prayers are with you.  You women rock!!

So let's talk about a topic that tends to be one of the biggest conflicts in a marriage...Money.  Since K and I got married, K has handled our money. Which from what I have observed is opposite of how it usually is. I have seen that a lot of the wives take care of the checkbook and balancing, right? Since K works at a bank and has for the past 12 years, he is naturally good with money and budgeting.  I am not.  I am a spender by nature and only worried about how much spending money we had in our account. K writes everything down in a little notebook and how much goes where, but I will be honest...I would skim the numbers and check the bottom to see how much spending we had and I was good to go. I was not involved. We have had some disagreements about money mainly because K is a saver and our two different personalities would clash.


Where there is no counsel, the people will fall; 
But in the multitude of counselors there is safety. Proverbs 11:14

A few weeks ago we saw in our bulletin from church that they were offering a class on Dave Ramsey's financial peace university. K thought it would be interesting to enroll to hear biblical principles about money. I agreed. I am so glad we have started this class. We were already on a budget in a way, but this class has definitely put us on a stricter budget. One of Dave's principles that I love is that you tell your money where to go and give it an assignment (every dollar!!) instead of wondering where it went. K and I's biggest problem was that we would overspend on eating out and if there was something we wanted, we would buy it. Even though he would write all our budget down at the beginning of the month, it was kind of forgotten and we wouldn't keep track of how much spending we had left. I think a lot of problems with money conflicts is the feeling of insecurity when the money starts running out and the panic of wondering what will happen next. The priorities of money are out of whack and results in big fights and lots of bad consequences like no savings or worse, bankruptcy.

So here is a few tips we have learned from Dave that we have put to practice:

1) Do the budget together.

2) Give every dollar you make an assignment

3) Make sure to prioritize your budget (our priorities include: Tithing, Bills, Savings, Spending) and be as detailed as possible. Include gas, groceries, etc and write each debt like credit cards, student loans, etc.

4) Allow yourselves some spending money and do this with cash!! Once the cash is gone, no more spending money and it prevents you from overspending!  It works!

The plans of the diligent lead surely to plenty, 
But those of everyone who is hasty, surely to poverty. Proverbs 21: 5

My next post will be about savings (what has worked for us and some of Dave's tips) and I am currently in research mode on how to save on groceries. That was another area K and I would overspend. I do coupon a little, but I think I will have to change my methods. Until next time!


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