What I have learned so far:
1. Budgeting is not a quick thing. The first month we did the whole budget + allocating where the money is coming from took us 3 hours and then several "budgeting meetings" throughout the month. Last month it took about 2 hours.
What budgeting actually looks like for us:
-We have a list of things we need to make sure we budget:
birthdays, special events, things needed, household fixes
-We have a budget list for the month that we fill in all our
expenses starting first with tithing.
-We use a zero base budgeting. You need about $100 buffer in
your account, but then from there on, all the money coming in
goes somewhere while you're paying off debt.
-Then we allocate the money. We know how much needs to be
used, but how are we going to pay what needs to be payed
-We use the envelope system. I love it. I didn't think I would,
but it works. Once the money out of the envelope is empty, it's
2. Being in debt is so un-freeing
As of now we have the first baby step which is $1,000 emergency fund and we have payed off 1 credit card. The way the Dave Ramsey plan works it snowballing your debts. So the money we had been using to pay on the credit card will be going to a student loan (the smallest one)
"The rich rules over the poor, and the borrower is slave to the lender" Proverbs 22:7
3. Stop acting like a child. Just because I want something now doesn't mean I get it. I must work for it. Going to get a commercial (not your mortgage) loan is easy. Loans are big business. Working & saving takes real work on my end. Buying something with money instead of with credit means two things:
1. It's much more satisfying
2. I'm just paying for that item, not that item + interest
"No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it" Hebrews 12:11