I would like to start with a story….I grew up in a low income neighborhood and didn’t have the best life. A long time ago I made the decision my kids’ lives would under no circumstances be like mine. So, I went back to school as an adult and earned my Bachelor Degree; I worked multiple jobs to make sure my kids had a good life.
Doing great, right? I am very proud of my accomplishments-moved out of the slums; put my kids in a good school district, my husband and I have decent paying jobs-doing great!
Wrong! While we greatly improved our lives it didn’t come without debt. We were never taught to budget our money. We just made it, paid the bills and spent the rest. Like many people, we have credit card debts, loans, mortgages, etc.
We are able to keep up with the debt and still have money left over unless something major happens.
Well, guess what? Something major happened. Recently my husband was injured and is off work for 12 weeks and I am facing a surgery in a few weeks that is going to put me off work. Boy, has reality ever set in with me! The realization of not creating and sticking to a budget and carrying too much debt has really hit home.
Creating A Budget
I don’t need to give you all the reasons why we need budgets. We are all adults and I am sure we all get the concept. The size of your family really doesn’t matter; everyone should have a budget of some sort to follow.
I am sure you have heard of Dave Ramsey and his getting out of debt system. It is a great system but requires a lot of self-control and strict budgeting. I have his books and workbooks and they are great assets. Following the instructions in his books will definitely get you out of debt.
I am a realist though and I am well aware that everyone may not be cut out for Dave Ramsey’s system. I am one of those people. Many will say, “Well then you are not committed to getting out of debt.” This is not the case. I am committing myself to getting out of debt but I am going to do it the best way it works for my family.
I created the spreadsheet below in order to help me with my monthly budgeting. Please feel free to grab it and use for your personal use.