Family

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TAKING CONTROL OF YOUR FINANCES

© September 26, 2007

Frances Carroll

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NEWS FLASH - Each of us should be personally responsible for him or herself where our finances are concerned. However, most of us are not that responsible, sad to say! We are often sluggish in our spending habits. We are inclined to spend ourselves into debt that quickly overwhelm us without realizing how we got there.

Acknowledging financial responsibility and getting a grip on our spending can change our lives and our focus. Recently I have begun using the “envelope system” and I am saving money with almost no effort at all.

Here is how I've worked it:

1.Sit down and make a realistic evaluation of your income
2.List everything you spend and the date that your bill is due
3.Be neutral with your partner or your spouse, not upset but look at where you are financially.
4.Make a budget. This will take several revisions and adjustments along the way but be determined to stick to your budget.
5.Pay your bills on time. I pay my rent, utilities, bills and church tithe by check for taxes .
6.Keep out cash in labeled envelopes for gas, clothing, groceries, “allowances”, eating out and entertainment funds all in separate envelopes.
7.Cut unnecessary spending. A lot of the “stuff” we have we really don't need.
8.Eliminate waste.
9.Buy less costly brands when we shop. That is everything from cereal to cars and beyond. EVERYTHING! Store brands will save you money and believe it or not we don't have to live like “Kings and Queens” regardless of what some of the television evangelist and book writers say. GOD wants us to live simply.
10. Limit eating out, movies, buying blackberries, computer junk, luxurious cell phones...that's just STUFF! It has “NO” eternal value what so ever and will only temporarily please you until the next new gimmick hits the store shelves.
11.When you go to the grocery store or buy gas or clothing pay cash ONLY! That helps curb impulse spending. It also helps you realize how much “stuff” you normally buy that you don't need.
12. Stop buying pre-packaged foods, meals, etc. Get a book of crock pot recipes and plan your meals ahead of time. Better yet, spend a day, or evening cooking meals, freezing them, and having them ready for the family to eat “together”. Stop buying frozen rolls, pizzas, etc. that buy bisquick and make biscuits faster than you can imagine, buy pizza mixes and enjoy the real delight of home cooked pizza. We have to stop living so fast paced with our lazy mind set. It only takes a couple of minutes to open up the pre-packaged pizza mix and prepare the mix. (Try it and you will see how much you can save.)

Think about what money you have to spend and when your next pay day will be coming around each time you remove money from your envelope. If you CAN'T afford it and it isn't in your spending funds...don't buy it. Save for the things you need.

Save something each payday. Build up your funds to have an emergency fund, birthday present funds, Christmas fund, etc. Need an oil change? Set aside funds each month for car repairs and expenses that way you won't drain yourself dry when time comes for those unexpected expenses.

Don't do as MASTERCARD suggests...use your CARD for I'VE GOT TO HAVE IT NOW items....impulse buying destroys financial stability. Using credit cards puts nothing good in your life it only adds to your troubles, that's the truth and you know it. The interest rate you pay on credit cards, cash advances and interest rates will cost you 3-5 time the price of anything you use the credit card for because most people don't pay their credit cards off, they just keep accumulating the interest. Stop being among the people making the extremely rich even richer off of the “average person” like you and me.

The envelope system works. My son and his wife saved $500.00 in six weeks using the system. I, myself, living on social security had a hard time living from social security day to the next month. I have already saved $125.00 in a month by using this system and have seen it will be easy to save more for something I really want to do or a special place to share what I have.

Lastly, that trip to Disney world, New York city, Gulf Shores, or the Grand Old Opry needs to be saved up for and go you have to start thinking about cash all the way. Using your credit card to finance these overly priced luxuries will leave you feeling exploited as you struggle with credit card bills. Using that credit card is like jumping on the credit card freight train to destruction. It will eventually wreck your life and your income.

Don't be fooled...none of us has got to HAVE IT NOW. That, Christian friend, is a lie straight from the mouth of the devil who wants us to be in debt and lose our joy. Owing money causes unhappiness whether you admit it or not. We don't have anything that we can't save and pay cash for and living your life to pay the creditors only makes the creditors happy. Being free from the yoke of debt will give you joy you cannot imagine and will open areas of Christian service you can't know when you owe everybody in town. Lastly, as I've learned this year, when a person dies someone still has to pay their debt. Do you want to be responsible for that kind of mess being left behind were you to die today?

Being free from debt and credit cards means you can do and be whatever God wants you to be. Remember, Jesus said, “You can't serve God and money at the same time.

Who are you serving?

Start the envelope system today and find financial freedom.

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