Here is the abridged version of the back story (context) … I was broke and did not know it! How come, you may ask? I had cash in my hand so I thought I had money. Wrong, wrong, wrong!
As I told you, my “Talk Truth” set me free in more ways than one. Money management for me was for people who had money. This was, in my head, not me. So long as I was able to pay the bills when they became due, I’m good. Right?! Wrong, wrong, wrong.
There was a leak in my financial boat and I was drowning in debt. It’s time to plug the leak (correction – immediate action), the root cause showed that I was “clueless” about finances, and so I had to build a plan around addressing this root cause (corrective actions).
The Word is clear, “My people perish for lack of knowledge.” So when January 2020 rolled around I was in full Rona V-mode – research.
I needed help and I went a looking. The Lord knew I was serious and committed to this change and so He orchestrated my search.
It never took me long to land (and stay) on The Budget Mom (TBM) talking about her, get this, debt-free journey. My dears she has a TBM Freedom Steps – 1) Find your WHY, 2) Research and awareness, 3) Eliminate or reduce, 4) Establish a budget, 5) Debt plan, 6) Organise savings, 7) Maintain and succeed. This resonated with me. Additionally, her videos never hit 30 minutes, she gets to the point (no rambling and small talk) and when she finishes, it’s clear. Bingo!
40-Forwaders I pause here to encourage you to seek help if you think you may be in a similar situation. If money management is your thing, reach out to someone who may need your help.
Back to the story …
Very rarely do I follow things in the order given, but when I am done, all the steps are taken. The first step I took was understanding where my money went – TBM calls it tracking your expenses. Well, I dug up receipts from 2018 to 2020, put them into categories, created an Excel spreadsheet that gave me a Y-O-Y comparative pie chart, and then from this I deduced my average monthly spend for each category. That’s too excessive Rona V! Nope. Remember, I’m broke and I’m drowning so I have to be clear on what’s dragging me down and keeping me under. And besides, this is just how I roll – details.
In the final analysis the results weren’t good, but now I knew the state I was in. (Selah)
TBM has helped me to develop a new discipline – still falling short on tracking every dollar, but I’m getting there. I’m armed and dangerous with my exercise book expense tracker, I have a colourful collection of cash envelopes, my highlighters and crayons are locked and loaded, and I am working the zero-balance system (every one of my dollars now have an assignment).
Truth be told, when August rolled around I still hadn’t gotten it right, but I reminded myself of The Budget Mom’s instructions, to not stress over the small amounts and do not get frustrated and give up. So every month, I tweak and repeat.
I lost traction in August and September so I have hit the reset button for October.
The Word tells us in Proverbs 11:14, “Where no counsel is, the people fall: but in the multitude of counsellors there is safety.” So I kept searching.
I came across Dr. Lynn Richardson (see reminds me of my foster mother) – she doesn’t mince or waste words …
- Learn what you don’t know.
- Know where every penny goes.
- Money does not talk, it walks. Where is yours going? There’s no such thing as “It’s jus”.
- Learn the rules of the game and play the game by the rules.
- More money doesn’t solve a money problem.
- Move away from living check to Monday.
- It’s no rocket science, 1+1 must equal to 2.
- Broke people need to stop acting rich in front of other broke people.
- Don’t quit.
- Live by the 10-10-30-50 Rule
See what I mean?! She is razor sharp with her words. When she lays out the principles and gives her financial advice, all you want to say is, “Yes ma’am!”
Search the Word of God for its money (finances) instructions. Now go work the Word!
I intend to be a good steward over the finances God hath blessed me with. How about you?
All my 40-Forwarders, if you are not on the financial (money) management train with its first stop – tracking our spending and budgeting, please hop on! This is a ride you cannot afford to miss! I encourage you to also share this post with others who may need to get onboard.
#MindsetChange #Budgeting #ImprovingMyFinance #Discipline #IAmAMoneyManager #GettingMyMoneyStraight
Very good financial guidance.
Very good my financial advisor keep up the good work.
I’m fully on board…making the right money choices…because where I end up tomorrow is determined by the choices I make today!
I’m next in line.