First, let me say that I am in DEBT!! I have credit card debt, a car payment, student loans, a 401K loan, shoot, I may even owe you 🙂 (LOL).
But, for real I are in debt and I want to live a debt free life, stay at home with my kids, and travel. So in order for that to be my reality we have to get this debt taken care of. This month (July) I am making a choice and deciding that I no longer want to live like this. I no longer want to live where I have no idea where my money is going or being unprepared for an emergency, or that feeling of being trapped by the dollar. I want to be able to spend money on experiences.
So my first step is to put our family on a budget (or tell our money where to go). Now before I go any further I will tell you that I am not that bad when it comes to money I just need to do better because I know better (and it bothers me when we spend recklessly).
I sat down and wrote out all of our expenses (household, debt, savings, business, and giving). Then I sat down and went through the bank statements L . I then researched some budgeting tools that I wanted to use. I really looked for free tools that had really good reviews.
The first tool I found was Mint. I have used Mint before and I even remembered my password so all I had to do was update my banking information. That’s right it pulls your information from your bank and keeps the data and helps you manager your cash flow, bills, and budget. It even will give you and update on your credit score which is a plus (if you are watching your credit). You can view it online via a desktop or as an app on your phone. I am going to use this as an overview tool because I like the nice graph and how it keeps me informed of my spending from all of my accounts and puts it into categories.
The second tool I am going to try is brand new. It is the Dave Ramsey’s Every Dollar tool. This is available online via desktop or an apple app. Again this is a brand new tool but it lets you input all of your planned budget information for the month and then as the month goes on you can update it as you pay bills or spend money. I am going to give this a try for at least the next three months and see if this is a tool that will work for me. There is an upgrade version you can pay for, but for now I will stick with the free version.
I will also keep a written budget just because I’m weird like that and like to write things down.
I will keep you updated on how well we do budgeting using these tools. I am so excited about getting out of debt and living a wonderful life.
If you have any budgeting tools you like please share. I would love to try them (p.s. I love FREE tools).
Peace & Love
Porshia La’Shae 🙂