Finances and Budgeting

1. What does a good budget look like?

• Have a written budget, either on paper or your computer

• Plan a 0 based budget: this means that your income = your outcome to the penny, make sure to allocate all of your incoming funds somewhere, including fun money.

• Coordinate this with your spouse so it is attainable

• Sample categories: Tithe, Mortgage, Cars, Food, Clothing, Emergency, Gifts, Fun

• Be ACTIVELY involved in your budget so you stay on track

2.  What are some effective ways to organize your finances?

• Use online bill payment to schedule bills

• Budget software, YNAB, Crown Financial are some home budgeting software choices

• Enter receipts each time you spend money in your software so that its in the correct place

• If you use a credit card make sure to pay it off each month

• Owe nothing to anyone except to love one another;” Romans 13:8

3. What are some helpful tips in saving money?

• Use 3 savings accounts: Investment, savings & tithe

• When you save 20% on a sale item, put that 20% in your savings account

• Shop thrift stores, eBay, Craigs list, by on sale only!

• Conserve energy: Turn off lights and other appliances when not in use

• Each time you buy something ask yourself: Is this a want or a need?

• Stop Credit Card offers from coming to your house by calling them and having them take your name off of their list

• Self-discipline!

4. What are some useful ways to save on homeschool curriculum and supplies?

• Use the local library

• Used curriculum sales

• Borrow/trade with other homeschool moms

• Use the internet!

• check eBay for curriculum