Cash Only Budget n envelope System
We started this method of Dave Ramseys for paying off our debt last month and in two or 3 weeks of following it we have payed off my husband truck loan by using our savings which we were saving 10% each week. In this way we are saving $150 a month for the truck loan amount. He then decided to trade in his truck for a Toyota which gets much better miles per gallon so that will save us another $10- $15 a week on gas and were hoping the insurance will also be less since it's paid for we are only getting liablility not full coverage like you need when you don't own the vehicle. We had to pay $250 on top of the trade to make it final so now we are at $0 again in savings and will be working at getting our baby step 1 $1000 emergency fund saved up again.
I must admit I fell back into using my 0% interest Chase Freedom c.c. again I'm over 1/2 of the total limit and I don't want to go over the 1/2 mark so I've really got to put that card down until i can get that total balance below the $2k right now it's about $2500 i'm not happy about that. i've also used paypal to purchase several things one which i'm least proud of is $200 worth of ebooks on surviving and preparing for the end times i havent even read them and know that i'm not going to i tried to get my money back but couldn't find a way to do that so it's a loss but it would be more so if i spent the hours of time reading the ebooks n trying to follow them. i think my time is best at saving our family money, focusing on ways to be a light and a blessing now to my family and others, not preparing for the worst and constantly thinking about that, no thank you!
We are going to save the $1k again emergency fund and then work on saving a minimum of $2k for buying a home we are hoping to have that by february to march of next year. it seems things always come up though....i'm going to remain hopeful never the less. I am thankful where we are living we are saving atleast $200 a month on rent and a house down the street for rent is $1200 so maybe alot more for this particular neighborhood the downside is the landlord doesn't fix anything he only has one maintenance man so anytime something needs attention it takes forever and isn't fixed well more like a bandaid fix. but we are determined to stay here as long as needed to get our money saved up.
it can always be worse so we must remain thankful and content!
tell me your stories of budgeting and have you tried any programs for getting out of debt or saving money? what's working for you? i'd love to hear from you! Have a blessed independence day!!