Budgeting in an Expensive Economy

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Budgeting, money, expenses, and bills are no doubt ugly words but very important. Many people make a living on simply advising those of us who are money illiterate on how to not just survive but thrive, and it begins with that ugly word – budget. 

person counting cash money

Let us look at some of Dave Ramsey’s tips:

  • Zero-Based Budget: Ramsey suggests accounting for each dollar you will spend in the following month, but be sure to leave a few hundred dollars behind in your bank account. Do not zero out your account.
  • If you are married, budget with your spouse. Make sure that everyone who needs to know is tracking the monthly budget. 
  • Do not forget that things change month to month, so one set budget will not work. Budget for each month.
  • Ramsey’s Four Walls: Food, utilities, shelter, and transportation come first with the budget. These are necessities, budget for them first. 
  • Make paying off debt a priority. 
  • Be sure to trim the budget where you can: eat at home, take your lunch to work, cut out some streaming services, shop discount, and be smart grocery shopping. 
  • Use auto-pay for your bills!
  • Do not spend frivolously or without a plan. Have an end goal for your finances. Build a savings plan and pay off big expenses. 
  • Track those goals!
  • Be sure to set aside a part of your budget for those unexpected expenses.
  • Do not use Credit Cards!
  • If you have trouble keeping under budget when grocery shopping use the cash method. Take out what you plan to spend in cash and only use what you have. 
  • Some people do not know where to start with writing a budget, try using online resources.
  • Keep goal oriented. Do not worry about what others have, focus on you. 
  • Remember not to be hard on yourself! Do your best and do not give up!

For Dave Ramsey’s full article and budget suggestions click the following link:


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Published by SmallBiz Staffing, LLC

Locally owned staffing company in Crossville, TN.

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