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.
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:
https://www.ramseysolutions.com/budgeting/the-truth-about-budgeting
