Christian Debt Free Living

Enjoy the good life that God planned for you!

The Ultimate “Get Out Of Debt” Solution

God is the ultimate “get out of debt” solution. I invite you to visit my website www.OverflowLiving.com where I offer an online Bible study, verses by topic, faith confessions, free forms, Christian gift ideas, and money saving tips. My goal is to help you step out into the good life of abundance and overflow that God planned for you!

October 16, 2008 Posted by getfreefromdebt | Uncategorized | , , , | No Comments Yet

Family Budgeting Part 3

Here’s another important tip to keep in mind when building your budget.

Avoid using estimates whenever possible.

For example, let’s say that I think I spend about $100 a month on groceries. But, if I was to pull out my checkbook, credit card statements and receipts, I would know that I actually spend $800 a  month. If I was to build my budget based on my “gut feel” or what I think, I am going to be way off. And what is the result of such a big miscalculation? Well, it may mean that I spend too much in another area and then find I don’t have enough to pay for food that month. Some of you may have even found yourself in this exact situation which can be very scary and frustrating.

I know it isn’t fun to gather up all of your exact expenses for an entire year. However, the extra effort is going to pay off in the end because you are going to have a much clearer picture of where your money is being spent. In turn, this knowledge is going to help you to make better financial decisions and good decisions are what will put you onto the path of financial freedom!

October 12, 2008 Posted by getfreefromdebt | Uncategorized | , , , , | No Comments Yet

Family Budgeting Part 2

So, how did you do on your list of expenses? Did you get everything?

I realize your instinct may be to exclude certain things because “they don’t count.” (That’s how I always feel when I list how much I spend on clothes. Yikes!) However, you are only hurting yourself if you do this. In order to figure out how to get out of a debt situation, you need an accurate and realistic picture of where your money is spent. If you leave things out you will get frustrated in the end when you are still spending more than you make.

Here are a few more items that I forgot to include that you’ll want to put in your list.

  • All outstanding loans including second mortgages, home loans, tuition loans, loans to family members, etc.
  • Trash Removal
  • Home Maintenance (painting, furnance filters, salt, etc.)
  • Furniture and Decorations
  • Life Insurance
  • Disability Insurance
  • Veterinarian
  • Pet Food & Toys
  • Attorney Fees
  • Child Support
  • Payments on Liens or Judgements
  • Dry Cleaners
  • More Supplies (Detergent, Fabric Softener, Stain Remover)
  • Charities and Donations
  • Postage
  • Health Club
  • Child Care

Please feel free to share any other expenses I may have left out. 

 

Until next time!  :-)

October 5, 2008 Posted by getfreefromdebt | Uncategorized | , | No Comments Yet

How do I make a family budget?

Debt can be defined as spending more money than what you have on hand or make through your income. Being debt free is therefore defined as not owing anyone money because you have paid for everything in your possession.

One of the first steps in becoming debt free is to determine what you spend money on. I encourage you to make a list of all of your expenses for the past year. To help you make your list, below are some categories to keep in mind:

Mortgage
Car Payment 1
Car Payment 2
House Insurance
Car Insurance
Health Insurance
Doctor Visits
Prescription Medicine
Over the counter medicine
Groceries
“Eating out” Expenses
Education Expenses (tuition, books, supplies, fees)
Gas for Cars, Lawn Mowers, Snow Blowers
Car Maintenance (i.e. Oil Changes, tune ups, etc)
Parking Expenses
Clothing & Accessories
All Cards & Gifts (Birthdays, Christmas, Valentine’s Day, Just Because, etc.)
Household Supplies (paper towels, napkins, food containers, foils and wraps, plastic bags, cleaning supplies, large storage containers, gift wrap containers, etc.)
Personal Supplies (bar soap, shampoo, conditioner, hair products, feminine hygiene, lotion, deoderant, makeup, toothpaste, tooth brush, etc.)
Vacations (Airfare, airplane food, hotel, rental car, luggage, gifts, momentos, etc.)
Utilities (water, gas, electric)
Phones (landlines and cell phones)
Cable TV
Internet
Purchasing Checks from Bank
Haircuts, Manicures, Pedicures
Tithes and Offerings
Subscriptions (magazines, newspaper, internet)
Entertainment (movie theater visits, movie rentals, car shows, museums, concerts, special events, concession purchases, books, CD’s, DVD’s, etc.)
Recreational Toys (motor homes, snowmobiles, sleds, skis, four wheelers, motorcycles, campers, boats, trailers, maintenance fees, storage fees, etc)

Please note that the little things add up and can really put you over the edge so don’t forget items such as your morning coffee from Starbucks, the daily newspaper you grab from the checkout lane, and your afternoon snack at the vending machine.

Go ahead and work on your list and we’ll re-group tomorrow for the next step.

 

http://www.keepinglifesimple.net/Freedom_From_Debt.html  “Possible solutions to escape the burdens of debt.”
http://www.keepinglifesimple.net/Jobs_and_Money.html  “Find a job that you love and enjoy!”
www.OverflowLiving.com “Learning to live the good life that God planned!”

 

 

October 5, 2008 Posted by getfreefromdebt | Uncategorized | | 2 Comments