Monday, April 16, 2012

Practice What I Preach

Just about a year ago, my husband and I announced that we were consumer debt free!  The only debt we held, at the time, was a student loan (that I swear will never be fully paid off!).  Anyway, since last April we relaxed a bit with the budgeting, what a BIG mistake.

We have acquired $1500 in credit card debt (I know, right!  I feel horrible.), and we now also have our mortgage (which feels GREAT!).

Each month I keep thinking to myself, "where is all the money going?", I finally decided to practice what I preach.  I worked to organize the last 6 months of our expenses into categories to see what we were ACTUALLY spending....nearly fainted at the numbers, and then created a plan.

The crazy thing?  During this period of time of little to no tracking of our expenses, I was creating these actual spending sheets and budgets for friends and family!  How hypocritical of me, I should have been on top of our spending before giving other people advice.

Anyway, thankfully we are back on track and have a plan to repay all debt by the end of the year, and I have been EXTREMELY diligent with tracking our spending since my initial discovery of our finances last week.

Does your family budget?  Do you need help setting up a budget?  I hope be happy to help.  Simply e-mail me @ and I will either do it for you (obviously with your involvement), or guide you in setting up the tracking sheet, creating a debt reduction timeline, and a monthly budget.

What are your financial goals?

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