1. Know your income and your expenses.
  2. What‘s income? Pay check, social security check, child support any other part time work babysitting etc. 
  3. What’s an expense anything you spend money on from utilities to entertainment those movie stubs too.
  4. Gather all receipts from your gas, restaurants; any spending you do gather them.
  5. Gather all your statements:

Utilities (water, gas, electric)

Phone bill: land line and wireless



Insurance (life, car, home, health)

Credit card: (major and store accounts)

  1. Make two piles one marked “need” the other “want” for all statements and receipts this will let you know where you’re spending the bulk of your money and where you may be able to cut back.
  2. Deduct your expenses from your income do you have a deficit or are you saving a little each month?
  3. If the answer is no savings then things must change. Where your money is is going?  Is it going to the right places?  If not what can you do? Can you cut back on your “wants” for a time? This is not forever just until you save enough to feel comfortable if for some reason your income is cut or all together gone for a period of time.

This is my family budget.

Income percentages:

10% - church

10%- savings

10% -food (after coupons)

20%- insurances: car, life, health

30%- mortgage

20%-utilities (electric, phone: land / wireless, gas, satellite, water,)

Now after the budget has been met if there’s any income left being a self-employed family our income fluctuates monthly it can be difficult to save even what is left after expenses and two kids, but we try. Our rule is we use last month’s income to pay for this month’s expenses. What I mean is say this month June 24th we pay all our bills for July excluding July mortgage because we wait until the 1st of the month for that. This way we know exactly that we have enough income to pay our bills and we feel it gives us a little breathing room. 

In addition to the 10% savings we also do the 52 week challenge and deposit a little each week in addition to the 24th of each month. Now I know this can be hard to do, but I want you to know that after the first month it gets easier and you will find that if those financial emergencies come up you will be prepared. Need help planning visit the download page and the financial page at



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