Lesson 3: The Dreaded B Word – BUDGET
You may be wondering why I am bringing up the dreaded B word – BUDGET- during the middle of the Learn To Coupon series. As you may remember when I introduced you to my blog, I told you one my main purposes for using coupons is to save more money and pay down debt (“saving money on purpose”) so we can be a blessing to others. In order to effectively coupon, you must have a budget and stick to it. My family uses the Dave Ramsey principles and we highly recommend it to anyone looking to be a good manager of your money and resources that God has blessed you with. Even my children operate on these principles with the money they receive for chores they do around the house and with gifts of money they receive as well. Various churches/groups in your area conduct Dave Ramsey Financial Peace University classes so check his website for more information.
You should operate on a CASH basis for your groceries, household items, etc. because it helps you to think twice about how you are spending your money. It is so easy to swipe the debit card (prepaid or not), but when you pay cash you really feel it (trust me I know). Plus, it helps you to have self control and not overspend on items just because you have a coupon.
People also have asked me how I set the cash amount for my grocery budget. My family’s personal budget is $25 per person per week for groceries (and I am working on lowering it – more to come on how I am doing with that). We have separate budget line items for toiletries and household items of $25.00 per month (I have not spent that much in quite awhile since I have a good stockpile). You should discuss with your family and figure out what budget works best for you. If you want to start right away in creating a budget just remember that whatever income you bring into your house has to be the same amount that goes out. Otherwise, you are OVERSPENDING! Here are some budget tools from Dave Ramsey to get you started today.
Let us know how you are doing with your budget or if you have any questions you can email us at email@example.com
Did you miss Lessons 1 and Lesson 2 from the Learn To Coupon series?
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