Hustle and Budget, everyone needs a BUDGET!

You need a budget and working on your budget is a continuous journey, and don’t I know it.

We live in a world of social media, were being a financial advocate is not new; Suzie Orman, Crown Financial, Focus on the Family, Clark Howard all people I listened to either on the radio or TV in the good years before the recession of 2008. Many of us due to that event, or as a passion project pursuit are now entrepreneurs in the financial literacy field creating and advocating awareness. We are doing what Susie Orman and others do and have done for years and we are damn good at it too, just like they are.

Go Passion! Go Hustle.

Entrepreneurship is not new; there have always been business owners who were entrepreneurs, the convenience store owner, the hairstylist and even some of our dentist and doctors to name a few.  Back to Suzie Orman all the other awesome financial experts; they were the voices I would later turn to as I immersed myself into understanding my finances more, as a result of my changed life. And thus began my mission of building economic security through debt freedom.

My budgeting journey started in 2006, with a living downgrade, to a 2 bedroom apartment with my kids in tow. I took with me the debt from life as a married couple, I started my single mom on “one income family” journey and my finances has been a continuous balancing act.

When did your budget journey start? Are you aware that we must be economically stable and strive if possible to build assets, not just for today but for generations to come.

In 2016, I’m fully committed to the work needed for financial freedom, and understanding that a side hustle will do that for me and help me boost the deficit that child support does not cover.

Changes happen and to good people too; if you think they won’t happen to you, then you are naïve. Don’t be like Gloria, be Smart. Even the bible tells us 1 Timothy 6-17.… Crisis and changes… are all uncertainty; but in all God remains our certainty, we see that things can come and go but our God remains the same.

A budget is a plan for spending money. To create a budget; a good place to start would be to check what you spent the prior month, and whatever that amount is, is the start of your new budget. If you have spent more than you should then you should not be using what you spent last month as the starting point. This may lead to an exaggerated spending plan and it won’t be a realistic place to start; if you can relate let’s start with an averaged out spending of your last 2 or 3 month.

Are you confused already? Budgets – averages, 2-3 months prior??? If this is you!!! Then you need a zero based budget, meaning that you my dear need to budget afresh at the beginning of every month.

List all your income, expenses and debt including irregular income like dividends, bonuses and child support in a separate category of income and remember not to base your monthly expenses on them.

Concerning your grocery category, it should always include; Paper goods, Laundry supplies, School lunch for kids, and eating out. If unclear about your $0 budget for grocery, you need to check the federal guidelines; click below link   for guideline set by United States Department of Agriculture (USDA) http://www.cnpp.usda.gov/sites/default/files/CostofFoodFeb2015.pdf

My family of four on the LOW COST PLAN monthly budget will be spending at least $725.00 monthly, find were you fit in the schedule and see what your family plan cost should be and work from that amount as you plan your shopping.

Here are five basic needs category to focus on.

Food

Shelter

Transportation

Healthcare

Clothing

Ways to save on basic budget needs

Food – Use coupons, Shop loss leader page, buy store brands. You may need to visit the food pantry for non-perishable foods.

Shelter – Inquire about discount programs through your employer or state programs. Research locations always and compare against school districts and proximity to basic places you and your family go to.

Transportation – Ask or Google discount programs through your employer may have or any federal promotions. Also remember that the winter is the best time to buy new cars. Take advantage of local buses, trains and employee benefits through employer.

Healthcare – Enroll for Health savings account with your employer and ask about state medical services you may qualify for through Obama Care. Coupons are also available for major medicines if you ask your medical doctor or pharmacist.

Clothing – Shop at consignment stores, shop semiannual sales at major department stores and visit your thrift stores. And invest in a good laundry detergent.

Change Watch – 

What savings services are you trying out?