In my sermon today I mentioned some ways you can get on top of your money, here they are:
3 Steps
1. No longer spend more than you make
-This is a hard change – but until you make a firm decision that you will do whatever it takes to live within your means, money will always control you
2. Pay off all of your debt
-This is impossible without making a firm decision about #1. Once you decide this and go after it for real, you can make some huge gains!
3. Going to save money
-This will help you from ever having to go through #2! Start saving – become your own creditcard
Practicals
-Tithe
if you are a Christ Follower but don’t display trust in God by tithing off the first fruits of your income, your words don’t really matter much. (at Epic you can always do your tithe online http://epicchurch.us/donate/ – we believe that being part of the body of Christ is to really support the work and mission of the church)
-Budget
(http://epicchurch.us/donate/learn-to-budget/ is a free budget worksheet for you to go through – it takes some work but completely worth it!)
Here is how Jenni and I set up our accounts to ensure that the right money goes to the right place:
-Checking account (bills, gas)
-Savings account (insurance, taxes, fixed expenses save up towards pay ourselves monthly)
-Checking account (occasional expenses toiletries, diapers, etc.)
-Savings account (building security)
-cash (food, eating out, etc)
-Menu - calendar it out, make list, shop once or twice eat out less – Jenni and I are able to spend $200/month on groceries this way
-Savings: 6 months worth of expenses saved up but start with enough for a car repair
-Paying off debt: Snowball it pay smallest amount of debt first (don’t worry about interest) once that debt is paid off, snowball that payment towards the next smallest debt.
-Drive old over new get rid of car payments – stop thinking you have to have nice over simple functional (how much debt could you pay off with that $350/month car payment)