Several months ago, I attempted a 30-day Financial Fast. What’s the idea behind a financial fast? Basically, it’s to lower expenses, pay off creditors, and start saving.
Yet, it seems I have since made matters worse. It’s so easy to become focused on what you don’t have and splurge on things you don’t need.
Here’s where budgeting and being extremely strict about spending comes into play. I usually do not spend much on anything. But just one slip of payments to creditors and the fees go haywire!
Today is September 2nd and lets get this budget figured out before the end of the year. In fact, let’s start the financial fast today and pay off some major creditors!
Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much. (Luke 16:10 NIV)
I don’t get paid much, especially by the means to live in “paradise” Hawaii. The cost of living here is ridiculous and the every day needs are totally unfriendly prices. There’s no easy way out here.
Currently I have 5 creditors, plus a college loan to pay off. Unfortunately, my income does not allow for me to pay off credit cards and not use any of them for anything.
I do have one that is a specialty card that I can only charge for specific charges, which I refuse to use anymore. Unfortunately, the total this far is higher than it should be and I should place more on it monthly than I do so that I can snowball the payments to the next card.
Also, my bank account is pretty bare at the moment so it looks like we’ll be cleaning out the refrigerator this week and not buying groceries. Let’s see how far this pantry can stretch as well!
Payday is this Friday. I get paid every other week. Stretching the income for two weeks is indeed a challenge!
There’s also a freebie book I found on budgeting God’s way. I am determined to read a chapter a day and see how educating myself will be helpful as well in curbing the spending.
But everything should be done in a fitting and orderly way. (1 Corinthians 14:40 NIV)