Sunday, 13 March 2011

Week 7 Challenge

I admit I haven't been doing very well with the weekly challenges over @ A Bowl Full Of Lemons, but this weeks challenge is one I both need and want to complete. Organising my Finances! or lack there of lol

This challenge is over 6 days and Toni has broken it down to nice easy bite size chunks:
Day 1 - Set up a budget, track all spending for entire 6 day challenge & Enter Giveaway
Day 2 - Learn about & set up an envelope system
Day 3 - Create a "Budget Box"
Day 4 - Create your debt snowball & learn about free budgeting software
Day 5 - Dave Ramsey interview questions answered
Day 6 - Giveaway Winner & debt free stories

I really need to do some research on who Dave Ramsey is and what it's all about. Being in the UK I feel a bit lost over Mr Ramsey.

{TH} and I are already on a budget and on the road to becoming debt free, although being debt free is a few years away yet. I am however always looking for new ways to budget and work our finances a little better. I sometimes get a little lost and mis-calculate so I need a system that works for us, that both {TH} and I can understand. It needs to be simple and preferably not use excel (unless someone can give me a crash course in using that damn prog!)

Maybe it's time for good old fashioned paper and pencils, I did buy those little notepads the other day that I have not given to the kidlets, therefore I could use those and those funky new mechanical pencils lol.
Whatever I go, it must be better than my current system, which involves:
Checking the bank online and scibbling on scraps of paper, that ultimately get lost. I always have a rough idea of how much we have coming in and going out, but I sometimes 'forget' to budget things in and then it messes up the week.

So this week, today is a new start and I'm determined to get a system that works and will continue to work.

First thing I need to do is write down all our bills and how much we owe, then I can break things down and work things out. For me the worst part is have 9 different paydays through the month and all our bills are paid monthly (at different times). Think today will cause me more than one headache but I know it's the first step on a long road that I desperatly want to get to the end of!

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