The task of creating a budget can be a daunting one. Financial planners cost money and a majority of the people who need the help of financial planners are barely making ends meet. Here are some tips for real people who need a budget:

Take your financial picture
Write down ALL your regular bills and their due dates
This will include all utilities, housing, food, gasoline, insurance, etc. . .
Include at lease $40.00 miscellaneous money per week.
Write down ALL your regular income
This will include your job or business, child support, alimony, etc. . . .

Now subtract your bills from your income
If there is anything left over then you are not in the worst position.
If there is a negative balance then find out where you can make cuts.

Now put yourself on a schedule. Out of each paycheck pay whatever bills are DUE within the week. If all your bills are due around the same time then you will need to pay each bill in advance until you get to the last bills which will probably be paid just in time.

Once you get use to your new schedule, you can begin to find creative ways to save and cut your costs. Your household should be run smoothly like a business so wherever you can cut costs, do so.

Now go take your financial picture. Next time I'll discuss how to get rid of old debt

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That is right. The question I have is "why?" Why are we still trying to keep up with the Jones knowing we should use it for savings or paying down debt. What are we trying to prove? In todays day and time, you would think we know better. We need a serious reality check. If people really looked at their net worth instead of that paycheck, they would be in for a rude awakening.
True. So true. I use to be one of those people who had their paycheck spent before they got it. Now I am still digging myself out of that terrible mountain of debt that I created. When I finally get debt free, I wont know how to act. I'm taking a grant writing course right now. I might write my first grant proposal for my own purposes. If there really are grants to help you pay off your debt then I want one. :)
Hello Ladies; What a topic, I agree wih all our comments. I wish someone would've told me this 15 yrs ago, wow was I blowing everything I got, but I thank GOD, he gave me another chance to get it together, each 1 teach 1, trust me they'll get it one day....and tithes & offering is a wonderful thing :)
Tithes and offering is the best thing isn't it. It sets the tone for things to happen. That is obedience to God and when you're obedient to him with the money that he has blessed you with then he just blesses you more.
This is a great post, I wish I added it to my guide for Single Moms. The guide actually includes a section entitled 'Momma's on a Budget', including spending tips, tax info, debt/credit advice, and useful blogs/programs for moms interested in getting on a budget.

Here is a link to the guide if anyone is interested - Mahogany Momm...
You can use it. I'll give you this one for free :) This is what I do. I love to plan things. Budgets included. So feel free to cut and paste.
Let me also add this, when "we" are in business, "we" must have a different mindset, I mean, we have to realize that we can't run to the mall every week, go to every concert or show, we have to remember o.k. this just because you close a big deal, doesnt mean you run to he mall or go on a cruise, it's time and a place for celebration, because you don't know when another big deal is coming, I learned to take small celebrations, like family dinner to your favorite local spot, or going to the spa for a med/ped, and when you get a few big ones under your belt, PLEASE STASH SOME $$$$ OH, I'M so glad I learned tht one, because you never know, let's continue to share the knowledge and experience, it's hard out here for a Black Business WOMAN :)
Janovia, I was just wondering, what are you doing now? You say that your employment is up in the air but I see a great talent in you that I wonder if you've thought about using to help others. For instance, in one of your discussions, you stated that you love and is good at organizing things, and you seem to have a some knowledge on a variety of topics. Have you ever thought about becoming a life coach because this is what I think about when I read your discussions. Life coaches are really popular now, especially with the new influx of work at home moms trying to balance work, family, church, me time, and a host of other areas in our lives that are so important, but can be very daunting. What is your dream career?
It is odd that you bring up life coach as a career option for me because I have actually thought about being a life coach. I became familiar with life coaches while watching the show Starting Over some years back. Right now I am in school online getting my bachelors degree in ministry in teaching. I am also taking a grant writing course. Maybe I'll write a grant for myself to get funding to become a life coach. Other than that, I am just looking for something to get the bills paid in the meantime. I will def. look into the life coaching thing though because I am a firm believer in receiving confirmation from the Lord through people. Confirmation is what led me to enroll in Bible College as well as in the grant writing course. Thanks for pointing that out steelblacknolia. I actually do enjoy helping people achieve their goals. It makes me happy to see people accomplish things that they never knew they could accomplish.
I'm glad this was helpful to you. If you need any help, let me know.
Hi Janovia,

Thanks for posting this. You make it seem so simple to start saving & budgeting. I'm trying this with my very next pay check!


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