One of the most frequently asked questions is, “How do you do it with so many children?” My response—You do what you want! We have never driven new cars, followed the latest clothing fads or had a large entertainment budget for dining out, going to the theater etc.
Being an old fashioned, pen and pencil sort of gal, I have a notebook (my Budget Book) with columns spanning 2 pages to organize my spending. Categories include:
- Standard (tithe, rent, insurance, utilities, phone)
Under each category, I make notes beside each entry as to what or where it was incurred (ex: Misc-$4.50-batteries or Food-$20.00-Walmart) I know there is software available that is very effective but then… it’s hard to teach an old dog new tricks!
Analize Your Expenses. After a month, look at where the money is being spent. Begin looking for areas to cut down. I will post personal examples of this in the future.
Distinguish Needs vs Wants. This can be difficult in our culture! Peer pressure and selfishness can make this distinction very cloudy. Simplifying our lives has helped me as we have gotten back to quality family time and viewing “treats” as just that, treats for special times.
There are great financial resource available to help anyone who desires to live in financial freedom.