Money - Financial Organization

Create a Zero Budget – all of the money going out will equal the amount coming in. It is all accounted for on a weekly or monthly basis.

There are ways to pay down your debt more quickly. 

Example: 

For credit card debts focus on the smallest debt and pay that off as quickly as possible. When that is payed off the extra cash goes to the next lowest, etc.

Another way might be to pay off the highest interest debt. It depends on your individual situation. 

Resources

Total Money Makeover

by: Dave Ramsey – The Peter White Public Library has copies.

Green Path - A national non-profit that offers help in dept pay-off solutions. 833-529-0432

Your accountant may be able to assist.

YouTube - “Till Dept Do U$ Part” - Gail Vaz-Oxlade

It gets to the point of budgeting and planning for the future.

Zero balance budget sheets online and in Dave Ramsey's book.

Example:

Your income equals all of your expenses. 

Income after taxes     $3,000

Total expenses           $3,000

Equals                                 0

​

Expenses includes all money going out - debt repayment, interest paid, emergency fund, food, etc. 

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A great way to discover what you are actually spending is to right down every dollar spent and on what.

The Envelope System – (or you could also use clear jars)

An envelope is created for each of the areas you spend. Cash is put in each envelope for the week. For example your food budget might have $150 for the week. Every time you purchase food it comes out of the envelope. This cash needs to last for the week.