Joel and I have decided to go through Financial Peace with Dave Ramsey this fall. We have learned soooooooooooooooooooooooooooooooo much already.
I want to share more here on our site because we think this concept Dave Ramsey is on could change many more lives out there! And bring financial peace over lots more families! So stayed tuned for my weekly installments called "Strickland FPU"
STARTING LINE: With the help of our FP Counselor Tricia, we were able to lay all our finances on the table and make a plan. We are now week 4 in the FPU classes and have implemented that plan. And it started with this.
This is our money exchange center, better known as our envelope system.
Ours is the little blue one. It has 12 slots where we budget our spendings. Our tithe, groceries, bills, clothes, ect all get budgeted out each paycheck and put into these slots. When the money runs out- it runs out! This isnt such a new concept- we have been a cash only family for a long time.
But we have been able to make our money behave a little better this way. Its a really detailed system. We also now have some savings!
Our two main goals right now is to maintain the budget, and build up an emergency savings fund.
The yellow box is the girls envelope system. They each have three envelopes: Giving, Saving, and Spending. At each pay period, when daddy earns his commission-the girls also earn theirs. Just like their parents- they divide all their money up. Its been interesting in seeing who takes joy in saving!
And the boys got the girls old money jars. Now DJ and Taylor are saving their own cents. Dylan gets cents when he helps around the house too. He gets paid instantly though-he has such a short term memory and needs that instant gratification.
"THANK YOU LORD for all we have learned thus far! May You continue to grow us and show us ways to have financial peace so we can live like no body else!"