Do you know what that formula is? I know that most of you do. It's the formula from debt proof living. And what sense it makes. 10% goes to God. 10% goes to savings and you live off of 80% of you take home pay.
If you can't live off of 80% of your take home pay then you need to sit down with your husband and go over your spending plan or budget. Cut where you can cut. The grocery bill is one way to cut costs. Can you cut your grocery budget by 10,15,or 20 dollars. If so that's less you are paying out and closer to living from 80% of your take home. What are you spending on eating out? We all know how that can be a killer to a budget. I'm not saying stop eating out all together everyone enjoys going out. Maybe cut it back to once or twice a month and if you can use coupons when you go out that is even more savings. What we like to do is go early, we sometimes eat dinner around 4 if going out because many restaurants have early bird specials or 2 for so much and it's much cheaper than if you come in after that designated time. Drink water instead of a soft drink,that will cut your bill down as well and water is much healthier than soda anyway. There are many ways to cut your food budget. You have to be a bit creative and serious about cutting the costs or you will never do it.
Look at your utilities. Are they as low as you can get them? Unplug when your not using an appliance and save up to 20% on your electric bill. I don't know about you but 20% sounds good to me. Close the blinds on hot days to help keep your house cool. Open them on sunny cold days to help warm it. Use ceiling fans when you can. Change or clean the filter in your furnace. Get the heating/cooling system checked regularly to make sure it's running as it should. Those little thing can cost you alot down the road.
Use up before opening new. That goes with everything you can think of. Soaps,toilet paper,paper towels,cereals,bread I could go on but you get the picture. I get so irritated when my kids open up 3 or 4 boxes of cereal. We have a rule at our house now,use up the open boxes before opening a new one. Try not to let anything go to waste.
You work hard for your money so why not be as efficient as you can to ensure you are spending and using it wisely.
Once you have your spending to 80% WTG! It will take some getting use to,cutting back like that but once you do and you see your savings growing and your giving like you are suppose to be. You will feel a sense of accomplishment,you did it. Be determined and go for it.
During these hard times we all have to be smart with our money. God doesn't want us to be wasteful and he really doesn't want us in debt. Do what you can to get out of debt as soon as you can and don't accumulate any new debt. You will feel a huge sense of relief when you pay off your credit cards,medical bills,car loan and finally your mortgage. Like someone just lifted a huge boulder off your shoulders. Keep plugging those holes and soon you will have an air tight spending plan that include giving and saving.
I believe firmly in what I have typed above. If I didn't I would not have posted here for you. There is nothing that feels more secure than no debt,having money in the bank and living below your means. I encourage you to do this. I pray you will do what is best for your family. Talk with your husband and come up with a plan for your family together. Then put it to work.