Belt Tightening

In the next couple of weeks ahead, the spouse and I are going to be taking a look at our financial situation and examining once again, our buying habits. At least for us, this is never a pleasant process, so it's not something I'm looking forward to. Because I worked only part time several years while I went back to school, we amassed some credit card debt as well as school loans. Three years ago or so, he got a second job to help pay this debt down faster, and although we are doing okay, we do not seem to making progress. I think one of the reasons is that we haven't been budgeting as carefully as we should so we're spending close to what we make, and not applying everything we could to the debt we've accrued. Also, although we aren't big credit card users, we do once in awhile-when we think we have to. We haven't, as many financial advisors insist, cut them up or closed our accounts. And, I think there's a universal principal in force here, and that is, no matter what you make, whether it's 6K, 60K, or 600K, if you aren't careful, you will tend to live at or above your means.

To this end, I've been reading and listening to a number of experts on this issue-Dave Ramsey (both on the radio and online), Suzi Orman (on cable 53 and I picked up her latest book at a thrift store (ha!), and then lately, I've been reading a book by Mary Hunt called "Debt-Proof Your Marriage", and looking at her website, www.cheapskatemonthly.com. Managing a budget and living within your means is NOT rocket science, yet, all three of these people have considerable financial wealth bestowed on them by people like me, who want to learn how to handle money better. (Ironic, isn't it...)

So, we now are asking those tough questions that you must ask when you reassess your money situation-do we need a newspaper subscription at 16.00 a month? How about cable (we have the basic package, or maybe one tier up). Internet? Bottled water? Soda pop (even if it's diet)? Going out to eat with family on Friday nights? We're fortunate in that we drive old cars, and don't have a car payment or high insurance/taxes, but one of these days, one of those old cars is going to bite the dust. Then what?

Since there are people who make 600K struggling financially, as well as those who make much less, I don't know that it's a matter of how much money you have coming in-however, there are many families who are really experiencing some economic hardship these days, battling continual price increases of both gas and food. I visited with a woman yesterday who came in to our church to place an order for Angel Food. She said she has a good job (she works at Spirit Aerosystems), but supports 5 kids and a disabled husband, who is not able to work right now. She was grateful to be ordering a couple of units of food, which was going to be helpful for her and her family. We also had some Hawker Beechcraft strikers come in to order, and we welcome them, but that's another topic for another time.

Anyhow, time to go make breakfast on this Sunday morning. I'm grateful for the ability to work, for a job to go to tomorrow morning, for family, for old cars that run, for old houses that are liveable, and for life itself. May all of you reading this have a blessed week!