Money Saving Mom®

Guest post from Chelsea of Stay-At-Home{MADE}Mom

Before I got married (or cared much about my where my money went), I was a financial disaster. There were many times when I didn’t have money to pay my basic bills, overdrew my bank account on senseless purchases, and stressed about how I was going to make ends meet.

I had no excuse. I worked full-time and had no credit cards or loans. And even though I was paying my own bills (including rent and college expenses) my problem wasn’t a lack of money, it was poor stewardship.

I started dating my now-husband who was going to school (debt-free) for accounting. If anyone could zoom in on my financial blunders, it was him. Around this time, I also started reading MoneySavingMom.com and I learned about a very handy tool: a budget!

I’ve had a very different life since. It wasn’t easy, but it was worth it.

Here are ten ways my life has changed since I learned to budget my money.

1. I no longer wonder if I will eat.

This isn’t as bad as it sounds. Even on my lowest days, I could have easily afforded beans and rice. I simply chose otherwise.

2. I pay my bills on time. 

I rarely paid my bills on time before. Whether I lost track of due dates or was short on money, it just didn’t happen.

3. I no longer incur late or overdraft fees. 

These add up so quickly, it’s insane. Thankfully, it’s been awhile since I had to pay one.

4. I no longer pay full price for groceries.

I used to walk into a store with no plan or budget and buy whatever I wanted. The bill was huge and the groceries short-lived.

5. I no longer get harassed for money. 

If you don’t pay your bills, eventually people will start calling, sending letters, or even knocking on your door to get what’s owed.

6. I can afford what I truly want. 

If I want something, I’ve learned it is attainable with hard work and saving. Just two years after setting up a budget, my husband and I were able to pay cash for our entire wedding.

7. I can freely give.

Christmastime isn’t stressful, tithing is a priority, and I can give to those in need without hesitation.

8. We have a back-up plan. 

It’s called an emergency fund, and it rocks.

9. We can live on one income. 

Because of our current lifestyle, our family of 3 can comfortably live on $500 a week.

10. We are now asked for financial advice.

Woah! Never saw that one coming six years ago!

It’s scary to think of where I might be today, financially, if I had not chosen to quit messing around with my money. If you regularly experience any of the hardships I did, I would encourage you to take an honest look at your spending and set up a budget.

Trust me, you can do it! Living in the bondage of poor financial decisions is no way to live.

Chelsea is a 24-year old stay-at-home mom and wife. She is passionate about living simply and debt-free while encouraging others to do so. She blogs at Stay-At-Home{MADE}Mom about being a mommy, creations she makes by hand, and how she does both on a budget.

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A testimony from Beverly who blogs at Grace For Seven

From the beginning of our marriage, my husband wanted us to solely rely on his income. It was fine with me: I wanted to stay home with my babies.

We were living paycheck to paycheck. We had one credit card and a home equity line, but we found out quickly we weren’t a credit kind of family.

We were a little irresponsible. Credit companies kept upping our limit because we were such good customers. Year after year was the same: we always had enough to make ends meet and to have a little fun. We were able to live within our means.

Cutting Everything We Could to Pay Off Our Debt

A couple of years ago, I heard about Dave Ramsey from MoneySavingMom.com. We read his book. We were so excited to make a difference in our finances, we had Gazelle Intensity.

We only had $10,000 in debt and our mortgage. We looked for services we could give up to payoff the debt quickly. We turned off cable and paid off our smallest bill. The Christmas bonus and tax refund paid off the rest.

We were able to save our $1000 emergency fund and a little extra. Our eyes were on the prize of funding a 3-month emergency fund, but we were still living paycheck to paycheck.

I went over our statements and financial reports and there was nothing else to cut. I looked for things to sell in a yard sale or on eBay and make a couple hundred dollars, but I couldn’t find anything.

Our Budget Doesn’t Make Sense on Paper

We made a few decisions after reading Dave’s book. We decided that “Cash is King” and we were going to live like no one else.

Then, some dental work was needed, the van needed work to pass inspection and I just sat back and watched our savings dwindle. I didn’t see how we were going build it back up.

I looked over the The Total Money Makeover again, thinking I missed something. We spent time budgeting everything. We were cutting coupons and using the cash system and I was just not seeing the Gazelle Intensity gain I should have been seeing. Our budget was not making sense on paper.

Thriving When We Shouldn’t Even Be Breaking Even

What we did notice is over the years we have continually tithed 10% and God has faithfully met all our needs. No budget can explain the fact that we were able to break even.

On paper, if I start with my husband’s salary, subtract all bills and necessities, we would have nothing left for saving or fun. However, at the end of the pay period we were able to pay our bills, put a little in savings, and go on a date.

We want to be good stewards of what God puts in our care. We are still working on completely funding our emergency savings. I know that whatever amount we are able to save for retirement or our children’s education, that God will help us and always supplies our needs.

Beverly is a homeschooling mom of 5. She has just recently taken the plunge into blogging and shares her struggles and victories of a life filled with grace at Grace For Seven.

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