Wednesday, November 01, 2006

a budget

This post is for wives who's husbands have charged them with tending to the household finances. Some women have strong convictions that only the man should care for the finances, but as Mrs. Pearl points out, we are to obey and submit to our husbands....therefore, if he asks us to take care of finances, please do so. My husband has asked me because he doesn't want to. He believes me to be better at such book-keeping and he trusts me with the money he brings into our home.

However, with this added responsibility comes an issue. You see, it is natural for your husband to want to know where the money is going and what you are doing with his paycheck. Especially if money is tight and he doesn't see any reward for his efforts. A wife in charge of finances needs to put together a simple budget and balanced checkbook that she can show her husband frequently so he knows where his hard-earned dollars are going.

I am going to show you my method of financial organization. You're free to follow it or adjust it according to your preferences. I'm not saying this is the be-all end-all method. It's just the one that works for my family.

1. Make a budget. I make one for the week based on my husband's weekly paycheck (which is consistent). To make sure I always have a little extra money, I round my husband's paycheck down and bills up. I list every bill and expense from what hubby needs per week to the mortgage, phonebill, etc. If they are monthly payments, I break it down per week. For example, my electric bill is budgeted at $80.00. On my weekly budget, I list $20.00 under electric bill. Why? Because of the envelopes.

2. Use the envelope system. Write one payment per envelope...an envelope for the mortgage...an envelope for the electric bill...etc. Every week according to your weekly budget, place cash in the envelope. For example, every week I place $20.00 in my electric bill envelope. Then when it comes time to pay my bill, I have the money already set aside to pay it.

3. Always keep your checkbook balanced and well-written. Use both lines. The first line write where the expense went to, the second line what for. For example, say I wrote a check for Walmart. In the first line I write "Walmart" in the second line I write a brief description of what I bought, "baby needs, b-day card." That way when hubby takes a look at the checkbook he not only sees where the money went, but why it went there.

4. Stay within your budget!

Happy Budgeting,

ladyscott

5 comments:

Barbara said...

You know, I have never read that book. I have thought about it and may do so, just to see what all the fuss is about.

Amity said...

I looove that book, it is great :-)

As far as handling the finances, I too handle ours as it is my hubby's desire that I do it. He only has 6 days off of work in a month and many times he works 12 hour days. He definately does not have time to be paying bills and such. He trust 100% and I always try to honour him by spendly the money wisely.
Thanks for the great tips !!!

Anonymous said...

I love the envelope method...although I found it time consuming and too many trips to the bank since our checks our automatically deposited, and alot of our bills are debited from our account. I found an online version of the envelope method...recommended by a pastor's wife - I just started using it and so far I think it's pretty cool. There is a free trial and you can buy the system for only $30 (there are some others that charge monthly fees and whatnot)

http://www.snowmintcs.com/products/budgetwin/index.php

Just my $.02 because I found it so handy myself...and because the envelope method is great, but for people who work it might not fit in schedule wise.

K

Anonymous said...

When at first glance, the book seems ideal. However, you may want to have a closer, more in-depth look and the doctrine that shapes the woman, who is bound to be very kind and gentle, but seriously flawed in theology, which shows up in this book. I long for a book I can recommend to women on this subject, I had great hopes for this one. Now, I would not recommend it on several levels. I guess if you are into the Gap Theory and the horrific substance that is bound up in it, you may find complete agreement with the book. I am glad that despite the doctrinal flaw within the book, God was able to use it to bring joy to your life.

Leigh said...

Hi Kate,

Don't you just love it when people criticize but don't leave their name? Sorry, I am being sarcastic.

Anyway, I loved the book too! Sure there are some things I don't agree with, but they don't negate the main points in her book. I found it to be truly eye opening and humbling. I would also recommend it to anyone.

I love your tips on budgeting! I need get better at this!

Take care,
Leigh