Gail Force Winds

Since having a new mind set of "why do it later when you can do it now" there have been a number of things in our lives that have needed "cleaning up". It started with kitchen cupboards and worked its way through all sorts of organisation and ticking things off the perpetual to-do list. The girls toys were sorted through, Social Insurance Applications sent in for the girls, figuring out a new laundry system and completely reorganising our main living room to also include an family/home business office space for me. There is still lots to be done and a number of half finished projects begging for completion but we are on our way of acheiving my own personal goal of an uncluttered functioning living space.

One project that needed attention was our Family Budget.

Rephrase: lack of Family Budget. It isn't that we didn't have one it was what we had wasn't working.

Though we have shared similar goals, JR and I have very different mindsets when it comes to managing finances. We weren't in dire straights at all but I saw us on a slippery slope to bad credit and doomsday endings. I felt like we were running a little willy-nilly and needed to get back in control of how we were spending. It felt like the responsible adult thing to do. Our debt has not been incurred irresponsibly but sometimes I wonder if there really is any responsible debt at all.

Proverbs 22:7 "...the borrower is servant to the lender."

We needed a plan. To do this I turned to the one person that I really respect when it comes to managing money and finances: Gail Vax-Oxlade. I've been watching her show on TV for years and often it has instilled stress into my little heart because I worried we were not at all anywhere near where we should be financially. So I decided to visit her website and use the free tools available to create a budget that would work for our family. After some number crunching and discussion with JR we made some small changes to our daily lives that will hopefully make a big difference in the long run.

Our goal is to be debt free (besides our mortgage) in 1 year or less.

-Grocery budget was cut in half. I used a calculator on Monday when I went shopping. I was ticked because I was over budget by $0.02 when I got to the cashier. JR figured he had a spare penny or two someplace to help me out.
-I phoned our mobility provider and had our bill reduced by nearly $30/month
-Reduced our satellite by $6/month and might be able to shave off more yet as well.
-I'm also trying to be mindful of how much water, electricity and natural gas we are using by turning out the lights, turning down the water heater and running the taps less. Less waste = lower bill.
-All "extras" like restaurant, spending money for JR and I, vacations, entertainment etc. will come from what I earn from my home business. It is our slush fund which will also help pay down our debt faster
-Tax Return goes straight onto our debt plus anything we can take from our insurance payout will also go directly on it. Our basement flooded in September. That put us behind as we were replacing things and sending in the bills to the insurance company but we still have yet to see a penny back.
-Emergency found set up for 5% of our income, regular savings is 10% plus as we've always done donations will remain at 10% minimum of our income as well.

I feel empowered. I am excited. It is spurring me on to keep organising things.

I feel peace.

If you have any cost cutting ideas please post them! Let's spur one another on to no longer be slaves to our debt and live with financial freedom.