Thursday, July 23, 2009

David Ramsey Baby Step One and Grocery/ Gas budget

One more way I am saving is ... When we moved here to Texas we had to find a bank. The bank that was closest was a Bank of America. They offer a checking account that puts the change from debit card payments into a savings account. Yes it is just pennies but pennies do add up.
Every time I use my debit card for groceries, eating out or what ever the change goes into my savings account.

I have been listening to Dave Ramsey on the radio. His first baby step is to have a thousand dollars in the bank. He also suggest budgeting with envelopes. One envelope for groceries, one for gas and so on. This checking account is my grocery / food envelope. When I get my pay check I deposit it into this checking account. The part that is to pay bills is transferred to my husbands checking account and my food money is left here. I take half of it the first week and the second half the next week to spend on our food and eating out. Our Gas money goes into an envelope that I carry in my purse. For the first time in my life I am budgeting . No more using credit cards for what ever I want. May not be as exciting as before, but feels good to be living within a budget , and I sleep better that is for sure. So far we do not have a thousand dollars in the bank but I am working on it. My plan is to work more hours if possible and try to sell some of the the things I have here that are just collecting dust.
Would love to hear from any Dave Ramsey fans and how you budget

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