A few of my friends are in this all too common situation.
The budget is really tight, and they think they better start working outside the home. Or, in some cases, their husband tells them they better start working!
For some, it's necessary. But before you take that plunge, have you really thought it through?
I think many people don't realize how much working actually costs. If you're making $15/hour, perhaps that job is worth it. But when you factor in all the costs, like a second car, work clothes, eating take out because you have less time to cook, let alone child care, that $15/hour can quickly become $4.50/hour. Then is it still worth it?
It may be, but perhaps it no longer is. Don't make any decisions until you really count the cost!
Today's podcast walks you through this basic financial conundrum, to better equip you to make an informed choice for your family. (UPDATE: Sorry, it's no longer available!)
My book, To Love, Honor and Vacuum, dedicates a whole chapter to this question, with handy charts that can help you figure it out. You have a chance to win that tomorrow in our awesome blog relaunch party! Just fill out the entry form for your chance to win!
Smoochiefrog is blogging about budgeting. Ugh, you say.
I don't see budgets like that. I think of them more like a dare. "I dare you to stay within this budget for food this month!". If I'm dared, I'll make it. If I just have good intentions, I won't.
She has some great links to Dave Ramsey's budget pages, and if you've never sat down and figured out how much you're actually spending, and how much you should spend, you really should. It can mean the difference between falling further and further behind every year and actually accumulating some net worth.
Anyway, I was thinking about what I find difficult about budgets. It's not actually the monthly amounts, like groceries. It's the yearly amounts, like clothing. If I have $600 a year for clothes, for instance, and it's only February, it's difficult. I don't find it practical to divide that $600 into 12, and make it $50 a month, because realistically you don't go shopping for clothes 12 times. You go maybe 3 times, and spend a lot more than $50 each time.
What do you find hard about budgets? Can you stick to them? April is beginning tomorrow so it's a great time to start! How much will you spend this month on groceries, eating out, entertainment, health & beauty, etc.?
I'm going to write my numbers here for posterity, and then at the end of April I'll report.
Food: $600 Eating out: $300 (I know that's way too much, but this is our weakness, and I'm trying to be realistic. This includes all those coffees, etc. that my husband buys) Entertainment: $45 Health & Beauty: $80 (I'm due for a haircut, as is one of my daughters, and we're low on shampoo and other stuff.)
About Me: I'm a Christian author of a bunch of books, and a frequent speaker to women's groups and marriage conferences. Best of all, I love homeschooling my daughters, Rebecca and Katie. And I love to knit. Preferably simultaneously.
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