I took the week off to enjoy friends and family, a very important gift I treasure during the holidays! Even in the chaos and sometimes dysfunction of family I pray for God’s love to be revealed in me and around those I encounter. I hope you felt the spirit of the season too.
As we begin to think of the New Year many of us will establish a personal resolution or goal. It might be centered around wellness such as to stop smoking, lose weight, or begin an exercise routine or perhaps you’re considering improvements such as organization, debt reduction, or establishing a daily time of devotion. My word of encouragement is this, remember IMPROVEMENT over perfection!!
Think of small incremental changes that will help you achieve your goal(s). Seek to challenge yourself but not overwhelm yourself. Establish a written goal that motivates you, it should be written with clear direction and purpose, this will help you with focus and decision making.
I am going to provide a sample goal and a target budget that I find very helpful to keep balance in my life. As a frugal gal I want to enjoy life but be responsible at the same time.
By December 31st of 2013 I will have a personal financial statement reflecting the following spending goals:
Housing expenses will not exceed more than 35% of my net income (this is mortgage/rent, utilities, insurance, taxes)
Transportation will be no more than 20% and this includes car payments, insurance, license fees, gas and maintenance
Debt will not exceed 15% of my income (this is credit cards, personal loans, medical debts and student loans)
I will tithe 10% of my income and I will save 10% of my income
I will spend no more than 10% on other expenses such as food, clothing, entertainment, etc
Recognize you have control over saving and spending, much like eating and weight loss! It must begin with an inventory and personal responsibility over the choices we have made and will make in the future. Budgeting doesn’t mean having less, it means having a plan and working the plan. I hope this has inspired you to consider what your 2013 goals will be.
Please feel free to send me suggestions or questions and I will be happy to reply. God’s blessings to you and yours!