Sunday, October 14, 2007

My finances

I just ran across a Christian website of someone trying to get of debt and live debt free. I shared my expenses and income and wanted to share with you.
With God all things are possible!!!!!!!!!

A bit about my finances:
I am self employed, I run a daycare out of my home to avoid daycare costs myself. I drive a 1992 Dodge Shadow that was $500. I save for what I want. I follow many of Mary Hunt's ideas, and I work in my daycare Mon.-Fri. from 6:50am-5:30pm.(plus after hours cleaning and next day prep) Now I just moved and my rent was $1240, I paid this for three years with 4 or 5 daycare kids, but now I am living in my grandmother's house (a blessing from God). I also work a part time job Sat. nights for spending money
my budget:

child support $544
daycare children (3) $1530
food for daycare $200
total $2274.00

tithe to my church $230.00
savings for emergencies $200.00
offering $200.00
rent $500.00
car insurance $100.00
gas for car $120.00
boys allowance $52.00
freedom account $100.00 (for yearly expenses, like car registration, glasses, AAA, oil changes, etc)
gas & electric bills $180.00
phone & online $70.00
business insurance $30.00
business supplies $50.00
food $250.00 (for whole house and daycare breakfast, lunch, & snacks)
non groceries $20.00
spending $100.00
Wed. night dinners $32.00
someone to get Josh $40.00
total $2274.00

Sat. night I work babysitting. I make $55, I tithe and use for spending (like school fundraisers, birthday and baby gifts, snack at school money,etc) (I only work 2 times a month)
now my budget does not include clothes (I ask at birthdays and holidays), which growing kids need, or vacations (we don't go), or alot for food $250 a month does not go too far with 3 people in home, and 3 daycare kids. Also I do not have a car repair fund, but if have to will use my savings. I have $2500 in savings for emergencies, and $1200 in my freedom account (one year's worth of stuff.) I also have $500 saved for a dryer which we do not have. I am now saving to repaint my house in the spring and for car repairs (savings for these will resume after Christmas.) For Christmas my boys will get three gifts each and we will make others gifts. We will not spend more than $300, including cards, cookies, etc, which will come from freedom account. This does not include any savings for the future (like college & retirement), this will have to come later.

Also I pay taxes but with my refund, so I still get a refund (because of head of household and earned income credit). I will get about $3300, this will go towards:
tithe $330
offering $200 (star 99.1 and our sponser child family gift)
life insurance $400
great adventure season passes $300
summer and possible vacation $2000 (I work less in summer to be here more for my kids)
ALL OF THIS IS POSSIBLE BECAUSE OF GOD. He has blessed us so much!!!

It has taken me many years to get to this. When I was in my apartment and paying $1240 a month in rent I was not saving or giving much offering, but I have always tithed (since shortly after becoming a Christian) because it does not belong to me, it all belongs to GOD. Who am I to get $100 from Him and keep it all when all He askes for is $10 back.

If you want to discuss fianances or have me pray about yours I will be happy to do so, send me an email or comment. -Becky R in NJ