I am a student of Dave Ramsey’s Financial Peace Univerity and on a journey to become debt free. By budgeting monthly and tracking my expenses I’m learning how to become debt free and live life by cash. Budgeting for beginners is mostly what you’ll find in this video so please watch and sign up to budget with me and complete a zero-based budget with me next month.
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WATCH MY FINANCIAL PEACE JOURNEY FROM THE BEGINNING
My Debt Story: How I Fell Back into $208,453.27 Debt Part 1
My Money Story: How I Fell Back into $208,453.27 Debt Part 2
First Budget on My Debt Free Journey
Disclaimer: Honesty is awesome, so I share numbers and dollars in this post. I trust you’ll honor my honesty. Just so we’re clear, everything written here is based on my personal experiences + opinions. Not everything I say here will work for you, but I have faith that you’ll take the information presented and apply some of it to your own finances in a new and creative way.
my channel my name is Stacy flowers and I am a student of Dave's Ramsey's Financial Peace University in on a journeys have become a hundred percent debt-free my starting debt is two hundred and eight thousand four hundred and fifty three dollars and twenty seven cents I currently work part time earning anywhere between eight hundred and one thousand dollars and I am on baby step number one to save five hundred dollars in today's video I'm going to be going over a detailed a budget check in for my February 2018 budget so if you are interested in that please keep watching so the first thing that I want to do is pull up a calculator so that we can have that for our numbers and then I want to talk a little bit about the things that have impacted my budget so far so the number one thing that's having the biggest impact on my budget is income and so I started a journal entry page here and I just want to jot down my income to date so as mentioned in the original budget video my first paycheck plus some money that I'm counting as income was six hundred and eighty nine dollars and let's get that change I believe 86 cents yes in 86 cents on the 7th of February I also received a payment from my youtube channel for three hundred and twenty seven dollars and twenty one cents and then on the 8th of February I also received a generous donation of $100 and I received that donation from DME brown on YouTube and I just wanted to publicly thank you for that very generous donation his or her comment was hi Stacy I enjoy your budgeting videos very much can you list your PayPal me link in the description below your video for anyone who would like to contribute to your financial freedom journey you're such a positive attitude to your current financial situation I would like to help with the small boost and I just want to say thank you thank you thank you I appreciate that I appreciate you supporting my work I appreciate you watching my videos I appreciate you commenting and then also to the community that helped me to earn three hundred and twenty seven dollars and 21 cents it was all of you all collectively that made that happen so I deeply deeply appreciate that because it certainly has helped because I am on the 15th of this month and my turtle earnings so far for February six eighty nine point eighty six plus three twenty seven point twenty one plus one hundred is 111 one thousand sees me one hundred one thousand one hundred and seventeen dollars and seven cents so that is the amount of income that I am working with so far and we still have fifteen days left in this month so I'm super excited about where the month of February is going so now what I want to do is go down my budget and show you exactly what I've paid so far and where these dollars and cents have been going based on my original budget that I did at the beginning of the month and I will link that video so you can see my tides were eighty dollars based on my take-home pay for my part-time job this number will increase because I would like I am going to pay tithes off of the three 2721 earnings and when I paid tithes off that that will be an additional $32 but neither of these payments have come out yet because of the place where I allocated my tide payment the big expense that has come out for the month of February so far has been the five hundred and twenty five dollars for my rent I've also paid the thirty five dollars and 82 cents for my phone bill and I paid the hundred dollars towards my CTA Pass I have also paid the my groceries which I had a budget of $35 and I want to see how much I actually spent for my food budget and the pages that you see me flipping through those are my allocated spending pages but the reason why I'm looking at my cash flow is because it has a budgeted amount and a spent amount and I wanted to write it on this page so 3511 I've spent of my grocery budget which means I'm 11 cents over my grocery budget but still doing pretty good I'm pretty I'm pretty proud of that number based on my original cash flow plan I've paid my rent I paid my cell phone bill I paid transportation and I paid a little bit of groceries and so now I want to get into where I anticipate spending the 320 or how I plan on spending the 327 that I've earned from google adsense and the hundred dollar donation so if you're looking at my allocated spending page you can see that in my next pay period that's when I intend to pay my tithes and I just in this third category I created a category for the payment of 327 21 and so what I have coming out initially is the thirty two dollars and seventy cents and the missed payment here there's not a line for taxes but I wanted to make sure that I paid my taxes on the income that I have coming in because I will be taxed and taxes are currently passed new taxes are currently in my debt snowball so I don't want to fall behind and my 2018 taxes Oh after I take out my tithe and after I take out my 30% tax what I have left over to spend is one hundred and ninety six dollars and fourteen cents and today I'm actually going to make that payment onto my rent because if you remember in my previous budget video I learned that I am NOT current on my rent I'm actually always paying my rent during the month that I'm renting and that is the concept of being current and I want to be current so one of my primary goals was to do that and with this extra 196 14 plus the money that I anticipate putting when I get paid tomorrow on to my rant I will be much closer to my goal so let's see actually a little number so 525 minus 225 minus 196 14 that would mean that I'm a hundred dollars and 686 cents away from my total rent payment and I'm very excited about that because that I mean that really just allows me to be able to get in front of and as comment or survivor fan 30 to get out of the red so I anticipate putting the entire 196 14 towards my rent payment the hundred dollars generous donation that I received from the M Brown the way that that is allocated is I don't have anything for that hundred dollars coming out and my knee-jerk reaction was to just put that hundred dollars towards my rent and then I would only be six dollars and 86 cents over but the reality of my situation was that so that money was automatically paid through my paypal account and what I didn't know is that I had expenses coming through my PayPal account because again I'm trying to one I'm trying to have all my expenses come from one place so I'm very clear on how much money is going out but two I just didn't realize the expenses that I have so almost as soon as that money hit my PayPal account payments were going out that I was just not expecting so I'm gonna clear that up this month and that's another reason why I'm doing the budget check-in because I really now won't be overwhelmed at the end of the month trying to shift payments around to a card and blah blah blah I'll be able to put it exactly where it is so what actually came out of the hundred dollars that I received as a donation so far is fifteen dollars automatically was withdrawn for my paypal bill and I'm just going to check to see if I didn't know that I was on automatic debit there because I always call in to make the payment but maybe it's automatic maybe it's set up automatic debit if I have a balance in my PayPal account I don't know but I'm gonna follow up with that my podcasting fee was something that I forgot to consider in my earnest to get out of the red in February when I was talking about my budget so that fifteen dollars definitely came out and it's interesting because survivor fan 32 was watching the video and she was the one who pointed out that I forgot that particular payment and then two other expenses that really blew me away were and and well one didn't blow me away because survivor fan pointed it out she pointed out that I forgot to include my son's podcasting are not podcasting my son's iTunes subscription so that 1096 came out but I noticed that another 1096 came out and I was like livid because I'm like I don't if I didn't have this money what were you guys gonna do and the truth of the matter is is I realize is that when the money is not in my PayPal account these items just get declined and I think in I think I was mistaken these subscriptions for being off because the payments just weren't going through so I definitely thought that there was only one subscription for the iTunes but clearly there was too so I am I tried to dispute this charge but if I couldn't Apple was like not having it and they were like we can do this for next month so I was like all right fine so next month that will be taken off so unfortunately of the hundred are fortunately because I'm grateful but of the hundred dollars that was donated 15 – 15 – 10 69 oops $100 – 15 – 15 – ten point sixty nine – ten point 69 there's 48 dollars and sixty two cents leftover of which I'm going to put towards my rent and and it so yeah so that's that's where the budget is right now so that 48 60 – I'm going to put towards my rent leaving my overall leftover rent that I need to cover as 57 dollars and 38 cents so I wanted to do a budget check-in because I want you guys to be able to sooner see the difference between what I'm planning and how things are actually happening but I also want you guys to be able to see how I'm able to reconcile things and when I say reconcile I mean that like I'm still struggling a little bit with forgetting things that are coming out and my earnest to get things right I'm still of the mind that certain subscriptions are cut off when they are clearly active and so just different things like that but it is definitely getting better and it is getting better with your help in this community both monetarily because the Umbra was very generous but also just from a community perspective of commenting and watching and so I just want to say I deeply appreciate your support I am well on my way I am less than 50 dollars away from getting out of the red and I am super excited and super just humbled by the support and I'm just I'm just so grateful that you guys are supporting this journey and I hope that while you are watching this that you are beginning to transform your financial blueprint so that when it comes that time it'll be more than just one of us screaming I'm debt free so yeah that is it my midweek check-in if you have any questions please ask them down below I will do my budget report card on about February 27th February 28th and that's where you will get all the final numbers to see exactly where every dime went so thank you so much for watching I look forward to talking to you very soon [Applause]