work & finances

A budget is a great tool for helping you get your spending on track to reach your financial goals.  If we’re being honest, most of us are probably living outside of our means, especially in these difficult financial times. Learning how to budget effectively is important, whatever season of life you are in,  whether you are a single individual or creating a sustainable budget for your family.  We all have financial needs and goals!  By creating a budget, we are also being good stewards of the resources we have been given and making sure that our money is being used in the best way possible.   different budgeting methods. There are lots of options when it comes to budgeting methods.  Some of the most popular budgeting strategies include the zero-based budget, the 50/20/30 budget, the envelope method, and the pay-yourself-first method. The zero-based budget is essentially taking a certain period, generally a month, and allocating all of your resources down to zero.  Meaning that each month, you are starting from a “zero” base.  This method is unique because it takes into account each month individually, allowing you to reassess your needs regularly.  Each month can look a little different, depending on the resources coming in and varied spending needs. The 50/20/30 method is also a very popular budgeting strategy.  First, you take 50% of your net income and apply it to your needs.  The next 30% is applied toward your wants.  Finally, the last 20% of your net income is applied towards your savings.  Similarly, the 60/30/10 budgeting method has also recently become popular.  Essentially, it is the same principle, with 60% going to needs, 30% going to wants, and 10% going towards savings. A really simple budgeting style is the envelope method.  This method relies on using a cash system.  I don’t know about you, but I find it much harder to spend cash versus credit!  Because of that, the envelope method can be great for those trying to curb impulse spending. Likewise, some people might find that using the envelope method is great for a short period, especially when saving for something in particular, to bolster your savings account, or when planning a trip.  For this method, you withdraw a sum of cash each month and divide it into envelopes based on your personal spending needs.  Categories can include groceries, gas, bills, etc. Finally, the pay-yourself-first method is just what it sounds like.  You treat saving money as a “bill,” choosing first to pay yourself before allocating the rest of your funds to your needs and wants.  This method is simple and allows you to focus on prioritizing your savings. Below are eight steps to create a budget strategy that works for you.   understand your spending before creating your budget. Before creating a monthly budget, it is first important to understand where your money is currently going.  In the age of credit cards, DoorDash, and online shopping, most of us are probably spending more than we realize! To get a clear idea of your current spending habits, review several months of your statements.  This will help you get a good average as to what you spend in each category, later helping you determine your budgeting needs.  Seeing these numbers in black and white can be a shock, but take a deep breath, it’s going to be okay.  Be proud that you are taking those initial steps to take back control of your spending!   Also, if you have a partner, it is important to be on the same page.  By doing this task together, you can both hold each other accountable to staying on track with your financial goals.   CLICK HERE TO GET YOUR FREE FINANCIAL PLANNER! calculate your net monthly income. Once you have a firm grasp on your spending habits, it’s time to see how much money is coming in each month.  This number is your “net income,” or the money you receive after taxes are applied.   If you are a W-2 employee and receive a pay stub, this is your net pay for that period.  Let’s say, for example, that you receive a weekly pay stub.  To find out what you take home each month, take the net amount earned each week and multiply by 52 weeks in a year.  Then, divide the number by 12 to see how much your net income is each month. If you are not paid with a W-2, figuring out your monthly net income can be a little tricky.  In this case, you can look back on several months of bank statements and get an estimate of what you earn each month.  If your monthly income varies greatly, you can also take into account whatever you “anticipate” you will earn for a particular month.  It’s important to err on the side of caution and always underestimate your net income to avoid any surprises.  Especially with a varied monthly income, reviewing your budget regularly will be particularly important.  Finally, if you do not receive a W-2, remember to always set aside 30-35% of your income to avoid a tax bill surprise at the end of the year!   itemize your expenses. With a net income in hand, you can start to itemize your expenses into different categories.  Your “needs” fall under your “fixed” expenses.  These include things like mortgage, rent, and other bills.  I also like to include tithing and savings in the “fixed” category, treating them like another bill each month.  Generally, fixed expenses are the same amount each month and occur with the same frequency, so they are easy to place within your budget.   I find it particularly helpful to have a calendar bill tracker.  This helps me see exactly what bills need to be paid each particular week.  Since each month varies, I am better able to anticipate what is due and avoid any surprises.  Also, this can be a great tool for making sure that your bills are spread throughout the month in a way

Working from home is not for the faint of heart, and contrary to popular belief, it is not easy!  There is a constant juggle that exists for mothers, whether you are a stay-at-home mom or a mom who works outside of the home.  When you mix the two, you add a new layer of difficulty.  But when done correctly, it is the biggest blessing.  I love that I can be there for my kids and raise them, while also helping to bring additional income for my family.  It is that Proverbs 31 woman goal that many Christian moms are ascribing to! To be successful as a work-from-home mom, you need to have a certain mindset and systems in place to help you manage your home and achieve your goals.  Below are 16 secrets to help you maximize your time and responsibilities.   work from home secret #1: Wake up before your kids We have all heard this tip before.  It seems so basic and insignificant, but it can make a world of difference.  Now, this doesn’t mean waking up hours before your kids; even a few minutes to yourself is great.  This “alone” time helps set the tone for your day.  It’s your few moments to get that right mentality in place to have a productive and successful day.  What you do during this time doesn’t matter.  Start your morning routine, sit in absolute silence, eat breakfast alone, or have your ritual morning drink.  Whatever it is, just do something that makes you feel good, boosts your mood, and gets those happy vibes going.   Work From home secret #2: have a solid morning routine Again, we’ve all heard this one before.  We aren’t trying to reinvent the wheel here!  We are just trying to have common sense systems and schedules in place to help your day run more smoothly.  Because of this, having a solid morning routine is key.   Maybe you have a good morning routine in place, and if so, great!  But maybe you have tried implementing a morning routine in the past without much success.  The key is to not complicate things and keep your morning routine short and sweet.  For example, have two or three non-negotiables.  Repeating these tasks every single day for some time will cement the pattern in your brain, and before you know it, you have a good routine in place.   work from home Secret #3: set boundaries – for yourself & for your kids. Boundaries are super important when it comes to working from home.   One simple thing you can do is to have clearly defined working hours.  Having a set start and stop time for your workday helps keep those workaholic tendencies at bay.   Visual cues are great for your kids to understand that you are in “work mode.”  For example, when your kids see you sitting down at the computer or on the phone, they know that mom is off-limits and working.  Also, having a dedicated workspace cues your children to when you are working.  Of course, kids are kids, and they will interrupt you.  When that happens, gently remind your children that this is your working time, and you will address them in an “x” amount of time.   It’s also important to make sure you schedule breaks throughout the day.  Take a break for lunch and maybe even indulge in some vitamin D time with your kids. work from home secret #4: take advantage of naps or when your kids are busy. Those blocks of time when our kids are napping or busy with other activities are built-in work opportunities.  Learning how to optimize this time and focusing on those tasks that require your complete concentration will help you increase your productivity tenfold.  Instead of using this time to catch up on household tasks, use it for work responsibilities. work from home secret #5: Teach independent play. As a mother to a “Velcro” child of my own, I know what it feels like to have a child that requires more of your time and attention.  We savor those moments because we know that they won’t last forever.  However, it is also important to teach your child how to entertain themselves for periods as well.  This will give you time to get some of those tasks off your to-do list.   The key is to find and choose activities that are appropriate for your child’s age and skills.  Independent play is not just for older children, but rather short spurts of Independent play are valuable from the time your child is a baby.  Independent play teaches your child to be creative, learn problem-solving skills, and focus on a specific task or problem.   When your child is very young, don’t expect these independent play times to last very long, but as your child grows, these times will get longer and enable you to have more time for other tasks.   work from home secret #6: have a schedule, but be flexible. I find that having a general schedule is important to the flow of my day as a work-from-home mom.  This was especially true when my children were younger.  Kids thrive when they have a good idea of what is next up on the agenda. As my children have grown, a schedule is still important for us.  My kids know that after they wake up, have some movement, and eat breakfast, it is time for them to start their schoolwork.  They know what activities are on what days, allowing them to better manage their time and school responsibilities. Of course, one of the beautiful things about being home with your kids is the flexibility that affords you should plans change.  Allow for flexibility in your schedule because, inevitably, there will be those sick days, spontaneous field trips, and unexpected emergencies.   work from home secret #7: get out of your pajamas. I know the allure of not having to get dressed up and staying in your pajamas all day.  Believe