The majority of people tuned out when they saw the word “budget” in the title. Bo-ring. Why can’t we talk about more fun stuff like relationships?
But others are desperate. Your finances are getting worse and worse as your debt continues to climb, so you’re really interested in seeing how other singles are dealing with their own finances. What tools are people using? Do those work for them?
SingleRoots Writers Say…
For wise counsel, we asked some of our SingleRoots alumni writers to weigh in on the matter. Here’s what they had to say:
“Tools like Microsoft Excel have many free budget templates that take the guesswork out of getting started. They do all the math for you! All you need to do is plug in your incomes and expenses. Two things to remember though: be consistent and be honest.”
::Jacqueline Otto Isaacs, author of The Single Most Important Thing Singles Can Do for Their Careers
“There are a lot of great informational articles online to help you get a footing, and even some nice free tools to help you build your budget (though these can be overwhelming). What I found it boils down to, though, is finding out how much your paychecks are after taxes or anything else withheld. For example, my insurance is through work, so it’s deducted before it comes into my account and therefore is not in my budget. Then find out your essential costs–rent, utilities, credit/loan/debt payments, food, etc. These are the things that you absolutely can’t do without. After that you have room for elective spending–eating out, memberships, spending money. Things that, if it comes to it, you can do without. That will give you a basic, simple budget. Mine was built by hand on a Google spreadsheet by listing net income per pay period at the top, the which expenses come from which check. Each payday I take ten minutes to sit down, pay those bills and make sure everything is set for the next two weeks. Worth the time setting up for sure.”
::Ben Morgan, author of Learning to Keep Moving While I Wait
“After trying and failing complicated Excel spreadsheets, my wife and I recently invested $60 at YNAB.com (You Need a Budget) and love it. Whatever you do, just start now. It’s one of my biggest regrets from my single days that I didn’t have any money going into marriage and I only had myself to blame.”
::W. Brandon Howard, author of Let’s Talk About Porn
“If there is one thing I’d do different in my 20 years of singleness it would be money. Use some sort of budgeting tool. I use the EveryDollar App now. Have a plan: What are you goals? Someone besides you should know your plans and budget. Someone should know your all of your financial situation.”
::Justin Campbell, author of Jesus and the Suffering Single
Explore the Topic Further…
For further discussion on committing to a budget, check out these posts:
The Best Gift You Can Give Your Future Spouse – “As a single person, I read tons of books on preparing myself spiritually, emotionally and physically for marriage, but not many resources told me all the benefits of preparing myself financially.”
The Day My Debt Caught Up to Me – “There are times when I still struggle with my finances, but the Lord is showing me daily how this is yet another lesson in trust for me. Some days I still get the sinking feeling in the pit of my stomach and I feel on the verge of panic that I won’t have enough to get by.”
YNAB Review :: The Not-So-Sexy First Step to Get Your Finances in Order – “What is the first step in getting your financial ‘house’ in order? I hate to even say it because you’ll stop reading this article. The first step is the B-word — budget. I know, I know…you’ve heard the ‘B’ word a million times, and you’re simply not going to do it.”
All About the Benjamins :: Making ‘Em, Saving ‘Em, and Spending ‘Em – “We thought it might be helpful for y’all to know personal finance bloggers and experts out there who are dropping pearls of wisdom to help you get a firm handle on your money situation—and they’re doing so from a Christian perspective.”
