Balancing Our Blessings - Step #4

For those following the finance steps - and not wanting to go all the way back to the early posts of this blog...

Balancing Our Blessings - CCC #4 How Does it Shake Out?

Before I go any further with the finance part, I want to be sure everyone understands one thing:

While the basic steps may be the same for everyone, everyone’s circumstances are unique.  That means there will be a ‘uniqueness’ to your approach on some steps.  Just as everyone’s ‘command center’ will look different – yours may be an elaborate set up, while mine is in a little basket – the point is to make the steps work for YOU!

Okay, now back to the leg work.  I completed step #3 and now know what I have in the bank.  WOW!  Entering all of the receipts can be a challenge at times, but VERY eye opening!  Did you notice where a lot of your money went?  Don’t be alarmed – we are still a work in progress.

Moving on along…

Step #4 – How does it shake out?

Take the amount you wrote down from your account balance and subtract out what you NEED until payday for groceries, gas, diapers, etc. Notice I said NEED! This new balance is what you have to work with for this next step. 

Look at the amount.  Is it as much, or more, than the highlighted amounts from Step #2? If so, stop and right out the checks to pay all of those amounts – you are in a good place! Now wait for the rest of us!

If the amount you came up with is NOT as much or more than the highlighted amounts from Step #2, you have a bit of work to do here. Take a look at the items highlighted. Are there items that can be extended? For example, can you call your electric company and get an extension or work out a payment plan? Once you have worked out arrangements with those that you can, re-examine the shake out. If you are now good, write out the checks and hang out for a minute. If you still don’t shake out even or ahead, you will have to make some tough choices. Decide your priorities. If something can’t be paid, what can you live without? Personally, I would let my credit card go unpaid before I lost my electricity. Make those hard decisions and pay what you can NOW.

You still have enough money left for your necessities until pay day, right?! Now, take a deep breath and release. You just completed the yucky part of getting in balance!