Where does all my money go?

In college, I learned about Dave Ramsey’s debt-free program. I followed it to the tee and paid off $24,786.16.

I believe so much in living a debt-free lifestyle. Dave Ramsey is one of those radical guys whose concepts you either love or disapprove of. Many lean towards the latter because of his disapproval of crypto. More so, many people don't agree with his methods, because they believe there is a benefit to having some debt, especially if it is a calculated risk that makes them more money than it costs them.

I'm not here to argue one way or another. I am writing you today because, a few weeks ago, I woke up thinking, "where did all my money go?"

Obviously, since paying off all my student loan, car loan, and saving for my emergencies, I am no stranger to budgets.

For those of you who are not familiar with Dave Ramsey’s Total Money Make-Over book and zero budget plan, click HERE for more information. Basically, the plan is accounting for every penny. You don’t question where your money goes because you assign it a place. You take all the income, you list all the expenses, and then budget the rest. IF you overspend in one area, you have to readjust. It takes a couple of months to adjust to the plan and dealing with cash only like he recommends, but over time it is second nature.

Over time you either stick to it or allow it to be more of a guide than set in stone. Unfortunately, this has led to my question listed above.

When reviewing the numbers, I noticed my entertainment budget has grown a little too much. While it is encouraged to spend, it isn’t the best feeling when you are behind on your financial goals. I was looking at my year-to-date income compared to my year-to-date saving goal and came to the conclusion it was time.

Remembering the why and the long term goals.

The plan is to buy a house next August and I've been following @scaredycatguide’s blog for guidance on how to buy right.

Check out his blog and read his book called, ScaredyCatGuide: Investing in Rental Properties!

You can buy it by clicking HERE
His blog and book are all about passive income and making your money work for you. Rumor has it, he is working on another book about investing in crypto. Help me encourage him to do so by supporting spamming checking out his blog @scaredycatguide. This kid is all about investing and making your money work for you.

I haven't decided if the house I want to buy is for me to live in or rent out. Let’s start by getting back on track to saving!

The game plan

Every year, I accomplish paying off or purchasing a major item by August. So, why not buy in August 2018? This is my recommitting myself to setting up a budget and making a commitment to stick to it.

How do you budget your money? Do you follow financial advisors? What are your goals financially?

• Thanks again for the graphics @malos10 & @doctorcrypto
  
  
  

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