Budget and Debt

January Budget Challenge

One of the things my husband and I are committing to in 2021 is paying off debt and getting our budget under control. We want to pay off all but our student loans and our house while living beneath our means and coming in under budget every month. It is a huge goal for us because we tend to go over budget every month. We are a work in progress FOR SURE. God used 2020 and all the uncertainty and craziness that came with it to really open our eyes and convict our hearts on how we view and use God’s money. Our word for the year is HABITS and we are going to be focusing on different personal habits and different financial and budget goals every month.

January always feels like such a clean slate. We get to start over with a new year. I feel goals and habits are better for me than resolutions as resolutions always ending up failing on my end. So our financial and budget goal for January is a SPENDING FREEZE! You can google spending freeze and get a ton of hits. Go ahead, I’ll wait………………. A lot, right? Some are really strict and have you only spending $25 a week. I have tried those and failed. I live in California and have 5 kids. $25 a week just won’t cut it.

This spending freeze will be a bit more gentle. No hard and fast rules on how much you can or can’t spend. You already know where you are spending too much and the difference between a want and a need. Our family is not setting an allowable amount of money we can spend. Instead we are focusing on only buying what we need. So when I go grocery shopping I will be skipping the yummy bottles of kombucha and the on sale dark chocolate bars I love to snack on after the kids go to bed. I won’t be buying any new makeup or clothes and we won’t be eating out or ordering in. Groceries will be the basics and I will cook from our freezer and pantry. No new books, toys, games or movies. I think we will all be surprised by how much God already provides and how little extra we actually need. YES to what we need and NO to what we don’t.

I am a super visual person so I made a little tracker to keep me going during this challenge. Download it here if you are visual and need that extra encouragement. Don’t judge- I have zero creativity skill.

Over the month of January I will be sharing Facebook and Instagram updates with the #Janbudgetchallenge. I will share grocery hauls, struggles, fails and wins that happen for us within this challenge. I am so pumped to actually do this and make it through the whole challenge, are you?!

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