Financial Plan, Parte Dos

Afternoon,

I’ve tackled one of the goals set forth in my last post: creation of a budget.

This will probably change, as the month of May I won’t be in school! Woop! I will be living in a house for intentional Christian community located about a mile off of campus, and will be paying rent and purchasing all my own food. I have to talk to the parentals about finances and see if I’m going to be completely fiscally independent this summer, or if they’ll be helping out and in what capacity.

This budget makes more sense for the school year, so I’ll have to see in what ways to modify it this summer when I won’t be on any type of meal plan.

I think this is realistic for a month when I’m in school. After talking to my parents, I’ll be changing this! After looking through my spending habits, I decided that $150/ month is realistic. Out of this, food accounts for about the most: $65 between restaurants, coffee, and groceries. I allotted $40 for my compassion international young woman, Archana. Miscellaneous refers to exactly that: toiletries, clothing, books, gifts, etc.

This budget makes sense for me. I’m not out on my own yet–I’m at school with a meal plan, no rent, parents who pay for insurance and gas on my car. I am very blessed in this sense. Practicing making a budget now, however, while I have limited expenses and limited income will help make it simpler when I do have that control.

I’ll let you know about the evolution of the budget, as I’m sure it will for May/June-August.

Next on my list? The other goal from last time . . . investment options!

Do your budgets ever vary? 

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Clearing Up the Financial Jumble

Confession: I’m not good with money.

I don’t feel like I have a good grasp of money or finances, or an appropriate attitude towards them. Budgeting is a skill I’ve never learned; when I asked my parents if they budget and why it wasn’t transparent to us kids my dad told me that his “budget is to always make more than I spent.” I’ve spent several years trying to figure out what a healthy attitude towards money is, and I haven’t reached it. This is further complicated (though not badly so) from my perception that everything I have really does not belong to me, and that Jesus talks very specifically about money. Some of his teachings (or my reading of the teachings) have me undulating between seeing money as a useful tool, and wanting to simply give it all away and live meagerly.

“We do need to be born again, since Jesus said that to a guy named Nicodemus. But if you tell me I have to be born again to enter the Kingdom of God, I can tell you that you have to sell everything you have and give it to the poor, because Jesus said that to one guy, too. But I guess that’s why God invented highlighers, so we can highlight the parts we like and ignore the rest.”  Shane Claiborne, The Irresistible Revolution: Living as an Ordinary Radical. 

“No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.” Luke 16:13 

I also spent time last semester reading:

The discussion group that accompanied the book was helpful, but I feel like I didn’t really change. Ultimately, the conclusion we all came to was that in intentional community, our attitudes towards money would change. If we love people and not ideas, and people are in need, we will help those people with the resources we have.

But here’s my problem: I’m not involved in community with a range of people in different socio-economic statuses. My friends are all pretty similar to myself, and spending money goes hand in hand with our social outings. Hopefully this summer working with a ministry in our downtown will help change some of this. I have a lot to learn about money, its role, and my handling of it. Because I’m in school without a job, I sometimes feel like I don’t control the money I have, but I do.

This week’s Pit Stop (which is occurring on a Tuesday) involves a re-evaluation of my finances, the creation of a budget, and decisions about what and where I will spend. I typically don’t even look at my balances in different accounts, and I opened an investment account months ago and have never used it. Now, let me know:

Do you budget? 

Do you ever struggle about the role of money in your life?