Monday, May 19, 2014

DEBT FREE JOURNEY UPDATES: EMERGENCY FUND, SAVINGS CHALLENGE, BUDGET STRATEGIES AND TITHING

I have my eyes fixed on the prize of becoming debt free; but I realize this is not a simple task the more I try to stay on course. This is a journey that requires the following: discipline, encouragement, spiritual guidance, faith, determination, repetition, and maybe more. There have been so many times where my emotions would take over and I would think, "this journey is impossible" and "I am stuck here forever." Recently, I had to tap a lot into of my spirituality to keep me focused on what I said I am going to do. I have been listening to a lot of spiritual and motivational speakers to keep my spirits high through this adversity. I discovered my worse enemy throughout it all was not my debt, but instead my negative thinking. I decided I will not live my life like this anymore. I have been listening to a lot of  podcasts by Myleik Teele and Joyce Meyer among many others to mentally inject myself with positive thoughts. These women have been such an inspiration and the driving force to my faith. I listened to Joyce Meyer's podcast, Quitting is Not an Option , where she discussed the challenge of never giving up. Meyer suggests that we should never quit and that we should be a prisoner of hope. I often reference her quote and it helps me to stay positive about my goals.

I recently applied and interviewed for a new position within Marriott, my current employer. I had to take a break from blogging and vlogging to really prepare for this interview. My interviewing skills have definitely improved from the last time I interviewed. I watched a series of YouTube interviewing technique videos and studied mock interview questions. I haven't heard anything as of yet, but I feel really good about it. I am still saving up my emergency fund. I have been using the 52 week Savings Challenge as a my saving method to build it up. I am currently at $356 dollars. According to Dave Ramsey's, Total Money Make Over, I could stop my saving at $500 then start my debt snow ball, but I am not going to do that I will continue to save the $1000. Although my income may not be extremely high right now, I just feel more secure saving $1000. 
I exchanged budgeting tips with one of my friends and she suggested I total up all my receipts each week instead of waiting until the end of the month. I thought this would be a great idea and a more effective way to organize my transactions and manage my budget more effectively. I completed week one and week 2. I get paid every Thursday so I map out my budget from weekly starting with Thursday and ending with Thursday. 

I have placed my budget plan in a more visible place also know as my kitchen. I can't ignore my budget in my kitchen, as I visit this area at least 8 times a day. It is positioned on top of  my TO-DO LIST tack board right next to my vision board. I think this area is perfect because I am forced to revisit my vision every day multiples times a day. It sits up high where my faith should be. 
I am disciplining myself to make tithing my #1 priority. I feel obedient and more accomplished when I tithe. I also feel like it keeps me on the right path of assigning my dollars in places that they belong.The 52 week savings challenge that helps to build my emergency fund is my #2 priority. Rent is very important as well, so it follows up as my third priority. I pay a portion of my rent weekly and I find that this method works the best for me. I believe that paying a weekly percentage of rent helps to relieve the overwhelming feeling of such an astronomical amount being deducted from my income all at once. Paying rent all at once can be a heavy financial burden to carry at times. These three top priorities are categorized my "TOP FUNCTIONAL EXPENSES". I really am not able to function properly without paying these expenses. I want to give it a little more practice before I go into full detail about my budgeting strategy. Once I have completed this budgeting technique for a full a month and I feel comfortable that it will become a habit then I will share more budgeting details.
I know this situation is temporary and I will eventually experience the Kingdom on Earth that God intended for me to have. I am going to stay committed no matter the sacrifice that needs to be made. As Dave Ramsey always says, "Live like no one else so later you can live like no one else"


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