Today is considered “Blue Monday”. This day received its name because more people commit suicide and feel really depressed. Why? Well, it is a known fact that it takes 21-days to form a habit. Therefore, if you have made promises to yourself for the year of 2012 and have not kept them as of today, you may feel down today.
Let me encourage you today. If you have fallen off “the wagon” on your commitments, don’t be hard on yourself. Get up and brush yourself off and start all over again. You can do any and everything you have set your mind to do.
So for this week’s challenge, take all of your bills that you have written down from #2 challenge and divide those bills into 2 categories. The first category will be Operating Expenses. In this column place all reoccurring bills. This would include your electric, gas, phone, water, mortgage, rent, gas for car, car insurance, food, tithes, etc. So anything that will not change in the next 20 years or so.
Secondly, make a category for Project Expenses. This would include things that can be paid off in less than 5 years. For example, your credit cards, student loans, car payment, etc.
Now, you need to make a monthly budget for your finances. Add up your operational expenses and subtract from your income. Then, subtract the minimum payments from your project expenses. Determine how much money you have remaining each month. If you are in the negative you need to find ways to decrease your expenses or add income to your household.
Take a deep breath! You can do this. So do the “Happy Dance” together.
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