Saving money today allows you to live more freely tomorrow.

Today I had planned to post about how to create a budget, but when I googled the topic, I found all sorts of resources for creating a budget on nearly any kind of program. Instead of taking up space here, you can check out some resources on the HOW of creating a budget on Google, depending on your favored software. FYI, I prefer the old notebook & paper. I still find comfort in the feel of a tangible book in my hands and the act of writing stuff down. I think I’m the only remaining dinosaur in my church who takes notes in a journal during Sunday morning service. Let me utilize this space on the WHY of creating a budget and the peace you’ll create in your life once you are controlling your money rather than your money controlling you.

I probably don’t need to mention this, but I’m going to anyway. Here’s a shock for you. Brace yourself. Are you ready? Americans don’t save enough money. According to a New York Times Business article, the typical working family nearing retirement has less than $105,000 in retirement savings. Not nearly enough considering at least one of that couple has a 50% chance of living into their nineties. But I digress. Retirement isn’t the point of this post. That’s a whole other topic. For now we’re going to discuss the importance of a family budget, regardless of where you are in your financial journey.

It’s a well known fact, American save less than any other developed country. According to a CNBC poll from last year, 62% of Americans can’t cover an unexpected expense, like a car accident, dental surgery, or when the refrigerator dies unexpectedly. Experts recommend having six months of living expenses in a rainy day fund for situations like layoffs or health emergencies. For most of us, that’s practically out of the question. We don’t have a month’s worth of living expenses saved, or even one week. How can we have peace in our finances when an emergency could wipe out your checking account while you still have monthly bills to pay?

You may be wondering how in the world you can save six months of expenses when you barely have enough in the bank to pay this week’s bills, let alone plan for an emergency.

It isn’t easy to save six months of expenses, but it can be done. First of all, don’t tell yourself, “I’m going to save six months worth of expenses.” It’s too big of a goal. It can be your yearly goal, but don’t focus on it right away. You’ll get discouraged by the time you reach the end of this article and stop reading. You’ll tell yourself, “That woman’s crazy. It’s an impossible feat so why bother trying.” Instead, focus on saving one week’s expenses. In 2016 I became a runner. One of the very first articles I read was about how to run up a hill. The article suggested you not look to the top of the hill while you're running. It’s too daunting. You look up and think, “I’ll never make it. It’s too steep. It’s too far.” Whatever. While climbing the hill, look at the ground directly in front of you. Not only will it prevent you from tripping over a tree root or a break in the pavement and smashing your face, you can see where you’re going without becoming overwhelmed by the distance yet to climb.

Remember, we’re not talking about saving one week’s income. Just a week’s expenses. That’s where a budget comes in. You can’t save your expenses when you don’t know how much they are.

Dave Ramsey, author of The Total Money Makeover, always says, "Live like no one else now, so you can live like no one else later." A little sacrifice and doing without today will pay off big in the long run.

You may have heard this old adage: Use it up. Wear it out. Make it do or do without.

Many of us are terrible about wasting things or replacing something before it needs replaced. Think of those stainless steel appliances that replaced the old white ones just because they were no longer in style. Many times, by the time you pay off the latest trendy gadget, it’s no longer in style either. After you create your budget, you may realize you can’t go out with friends every time they ask. You may have to forego your Caribbean vacation or the kitchen remodel for a few years, or dinners out, or movies on the big release weekend. You may need to reevaluate your cell phone plans. You may discover you can save money on your health insurance. (That one isn’t likely.) What about the cable bill or new clothes? You can save a small fortune by shopping for clothes & shoes at thrift stores. Especially for kids who outgrow everything long before they wear it out.

This probably wasn’t a fun post to read. No one wants to hear about deprivation. But doing simple things like saying no to a movie out or buying new Easter baskets when you can dig the old ones out of the toy box is better than being blindsided by a simple thing like a root canal that derails your Christmas budget.

I hope this post has encouraged you a little to start thinking of ways you can squeeze savings out of your budget. Little changes done over time will help you reach your goals of saving that week’s worth of expenses much faster. It won’t be long until saving 6 months’ worth will be well within reach.

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