ok, so I was blessed to be able to leave my teaching job and homeschool our kids as of september ‘09. don’t get me wrong, I love teaching, and I love the age-group I was working with (7th-12th) at our local Christian high school. and I love teaching art! but, I couldn’t rationalize sending my kids (at that time a 3rd grader and a 1yo) somewhere all day long to be watched by someone else while I spent my whole day watching kids besides my own! and, realistically, the tuition payment for my son plus the full day of daycare for my daughter cancelled out any salary I was making. (remember I was at a Christian school, so the salary was about 1/2 public school).
my husband is wonderfully supportive and his salary allows us the option of me working or not, so adding another baby brought the idea up again of me staying home.
now, back to the cash-only idea. mr. man gets paid ONCE a month, at the end of the month. historically, I will sit down and pay ALL the bills for the next month and then we live on what’s left – with no plan of designated savings, spendings, whatever.
then I started reading dave ramsey’s total money makeover.
(confession: I purchased this book in 2004 when my son was in preK3 and NEVER even cracked it open! sat it on a shelf and then started reading it about a month ago. i have sufficiently kicked myself over and over for not reading it sooner!) he spells out 7 baby steps to get out of debt and live it up as a retiree. the pre-step to the 7 steps is to make a zero-balance budget. this is where you assign EVERY DOLLAR to a specific place or category and then you have a plan for every dollar to be used the way you want! so, I did – and it was EYE OPENING to see where the money was (and wasn’t) going! tomorrow I’ll post a bit about where we put all this moola - my cash envelopes.