Tuesday, March 16, 2010

Newest Update on the Dave Ramsey plan

In my last post I told everyone about what the Lord did with our taxes. Well this entry will further encourage you. God's timing is perfect...every time. When we first moved to Lufkin for me to take the student pastor position, I met with our business administrator and he helped us set up our Federal with holdings. He suggested the standard which most minister's use, and we told him to hold by airing on the side of caution. Well, God knew that we were holding the perfect amount. It was just enough to: get our emergency fund, pay Georgia State tax, save for upcoming expenses (Car tags, vet bill, exterminator etc), and to pay off our credit card. In fact it was only $200 more than what were going to need to do everything. Now we have adjusted our with holdings (as to not give the IRS an interest free loan every year). Since we still want to be cautious and don't want to with hold too little I chose a conservative amount that will guarantee a refund next year, but will still allow us to get back a good deal of income every month. This will really help us accelerate how fast we roll that "snowball". It was so cool that we "accidentally" took way to much money out, because it was the perfect amount of time for us to learn what God wanted us to learn, and in His timing it was like he started to release the flood gates so that we could be good stewards with His money.

On the struggle side; this month will be tough. We only have $25 a piece for personal expenses (eating out, renting a movie etc), and our grocery budget will be very tight. It's teaching us to really only buy what we can afford, and to set a limit. It was however exciting to pay bills this month because we have a plan, and are eager to follow it. It's one of the first times I have enjoyed paying bills! lol. I can't wait for the day that we can scream "were debt free!" but, until then it's going to be a lot of hard work, and I'm sure God will use it to glorify him along the way. God God!

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