Budgeting
Guest written by our friend Mason Abbott
I was
talking to my brother-in-law yesterday and I was telling him about how
things have been tight for our family financially lately. I usually do
not like to talk finances with him because he is kind of a know-it-all
when it comes to finances. However, I am to the point that I need some
advice. He suggested that we try to go on a cash budget. I thought it
sounded a little crazy, but after he explained it I decided that we
should give it a try. He also suggested that we switch to fixed-rate
energy so we will have a predictable bill each month. I asked him how
he found out about that and he told me that he searched “energy companies Texas”
online and discovered that he was eligible for it. His wife actually
keeps track of their budget and is very strict about it. He is not even
allowed to use their debit card without getting her approval ahead of
time. I do not want to be as extreme as them in our budget, but I do
think that my wife and I can learn from some of their financial
principles.
