Part 1 – Organize your finances: creating a budget | A Bowl Full of Lemons (2024)

We are always trying to figure out how we can organize our closets & drawers, but this week I’m going to share how I organize my finances!

I am so excited to host the challenge for you. My wish is that you will truly see how life changing this lesson can be for your family. It’s my absolute favorite challenge so far! I’m calling it “ORGANIZE YOUR FINANCES WEEK”. This challenge is 6 days long and will come in daily tasks for the entire week. I want to make it clear that I am not a financial advisor, but a mother and wife who has learned the hard way, how to organize my finances (mostly by the teachings of Dave Ramsey). I am not perfect, and I’m definitely still learning, so if you have any suggestions or tips, that would be beneficial to us all. If you are someone who is debt free, way to go! You will be an inspiration to all of us who are on our way there!

Here is a look at what we will be doing this week…

“The plans of the diligent lead surely to plenty, but those of everyone who is hasty, surely to poverty.” Proverbs 21:5

Today my challenge for you is to create a WRITTEN budget & track ALL of your spending for the next 6 days!

You may say “Im already on a budget” but today I want you to sit down and write out a NEW budget (your budget should be revisited every month) which will spend every penny of your paycheck! This is called a zero balance budget. If you are paid differently each payday, you can still create a budget. This is called “irregular income planning”. With this plan, you will prioritize your spending by importance. So if you get paid $2000 this payday, you will spend the $2000 right down your list of importance until its gone. For the irregular income budget form, go {here}.You can learn more about cash flow planning & budgeting at www.daveramsey.com. My challenge is going to be very basic, enough to introduce you to financial organization and get you on the road to financial peace. Once you have completed your budget, place it in your home management binder (for now).

Dave Ramsey says “Every single dollar of your income should be allocated to some category”. When you are done with your cash flow planning (detailed budget), your income minus expenses should equal zero. That means, if you have money left over after budgeting, it needs to go to savings (or somewhere).

To track your spending for the next 6 days, all you have to do is carry a little notepad with you. Write down EVERYTHING that you spend… coffee, gas, food, etc… This is going to show you exactly where your money is going.

A few great places to find budget forms are:

A quote to ponder…

“There is a difference between being committed to your success and being interested in your success. If you are interested, you will do what’s convenient. If you are committed, you will do whatever it takes – and doing whatever it takes is what you need to succeed in business, no matter who or where you are.”

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THIS GIVEAWAY HAS ENDED!

Oh, and one more thing before I go, A new challenge means a new giveaway!! Since this week is “Organize your finances” week, I wanted to host a giveaway that went along with the theme. I’m giving away a Dave Ramsey gift pack. One winner will receive all of these Dave Ramsey goodies…

1. Total Money Makeover Book

2. High-Performance Achievement CD

3. More than Enough Book

4. The Super Red Racer Kids financial book

5. Financial Peace University Book

6. Dave Ramsey Deluxe Executive Envelope System

Not only am I giving away the Dave Ramsey Pack, but I am also giving away 5 Budget & Bill Pay Kits from Clean Mama’s etsy printables shop. 5 winners will receive this kit.

Tags: budgeting, Dave Ramsey, debt free, debt snowball, finances
Budget, budgeting, dave ramsey, finances, organize your finances, Organizing Your Finances Series, weekly challenge Posted in 244 comments