We have learned to adjust our spending to what we have budgeted…
Can you imagine living from paycheck-to-paycheck, having a family, and not being prepared to face even the slightest financial emergency.That’s how Justin and Amanda’s financial life looked, until they decided to do something about it.
Just recently one of our Money4Life coaches, Nathan, shared with us this quick note he received from Justin and Amanda, avid users of Mvelopes:
“Since using the program, we were able to have a set budget. Instead of spending and then adjusting our budget to what we spent, we have learned to adjust our spending to what we have budgeted. We were able to get $1000 in savings for the first time in our marriage! And because we had that savings, we were able to take care of a broken dryer, a broken car and a broken vacuum without using credit cards and still sticking to the spending plan we had created!” – Justin and Amanda
Justin and Amanda decided to follow this one simple rule spoken of by George Washington: “WE MUST CONSULT OUR MEANS RATHER THAN OUR WISHES.”
You see, it’s not about how much income they did or did not have. Once they decided to adjust their spending to their current level of income, magic started to happen.
For the first time in their married life they had enough in their savings to cover their immediate financial needs with cash. No more debt!No doubt, there is a great financial future in store for Justin and Amanda!
Justin and Amanda’s smart financial moves:
Decided to create a spending plan – a budget. No more guessing!
Adjusted their spending to the level of their income.
Created an emergency savings account and began a habit of setting a specific amount to build a $1000 reserve.
Disciplined themselves to stick to their written plan – their budget.