If you want to know how Captain Geech and the Shrimp Shack Shooters came to be, you can’t start with the trivia nights at the local brewery, or even with the team’s impressive string of first and second-place finishes. You have to go back—way back—to a little boy of about ten, sitting cross-legged on a shag carpet in front of a boxy Zenith television, clutching a cheap plastic microphone and trying desperately not to breathe too loud. Because that’s where Captain Geech was really born.
Creating and Following a Budget
Creating and Following a Budget
by Tim Rubash
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Money stewardship is the responsible management and oversight of one’s financial resources. At the heart of effective money stewardship lies the art of budgeting. Budgeting is not merely about restricting spending; rather, it is a tool for empowerment and financial freedom. We will discuss the importance of budgeting, how to set up a budget, strategies for following it, and tips for staying on track.
Setting Up a Budget: The first step in effective money stewardship is to create a budget. To begin, gather all sources of income and list them. This may include salaries, bonuses, freelance earnings, or any other sources of income. Next, compile a list of all expenses, categorizing them as fixed (e.g., rent, utilities) or variable (e.g., groceries, entertainment). Subtract total expenses from total income to determine discretionary income. This surplus can be allocated towards charitable giving, savings, investments, or debt repayment.
How to Follow a Budget: Following a budget requires discipline and commitment. Start by establishing clear financial goals. Whether it’s saving for a vacation, paying off debt, or building an emergency fund, having specific objectives will provide motivation to adhere to the budget. Allocate funds accordingly, prioritizing necessities while allowing for some flexibility in discretionary spending. Regularly review and adjust the budget as needed to accommodate changes in income or expenses. If you have a spouse or partner, it is essential that they are on the same page.
Strategies for Staying on Budget: Several strategies can help individuals stay on budget. First, automate savings and bill payments to ensure they are prioritized each month. Additionally, use cash or debit cards for discretionary spending to prevent overspending. Consider using budgeting apps or spreadsheets to track expenses and monitor progress towards financial goals. Set aside time each month to review spending habits and identify areas for improvement. Include your spouse. Finally, practice self-discipline and avoid impulse purchases by sticking to the budgeting plan.
It is important to understand the difference between Needs and Wants. Needs are expenses that are essential for a person to live and may include rent or mortgage payments, insurance premiums, utilities, transportation expenses and food costs. In addition, health and child care fall into this category. Wants, nonessentials, lifestyle and discretionary purchases are costs that are not necessary to maintain your basic quality of life.
By implementing strategies for staying on track, individuals can successfully manage their money and achieve long-term financial success.
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2 Comments
Pamela Rubash
I think this is key to peaceful living and a beautiful life
Pamela Rubash
Great information and reminders
Trivia
When Bureaucracy Outbuilds Progress
There’s a funny thing that happens when the government decides to “get things done.” It begins with bold headlines, press conferences, and well-written mission statements. Billions of dollars are earmarked, and officials tout innovation, jobs, and progress. The goals always sound noble — revitalize chip manufacturing, expand high-speed internet, rebuild infrastructure. But somewhere between the approval of funds and the actual pouring of concrete, the gears of bureaucracy start grinding.
The Shack
It was the winter of 1973, and in the snow-frosted town of New Lisbon, Wisconsin—where the smell of wood smoke hung in the air and mittens froze stiff in five minutes flat—lived a boy named Jimmy Halvorsen. Age fourteen. Average height, good grades, but with one extraordinary quality that set him apart from every other kid on his block: Jimmy was hopelessly, irreversibly, gloriously in love with Radio Shack.
I think this is key to peaceful living and a beautiful life
Great information and reminders