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A Simple Change

August 21, 2024 We sat down with our Summit Financial Coach for our usual check-in. It started with, “How has everything been going?” Cory and I always find ourselves looking directly at each other trying to give a soft nudge for the other to speak up. This week, we expressed our frustrations with how our joint account, which is used for household bills and expenses, seemingly goes in the negative the 15th of each month. We took our financial coach’s advice and looked at our bills, and to our surprise, most of our bills are due between the 13th and 17th of each month. One of the first suggestions was to put our energy bill on what is considered a budget plan. Our electric company will estimate our use, and we pay a set amount each month. However, if we exceed the budgeted amount, then we would owe a balance, but if we don’t meet the budgeted amount, then we will receive a credit. This was such a great tool for budgeting each month. Without the fluctuation of an energy bill, we were able to budget better and add a little more to our savings. The next suggestion was to spread out the bill payments, maybe to the end of the bill cycles. This suggestion was also great because we won’t feel the anxiety of all bills being paid in one week – rather spread more evenly throughout the month. Lastly, we were told to go back to our budget and see if there are any expenses we can eliminate. We reviewed our budget and found a subscription that we can cut down on, which will give us some extra cash flow. As we wrapped up our session, Cory and I felt a sense of relief and empowerment. It’s amazing how a few simple adjustments – like spreading out bill payments, budgeting our electric bill and trimming unnecessary expenses – can make such a big difference in managing our finances. Our journey isn’t over, but we’re finally seeing the light at the end of the tunnel. If you’ve ever felt the stress of your account dipping into the red or the anxiety of bills piling up at the same time, you’re not alone. Take a moment to review your own financial situation and see if these strategies could work for you. It’s never too late to take control of your finances, and sometimes, all it takes is a little guidance and a few tweaks to get back on track. You might also be interested in As we wrap up our Project Money experience, we want to take a moment to reflect on how far we’ve come—emotionally and financially—and share our journey... This past week, our family participated in a door and patio decorating contest hosted by our apartment management company. The grand prize? A $200 gift... Over the past year, my family has been making deliberate choices to save money and focus on our financial goals. One of those decisions recently involved... As we approach the end of our journey with the Project Money program, Cory and I (Je’Lisa) took some time to reflect on how we can apply the financial... Every now and then, life throws a financial curveball—in this case, it was a pleasant surprise. We received a refund from our gap insurance since our car... This week, we faced an unexpected hiccup with our insurance: A doctor charged us for a 2023 appointment because they had outdated information. It was frustrating... Thanksgiving is a time for gratitude, family and of course, a feast. But let’s be honest, hosting a traditional Thanksgiving can come with a hefty price... This weekend, we decided to take a quick overnight trip to Minnesota. It was to record some music and spend time with friends, but we were determined to... This month marked a milestone for our family: It was our first month without a car payment after refinancing our vehicle through Summit Credit Union. With...