If you missed the first part of Stewardship Baseball, catch it here. We covered the first two bases of the stewardship diamond (Sharing Your Story and Affirming Others) in the first part of the series and we’ll finish the last two bases today.
As you budget for the rising oil prices, you are likely considering only the extra money you will need for gasoline or heating your home. However, because the costs of other products and services are dictated by the price of oil, you will need to adjust accordingly. Here are some examples:
If you follow Dave Ramsey, you are aware that your very first priority is to establish a $1,000 emergency fund for those unexpected life events. The point of this “Baby Step One” emergency fund is to provide you a buffer or fall back while you’re paying down debt with “gazelle intensity”.
If you’ve already set a budget, kudos to you! You’re already ahead of the game. The real challenge comes with keeping it and knowing which areas you should give some flexibility to and which ones are non-negotiable.
Consumer debt in America has skyrocketed. According to the U.S. Treasury, consumer debt has jumped from $355 billion in 1980 to a staggering $2.4 trillion in 2010. With credit cards as one of the biggest culprits of America’s spending spree, it’s easy to see how we’ve fostered a society that thinks it’s OK to spend […]