Friday, October 1, 2010

House Account (Month Five)

House Account Monthly is a Meme for Prudent Homemakers, which I host on the first of each month. Find out more about it and then come back to read my check-in.

- Did you record all your spending this month?

No. I have piles and piles of receipts to go through. I started out recording everything at the beginning of the month, but then got off track. I will have to spend an afternoon getting it all in the book before I can move on to this month's account.

- What are your goals for keeping a ledger? 

Future generations of my family will read my ledger book and find out what kind of person I was. They will see how much  money I spent and what I chose to spend it all on. This reminds me of something I once heard about Charles Spurgeon. From what I understand, he and his wife gave large sums of money for charitable purposes.  (An Orphanage, Almshouses, A Book Fund, etc.)

A Mrs. Hillyard, who was a Clergyman's widow, "determined to devote her money to the service of God." Her funding helped establish an orphanage which was directed by Spurgeon.  I am deeply inspired by her complete devotion to charitable work.  You can read more about this in Spurgeon's online biograpahy at The Spurgeon Archive. 

We also must realize that, historically speaking, people generally kept excellent financial records which became their legacy and helped future generations see exactly what kind of people they were.

My hope, is to completely transform my idea of money and spending, so I am truly accountable. I want to be found to be a good steward of the resources I am given.

- (Optional) How are your children doing with this? Any cute sayings from them, or progress in their financial education? 

For the past few months, my son John has been doing my bookkeeping. For now, I am going to do it myself, because my receipts have gotten out of control.

- Any helpful resources you've found? (such as a website, link to an article, or book)

Just for Fun, I have an episode of I Love Lucy where you can see her trying to get her house account in order to show her husband.

- Were you able to put aside some savings this month? 

Not as much as I would have liked.

- How About You?

Are you keeping track of your finances in an old fashioned ledger book? I'd love to see how you did last month. Please share your thoughts, or a link to your blog post,  in the comments section.

Mrs. White

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Julie said...

I absolutely love "I LOVE LUCY!"

It drives me crazy to not have all of the household accounts in order. We are fortunate to be able to pay a bill as soon as it arrives. All charge cards are also paid each month. I love to have an empty bill pouch!

Mary said...

New follower from friendly friday! Would love you to follow back!

Jasmine said...

I love Lucy. She's a doll. We've been attending David Ramsey's Financial Peace seminar and what an eye opener.

Our homework is a quickie budget which is a quick view of your current bills and money spending.

We need to start an emergency fund, preferrably a money market account.

For homeschool, the kids and I found a pretzel bucket and put our loose change in it. Our plan is to fill it up by the end of 201l or sooner.

I can't believe how ignorant I've been with God's money. I highly recommend David's seminar to anyone wanting to follow godly financial principles.

Leigh said...

Interesting meme. In a way though, it's a sad reflection of one of the many failures of our government education system. When we homeschooled, we did college prep math and also at least a semester of "practical" math, which included budgeting and how to balance a checkbook (another skill that isn't taught much.) Of course, we practiced what we preached with a budget of our own and kept out of debt. Also, we had certain requirements about the kids' allowance: they had to tithe, they had to save, they got some to spend.

I can say that it paid off (oops, sorry about the pun!) When my daughter went to college, she asked for help in setting up her budget and except for a few deviations (like giving away $500 of her tuition money to an emotional plea for mission funds), finished college with money in the bank. That enabled her to get into graduate school, for which she also did not incur debt.

Both my children are adults now, and on their own. Both of them handle their finances very well. That's truly a blessing.

Kristin said...

I also LOVE I love Lucy!! She's the best!

I'm your newest follower!

Kristin :)
Keenly Kristin

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