Episode 56
Having a budget is foundational to financial success. However, just having one doesn’t automatically make you financially successful. You must know how to use it to achieve success. On this podcast we continue sharing our many years of personal budgeting experience to help you gain insight into what will make your budget more successful.



Auto & Property Insurance

Everything tends to go up each year, at some point it’s worth switching.

  • Lots of competition so take advantage of that.

  • Ask for discounts - insurance companies have many discounts they can apply to make your policy less expensive.

  • Don’t forget other options to decrease your premium like:

    • Increasing your deductible.

    • Liability insurance for older vehicles.


Episode 42 - Auto Insurance
Episode 22 - How to Buy a New Car
Episode 23 - How to Buy a Used Car


Car repairs

  • If you have kids that you help with car repairs or maintenance, then you have to put it in your budget. You can’t just budget for your cars, you have to budget for the people you support financially, if you don’t write it down you won’t set healthy boundaries.

  • Set a plan in place with your grown kids.

    • Encourage them to have their own budget that includes car maintenance and repairs.

    • If you are mechanically inclined (oil changes, even minor repairs) have them pay for the parts and you do the work, this way your budget is not affected.



  • Purchases that don’t fit into a category.

    • Something you buy occasionally (printer paper and ink).

      • Not light bulbs or cleaning supplies because they are either in house maintenance or combined with groceries.

    • Apps for phone.

    • icloud storage or itunes charges (only when small and not frequent).

    • Dry-cleaning, magazine subscriptions, unexpected giving.

    • Most miscellaneous expenses you should be able to see over long-term tracking and create a full plan for those expenses.

    • Animals expenses (might put your first couple pet toys in misc, but then it needs to go on the pet budget category).

  • Add a pet category to your budget so you can track everything you’re spending and plan accordingly.

  • Add a healthy living category. Don’t put gym memberships & vitamins under Miscellaneous.

  • Add a gift category to your budget, don’t just put it under miscellaneous. You will likely spend $1,000 or more on gifts throughout the year. This is large enough to budget for it in its own category.


Budget Forms and Tools
David’s New Book - Jesus on Money
David’s New Website - www.stewardshippastors.com