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2023 Preparedness - Wednesday Wisdom: Week 2

Updated: Jan 15



As we begin the year, we are faced with soaring prices that have very little if any chance of coming down. Recession is looming and has already begun and may become deeper.


After two years of crazy inflation, many have seen all their savings disappear and now job losses are on the rise. Step one? If we are going to make a difference, save money now and even rebuild savings we must begin with a budget. I know that is a four-letter word for many but it is essential.


Where to begin?


1. Take a few minutes to understand where you spend money. Make a list. The following may help but you will surely have some of your own.

Rent/mortgage—Food—Insurance (home, rental, auto, life, health)—Utilities—

Transportation—Debt—Phone/internet—TV—Eating out—Entertainment—Gifts—Savings—Lessons—Donations


2. Add an average amount spent next to each item.


3. On your phone or in a small notebook record everything you spend, everything. If you buy a soda, a pack of gum, tip someone, mail a letter, every penny you spend. Each family member should do the same.


Do not skip this step. Everything we do from this week forward will help you lessen these numbers but you need to know where you are beginning to succeed.

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