$0 - Rich

I like to spend money. In fact, I love having a regular income now because it enables me to buy all sorts of wonderful things, not only for myself but also for friends and family.

Yesterday for instance I picked up this amazing little book called "this little piggy went to Prada" with nursery rhymes for the fashion minded - I love it - and it was over half price off! Not to mention the fact that my tea and tin collection is growing again, and little things like the cost of petrol - $70 to fill up my car!!!

While I've worked out a small giving portfolio, I've been struggling to pay off a few debts to people, and save money... yes, no prizes for why that's the case!

So yesterday when my eye was caught by the book $0 to Rich in Mary Ryan I decided to give it a go. It has the most practical advice for saving (even on a government pension) and once you've reached certain goals, how to invest that money to make it work for you.

In light of all of this, I'm going to start following her advice. Little by little actually saving, and then getting that money to work for me. It's a bit different to how I have been thinking: Get money, give to people, pay off home loan, have nothing left over!

It's quite exciting, and I believe very biblical in terms of stewardship. It doesn't mean that the money you save is yours, it's all still God's, but you've got it there to bless and you're not frittering it away.

The following steps are basically my interpretation of what she's saying in terms of a budget (with a biblical slant):

Payday - Money comes in
10% tithe (no, she doesn't cover this!)
of the remainder
- 33% savings (put directly into a savings account) - she states that if you're starting out work off 10% and then each year work up to 1/3 of your income
- 33% Bills
- 33% for yourself. So out of this money would come things like personal spending, gifts, holidays and yes, for me, giving portfolio

And from there... allocate your savings to make it work. Highly recommended. I'm not exactly sure how I'm going to fair with this lifestyle/thinking change especially with overseas trips I need to make this year and getting more into the expensive equine world but I'm very keen to try. It's also quite a different mindset considering in some parts she's talking 30 YEARS! I'm more a month by month, day by day kinda girl so the switch will be interesting, but I'm certain more beneficial.