The Balanced Spreadsheet-Financial News, Budget Advice, Debt help, Financial Tips, and other advice

April 10, 2010

Changes In The Balanced Spreadsheet’s Family

Filed under: Personal Finance, Real Example — Tags: , , , — thebalancedspreadsheet @ 12:30 pm

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Sorry for the lack of quality posts lately.  I have been really busy at work recently, but things should be calming down shortly and a regular schedule of quality posts will resume soon.  Today I would like to share some big changes to Mrs. Balanced Spreadsheet and myself.  These changes will not impact the blog any; however they are things will impact our personal finance situation over the short and long-term.

If you have read our 7 financial goals before you know that one of my dreams has been to always have my own business.  Well after reading many career books from different sources including Dan Miller’s 48 days to the Work You Love and No More Mondays, I have decided to put my knowledge of finances to use and become a financial coach!  I am both nervous and very excited about starting my own financial coaching business but it is something I have a passion for.  Part of my training will include attending Dave Ramsey’s Financial Counselor training starting April 20th  in Nashville, TN.  This is pretty exciting because I have always been a big fan of Dave’s financial principles and the way he presents them.  My plan is start the business slowly and build a solid customer base before I pursue it full-time.

The change is not limited to me however.  My wife will be leaving her current position in May to pursue finishing up some courses to get her undergrad degree.  In addition she will also starting up a home business on the side to help replace her lost income.  This is really exciting as she is only two classes short from her undergrad degree and the timing of the classes lined up perfectly to do this over the summer.  We are also excited about the business as it will help replace some of the lost wages initially and is something she can continue to work on even when we have children someday.

The next few months should be busy for us and we will definitely be going through some changes in the next few months.  Some initial changes will be that our income is going to drop initially as we will go down to one fixed income.  Our budget is based on my income anyway so we will be fine there, but we are going to be slowing down our accelerated mortgage payoff plan for now.  We will pick that up as soon as our businesses become profitable.  So while in the short-term it will be a little chaotic, things will be better going forward.  We know it will be a challenge but we have prayed about this and carefully plotted out a plan to make this all work.

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1 Comment »

  1. […] Funding, Vacation Fund — thebalancedspreadsheet @ 12:00 pm With things changing around our household, I thought it would be good time to update our breakdown of our cash and see where we stand before […]

    Pingback by Cash Breakdown March ‘10 « The Balanced Spreadsheet-Financial News, Budget Advice, Debt help, Financial Tips, and other advice — April 13, 2010 @ 12:00 pm


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