Budgeting for Homeschooling Costs

Are you budgeting for homeschooling costs?  Have you ever heard of Dave Ramsey?  Have you ever thought how can Dave Ramsey help me as a homeschooler?  Do you have a planned budget for your homeschooling expenses?  This is how Dave’s plan taught in his Financial Peace University, can also benefit your homeschooling budget!

Let’s first talk a little about who Dave Ramsey is.  Dave Ramsey is one of the biggest financial gurus of our time.  He began his marriage with little in his pocket.  This family struggled with being broke! He first made his money in the Real Estate market, but later had to file for bankruptcy due to a new tax bill.  After that, he started counseling couples financially.  He found a gold mine!  In 1992, he founded Lampo Group, Inc. He scaled Financial Peace University into one of the largest finical programs out there.   He has also written numerous books, with five of them being on the New York Bestseller list.  He has launched a podcast and is on over 500 radio stations around the US and Canada.  He is even on the radio in my neighbor’s backyard right now!   He has launched Legacy Journey and various other programs.  He has taken his knowledge of business and finance and turned it into a multi-million-dollar business.  And who does he credit for supporting through this struggles and triumphs?  God!

The number one thing that draws me into his program more and more is his love for God.  If you have ever taken the Financial Peace University class, you know he talks about God a lot.  The very last lesion is geared toward God and our responsibility to him with our finances.  You can see how God has used him and the plan God had for Dave Ramsey!

I bet you are asking yourself, that is great but how will it help me homeschool?  Dave Ramsey’s number one strategy is budgeting.  He believes you should make every dollar have a name and a purpose.  I like this idea and still use my envelope system after 3 years of using his program!

First, I would figure out how much money you will need in the future for homeschooling expenses.  Next, figure out how long you must meet that goal.  Do you need $300 in 3 months?  If so budget out $100 per month until you reach your goal.  Or do you need $500 for next year?  If that is the case divide $500 by 12 months.  You will have to set aside $50 a month to reach that goal.  I usually put my money in an envelope in the safe or drawer. It really depends on where you would like to store your money.  However, first make sure it will not be confused with your monthly budget. Keep it separate!

I find this strategy to most helpful with homeschooling expenses or any budget need.  This is why I love the program so much.  Dave uses strategies to help you accomplish your goals!

Need a budget form to help you manage your homeschooling costs. Use this!

If you like this article, learn how your children can learn budgeting!  Read my article on Financial Peace Junior.

Interested in other posts in this series:

Picking Curriculum – What are my homeschooling options?

What Curriculum should I buy if my child has a learning disability?

Strategies to improve your school year

Budgeting for homeschooling costs

 

Want a FREE Printable to help, download your free copy here:

Homeschool Budget Form

5 Strategies to help your children have a great school day

 

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