I really like the teachings of Dave Ramsey. I use to listen to him every week day whether I was in the car or at home, around lunch time, he was on the radio and my kids were being ignored. Thankfully my husband treated debt like Dave Ramsey’s teaching before we knew who he was. The one thing we’ve never done in the almost 18 years we’ve been married is the dreaded “B” word…Budget! It’s not that we’ve never tried, but for some reason I get this huge mental block any time we try to do a budget (laziness? selfishness, maybe?). A big part of it was that neither one of us really cared much. Financially we were doing ok so it didn’t seem that necessary. I mean we wanted to be good stewards of what we had but we’ve just been coasting, trying to “budget” without writing anything down or without any kind of plan at all and…well..that's not called budgeting, it’s called living with hope that the money doesn’t run out.
When I started HOLSTRit we both knew we weren’t going to borrow money for the business. We wanted it to be a blessing not a curse. For the last year or more we have been using our personal cash to fund the business without budgeting or worrying too much about money. That seemed like a good plan, until the cash started to run out and we hit a wall.
Well, guess who’s feeling the pain of not budgeting now? Guess who’s feeling the pain of not being extremely intentional with every dollar? Dave even has a free app called everydollar.com, he’s made it really simple. Now we know that money really does run out and now we get to buckle down and make a change!
Hopefully we’ve gotten the business off to a good running start and we will be putting much less personal money into it. I’m also hoping the bigger start up costs (legal fees, accounting fees, office supply costs, start up inventory…) will keep dwindling. I’m hoping the business can sustain itself very very soon. Kevin O'Leary has said on Shark Tank, “If after 3 years, your business doesn’t make a profit, take it out back and shoot it!" One year down, two to go. Who knows in 3 years where HOLSTRit will be but in the mean time, we’re gonna learn how to budget, do our best minimize financial pain and actually become a good manager of what we’ve been given!