4-Step Transition Plan

Line it up! - Paint an accurate picture of your expenses.

The first step to creating a transition plan is to have an accurate picture of your expenses. Make a list of every expense you have for the month. If you are unsure how you spend as much as you do, then record every little purchase. When you buy a pack of gum or soda at a drive-through, write it down.

When you’ve done this for a month, you’ll begin to see patterns of spending. Do you eat out more than you should? Do you splurge on clothing? Are you an extravagant gift-giver? Perhaps you are surprised by health or school expenses.

On your mark - Begin tithing. Scripture: Malachi 3:10

If you have never tithed before, now is the time to start. Tithing is simply giving God a portion of what He has already given you. The Bible instructs us to take the first tenth of our incomes, and to put it in the “storehouse,” which is the local church. This act of obedience is the only one in which God says “test me.” When you align your finances with God’s will, there is a promise of blessings that will overflow.

Malachi 3:10 "Bring the whole tithe into the storehouse, so that there may be food in My house, and test Me now in this," says the LORD of hosts, "if I will not open for you the windows of heaven and pour out for you a blessing until it overflows."

Get set - Pay off debt and reduce expenses.

The next step in the transition plan is to pay off debts and reduce expenses at the same time.

Financial experts recommend that you list your debts from largest to smallest, and focus on paying off the smallest first. Pay the minimum due on the rest and double or triple your payments on the lowest one. Once that’s paid off, then transfer that money to the next smallest debt. To accelerate debt repayment, reduce your expenses and use the money you are saving to reduce the balance on your bills. Look at every item on your budget and be ruthless. Make easy changes first like eating at home, instead of at restaurants, ironing your own work shirts and shopping at second-hand stores. Some expenses may seem too little to bother with, but they will add up.

Then consider more difficult changes like selling a new truck that guzzles gas, and buying an inexpensive smaller car. Maybe sell a boat or a camper. You might even need to move into a more affordable home or apartment. Once you’ve cut back, create a budget that reflects your new expenses and commit to living within that budget.

Go home! - Start working from home.

If you know you can’t live on one income, then you’ll need to make money from home.

Start researching the different opportunities and begin working from home before you quit your job. This extra money can pay off your debt, or you can begin to save.

One benefit of finding work from home before you transition, is you can try different jobs without worrying about the money.

Your transition plan can be aggressive, moderate or conservative depending on how quickly you want or need to be home. Bathe your plan in prayer and trust the Lord to see you through.