Have you done a budget?
A budget is a simple tool that you used to track your income and your spending.
The idea is to first understand where your money is going, and then use your budget to make necessary adjustment to your spending and lifestyle in order to manage your money more wisely.
A budget is your first act of financial stewardship.
If I look at your budget, I could tell very quickly what is important to you and what you value.
The truth is how we manage our money says a lot about our relationship with God. Over my years as a financial planner, I’ve met many people who despite having very high incomes, have very little to show in way of assets. In fact, there’s a well-known saying, “the more you earn the more you spend”. This is proven true time again.
I want to give you just two keys to successful budgeting.
- Increase your savings as your income rises. So if you get a promotion at work, rather than think about how you can spend your new money, think about how you can invest this additional cash flow that you have.
- When you are working at your spending, make sure giving to God is on the top of the list. After all if we say God is first in our life, then surely this will be reflected in our budgets too.
So why not start now? You can jump online and download a free budget from my website to get you started, or use a spreadsheet on your computer to make a list of all your income and expenses.