Your Budget

Do you have a budget?

Are you managing your money well?

A THOUGHT TO CONSIDER:

Proverbs 27:23 says, “Be sure you know the condition of your flocks, give careful attention to your herds.”

You need to know the condition of your assets and money. You need to give careful attention to your budget and money management.

In Luke 14:28 Jesus said, “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?”

Proverbs 21:20 says, “… fools spend whatever they get.”

I want to encourage you to set up a BUDGET and stick to it.

PRACTICAL WEALTH BUILDING PRINCIPLE:

Having a BUDGET is all about planning and managing your finances. As the saying goes, “Failing to plan, is planning to fail”.

A budget helps to ensure good cash flow. Without a budget you will not know what is happening with your money and you may end up in huge financial trouble.

I would therefore suggest that you form a good habit of setting up a BUDGET. This will ensure that you have enough income to cover your expenses.

Within a budget one needs to weigh up expected INCOME against anticipated EXPENSES.

Once a budget is set it is important that one aims to stick to the plan to avoid any potential cash flow crisis.

WHAT IS A BUDGET?

Quite simply, a budget is an itemized summary of likely income and expenses over a given period

A budget is a tool that helps you prioritize your spending and manage your money

There are only two ways to have a positive balance when budgeting – increase your income, or limit your expenses

By planning and monitoring your budget you will be able to prioritize what is most important, as well as being able to identify where you are wasting money.

HOW TO CREATE A BUDGET?

• The easiest way to budget is to set yourself a goal. Put a workable plan in place.
• Try to establish what happens to your money.                                             
• Draw up a spreadsheet of all your income to establish how much you earn.

• Draw up an expense’s spreadsheet, because before you can manage your money, you must know how you’re spending it. Get into a routine of recording your expenditure daily.
• Make sure that you spend less than you earn
• Put God in your budget, and don’t forget to build savings into your budget
• Make it a habit to stick to your budget. In the long run you will see the fruit if you follow through.

There are many items you need to include in your budget, such as…

• Household Expenses (rent, rates, electricity, etc.),
• Food & Clothing,
• Transport (car repayments, fuel, etc.),
• Communications (telephone, internet, etc.),
• Schooling,
• Entertainment,
• Insurance,
• Incidentals (coffee, magazines, etc). amongst other items,
• Savings and Investments,
• Don’t forget to put God first. When you do, you set yourself up to be blessed.

PRIORITIES:

Many manage their money the wrong way around. I would suggest that you get your priorities in the right order.

I would propose that you get your order right…

1. God first
2. Savings and Investments
3. Living expenses (Housing, food, transport, schooling, insurance, communication)
4. Luxuries (Entertainment and clothing etc.)

STICK TO YOUR PLAN:

Budgeting is all about the IN’s & OUT’s – your INCOME & EXPENSES

Once a budget is set it is important that one aims sticks to the plan to avoid any potential cash flow crisis.

Proverbs 21:5 “Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty”

If you earn less than you need, your cash flow will be in trouble. If you spend more than you earn, you will be in greater trouble. So, what is the solution?

You need to spend less than you earn, and aim to build up savings in your budget

So, we encouraged you to…

• Create a budget

• List your expected income and expenses

• Review your expenses and manage your money well

• Try to eliminate wasting money.

• Be disciplined. Keep a tight control on your money.

• Avoid debt

• Live within your means.

• Put God first in your budget

• Don’t forget to also build savings into your budget – this will set you up for a brighter tomorrow!

Proverbs 14:15 “The wise are cautious and avoid danger, fools plunge ahead.” 

INTERESTING FACT:

According to a Gallup poll done a few years back, only one in three families have a budget.

Having a budget can get your whole family working together on a simple plan. At the end of the day, sticking to ya family budget can help you reduce financial stress.

POWER QUOTES OF THE WEEK:

“Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are.” —James W. Frick

“You must gain control over your money or the lack of it will forever control you.” —Dave Ramsey

WHAT DOES GOD HAVE TO SAY:

Set your funds aside in line with your priorities

“On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made.” (1 Corinthians 16:2)

God is our source:

“You may say to yourself, ‘My power and the strength of my hands have produced this wealth for me.’ But remember the Lord your God, for it is He who gives you the ability to produce wealth.” (Deuteronomy 8:17-18)

Be wise

“Be very careful, then, how you live—not as unwise but as wise, making the most of every opportunity, because the days are evil.” (Ephesians 5:15-16)

If you are not in a relationship with God, please invite Jesus Christ into your life to be your Lord and Savior. We were cut off from God due to our sin, but Jesus paid the full price on the cross so that we can be reconnected to God. God loves you so much that He made a way for you to become part of His family. He wants to share forever with you.  

“Yet to all who did receive him, to those who believed in his name (Jesus), he gave the right to become children of God” (John 1:12) 

You can start or restart your walk with God, as His beloved child. What are you waiting for?

If you want to start or restart your walk with God, click here to pray a simple prayer we have set up for you.

LET’S PRAY:

Father, I surrender my life to you and ask you to be my Lord and Savior. Please help me to honor you and to make wise choices. Please also give me wisdom to manage my money well by sticking to a budget. Help me to get my financial priorities sorted out in the right order. I ask for your blessing and for breakthrough in my money matters. Thank you, Father, that I do not have to face life alone, but that you are with me through it all. I ask these things in Jesus name. Amen.

CONCLUSION:

I challenge you to put God first, to save before you spend, and to live within your means. You can set yourself up for a brighter financial future by sticking to your budget.

God bless you.