I welcome you again this week to another time of learning at the feet of Jesus Christ. This week, I shall be shedding light on Budgeting as one of the effective ways of managing money in your home.
One major thing that will help you in your home is to budget for your spending. Budgeting is not a gift, rather, it is an art that has to be learnt. Moreover, budgeting is Biblical! Jesus said: For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it (Luke 14:28)
This implies that you have to sit down and reasonably plan your spending. Proper planning will give you financial rest. Planning and budgeting is necessary for proper financial management. How will you know how much you need per month, if you have not sat down to write out what your expenditure for the month is? You need to budget for both domestic needs and essential commodities. To waste what you have is an offence to the Lord. So, budgeting is very important.
A good budget is a spending plan that includes virtually everything you intend to spend money on, over a specified period of time, based on the expected income. Expenditures in a wise budget include savings for a 'rainy day', for large purchases, giving and for future career, while you still stay within your income.
Why Budgeting?
A good budgeting plan will guide your path financially. It will help you to set up guidelines for reaching your goals, which in turn enables you to measure your progress. You will then be able to control your money instead of money controlling you!
Budgeting enhances your ability to live within your means. The reason why many people are in debt and financial stress today is because they are not living within their means. If you spend beyond your means, you will end up in debt. Indebtedness is disastrous! It destroys! Debt has led to many homes hitting the rocks! Your home will not shatter in Jesus' name.
My husband says that whatever God cannot give him, may he never have it! Apostle Paul said in one of his epistles to the Philippians that: Not that I speak in respect of want: for I have learned, in whatsoever state I am, therewith to be content. (Philippians 4:11).
Include any and all expenses for each month within the budget, and remember to include the not-so-obvious ones such as groceries, gas, medical expenses, restaurants, and even entertainment. Most of your bills or expenses which are not flexible such as house rent occur at the same time each month. These expenses are predictable and easy to plan for. Other expenses such as groceries and entertainment are flexible. If a cut-back is needed, these flexible expenses are the ones to be cut. Once you have a budget, stick to it.
Use your budget to determine the amount you can spare to place in a savings account at the end of each month. Do this regularly. Everyone should have an emergency fund and feeding a savings account is the easiest way to do so.
You need grace from God in order to be a faithful steward in money management. The right place to begin from is a personal relationship with God, through Jesus Christ. If you want to start this relationship right now, you can say this prayer: Dear Lord Jesus, I come to You today as a sinner. I believe You died for my sins and rose on the third day. Forgive me my sins. I accept You as my Lord and Saviour. Make me a child of God today.
Congratulations! You are now a child of God!
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