Serving Bread

For most people, drafting a budget is not a fun thing to do. Most people are probably not wired (or disciplined) to draft a budget and stick to it. Many people may give lip service to budgeting, but frankly, it’s not easy to put together a budget and then to actually have to stick to it.

But a budget can be a very helpful and (if I may be so bold) a faithful discipline. Budgets will reveal a picture of how we intend to use our money. A budget will help us prioritize our giving and our expenses. It will allow us to see what we value and how we want our money to be spent.

I often muse that someone’s checking account may be one of the best indicators of his or her faith and convictions. When I teach seminars to graduating seniors, I try to communicate that a budget will aid them in being faithful to the things that God calls them.

Here are some tips that I have found helpful in developing my family’s budget:

• Begin with the realistic. To see a budget as a limiting factor on how we spend our money will make it a tough road of sticking to the budget. We need to begin by being realistic with our numbers. I once advised someone whose entertainment expense was well over $500 a month. She was in deep debt and needed some help. Rather than begin with cutting and putting herself in high discipline, I asked her to simply pick the numbers that are realistic and comfortable. Having said that, the first step for her was to stick to her budget. Once she did that, it would be easier to then begin looking at ways to cut her expenses.
• Revisit regularly. If they budget, most people may never revisit their budget, which essentially makes the budget useless. Revisiting a budget every month (at the beginning of a budgeting process) and then every quarter will help you track your expenses.
• Budget everything. As I mentioned two weeks ago, budget annual expenses on a monthly level. Don’t be stuck with higher expenses in December because you didn’t budget for Christmas gifts.
• Track expenses. The only way to really know how the budgeting is going is to track expenses. I find that a software program (like Quicken of MS Money) can be extremely helpful. It is well worth the cost of the program!
• Seek accountability. Money seems to be one of the least talked about topics in most Christian relationships, yet so much of our faith and convictions revolve around it. Get input for your budget and ask others to keep you accountable.

I have several budgeting resources that I’d be glad to share with you. Drop me an email and I’ll send you various resources on budgeting well.

-----
If you enjoyed this post, be sure to grab the RSS feed. Also, please take a moment to submit this post through "Share This" above.
-----