08/01/2013 Principle #7 Develop a Budget “Through wisdom is a house built; and by understanding it is established.” Proverbs 24:3 Prayerfully submit spending decisions to the Lord. Everything we possess is owned by God, and we should spend to please Him and not for a selfish purpose. Whether you make $8,000 or $800,000 a year, a budget or spending plan helps you make better financial decisions. It enables you to keep an eye on your values and priorities. You may ask, “If giving is so ‘right’ and produces such joy and blessing, and if saving is so wise and produces a sense of well-being, why do I have such trouble doing it?” The answer is . . . get into the habit of keeping records. You’ll know exactly what everything costs; you’ll know what your basic living expenses are; you’ll know what those additional lifestyle luxuries cost. This will help you develop a realistic plan or budget. Once this habit of keeping records is developed, you will find freedom which comes from knowing you are living within your means. Many times the inability to save or increase giving is due to overspending caused by not knowing where your money is going. Most of us approach the four things we can do with money in this order — lifestyle, debt, savings, giving. With a plan in place - a budget - we can reverse the order by joyfully giving first and allowing our lifestyle to follow. As Christian stewards, we need to establish our budget around our giving, not our lifestyle. Ask yourself two questions: Do I need it? Can I afford it? Not With Your Money Sometimes in today’s culture it is hard to stay out of debt let alone take on someone else’s debt. When we are in debt, we are in a position of servitude to the lender. Scripture’s perspective of debt is clear. “Let no debt remain outstanding” Romans 13:8 NIV.
Posted on: Thu, 01 Aug 2013 11:23:29 +0000
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