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Budgeting For which of you, intending to build a tower, does not sit down first and count the cost, whether he has enough to finish it— lest, after he has laid the foundation, and is not able to finish, all who see it begin to mock him, saying, 'This man began to build and was not able to finish'? - Luke 14:18-20
Question: What glory will you bring to God by living in lack? You must count the cost. (Which means, you must budget.)
When people look at your life and see that you are surviving and overcoming the current financial crisis, they are going to want to know what’s so different about you. That is YOUR opportunity to win them over to Christ. So, it is very important now that you be as meticulous as possible in your money management.
What is a budget?
1. plan for allocating resources: a plan specifying how resources, especially time or money, will be allocated or spent during a particular period
2. money for particular purpose: the total amount of money allocated or needed for a particular purpose or period of time
Tips for budgeting:
1. Begin with assessing your spending habits.
For one month, log everything you spend.
2. Compare your income against your expenses.
If you spend more than your income, you need to budget. If you spend less than your income, then you should look into savings, investing and increasing your cash reserve.
3. Look for ways you can cut your expenses.
Ideas to help you cut expenses:
Live within your means.
Downsize if you need to.
Negotiate credit card interest rates. (You have not because you ask not.)
Get budget billing with your utility companies.
Get basic cable subscription (or have your cable turned off). You can check-out movies from your local library for free.
Instead of going to the movies, go to free museums and city wide community events, or even plan a family fun night.
Instead of going out to eat, plan meals at home. This is a great way to gather you family together.
Reduce extra deductibles from your payroll deductible - i.e. fitness club memberships that you don’t use.
Balance your checkbook regularly.
Don’t carry your debit card or credit card with you everywhere you go. Get cash and leave your debit card at home (this will reduce the temptation for unnecessary purchases).
Use your bank’s ATM to reduce unnecessary fees.
Eat before you go grocery shopping (Why? Because when you do not eat you tend to buy our of hunger and not necessity) and make a shopping list.
4. Be sure to budget around the tithe - in other words, budget on 90% of our income. Of the 90%, be sure to budget seeds, gifts and benevolence in your budget.
There is an article online today that will also help with budgeting -->
http://finance.yahoo.com/expert/article/mo... This coaching tip is a part of the Thursday Night Live! Tele-training titled, "How to Survive the Current Financial Crisis, Pt. 2." Log on to our new Listening Gallery to listen today! The next Thursday Night Live! is scheduled for Thursday, December 4th at 8:00 pm CST (adjust to your time zone). The topic for that call is "Keys to Success: Walking By Faith."
Deaquelynn Williams
Owner & Life Coach
Business: (205) 588-4960
Web:
www.QuelynnInc.com "Catapulting women to their wealthy place..."
Posted By: The SISTAHS Ministry
Monday, November 10th 2008 at 12:02PM
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