Financial Fitness 101

Rule #3

Create and Use A Budget

The most important aspect about a budget is having one. My parents have been telling me this for years (my dad even installed budgeting software on my computer!). Since my love for shopping continues to grow, I decided that budgeting is a must. First of all, it is Biblical to be a good steward with what the Lord provides and second, it is wise to listen to your parents. I’ve decided to use the paper format for budgeting (old fashioned, I know) because the software I have is complex and more detailed than I’d prefer.

My desire is to start off with the paper version and work my way up to the electronic version. I also hope to be more resourceful with my spending and to stop buying things I don’t need. For those of you who are new to the world of finances, one great tip is to tithe 10% of your income, save 10% of your income and live off of 80% of your income. Even if this seems overwhelming to you, it is better to implement these procedures sooner rather than later.
When it comes to using money, a little self control goes a long way (. . . I hope)!
Love,
Lolo

P.S. For those of you who are starting out as I am, here is the budget printable I am using.
You can download it for free by clicking the image.

2 comments

  • That's a good idea. I've been trying to save for a while, which goes ok (in parts) but I do end up spending money on random junk. Another thought I just had which I think I should try to do also is to pray more about how God wants me to use my money. I suppose I usually just tithe and then go well God's part of my money is taken care of – but He's the one who gave me all the money in the first place! Thanks for the reminder 🙂

  • You're welcome, thanks again for the comment! I too should pray about how He wants me to use the money He has entrusted me with. I want to find a charity to give to consistently, maybe one that is here in my country and one that is in another country. I really feel convicted that I need to give more to others when I read Proverbs 31: 20, "She opens her hand to the poor and reaches out her hands to the needy" (ESV). I also read your 30 Before 30 list and think it's awesome that you are sponsoring a child in Ethiopia. I hope that I can do something similar!

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