Ok readers, I agree….budgets CAN be very boring. A bunch of numbers, a bunch of totals; restrictions on anything and everything it seems!

But the truth is, budgets are not meant to restrain you, but to free you. Some short-term restraint now….but in favor of some long-term freedom!

Budget does in fact bring some very good benefits that you cannot afford to live without. The word budget sounds very boring. It can even sound a little intimidating! The very word seems to spell work, details, recordkeeping—bringing up all sorts of unpleasant visual pictures. But it really isn’t all that bad. In fact, budgets are a way of life for all companies and families who need to get control of their finances. Families who have everything under control and who are financially free still need a budget.

Like it or not, money is an important part of our lives. While it is true that money cannot buy happiness, it is also true that when it comes to spending more than we earn, the lack of money can contribute to much unhappiness.

If properly managed, money can enhance family relationships and can be a springboard for family discussions that will help the entire family pull together for common goals. Not properly managed, money can potentially become a real curse.

Budgets aren’t records of expenses; they are forecasts of expenses. And preparation of a meaningful budget (as opposed to a wishful one) depends largely on that first step, keeping accurate records.

A budget is the most fundamental and most effective financial management tool available to anyone, whether you are earning thousands of dollars a year or hundreds of thousands of dollars. It is extremely important to know how much money you have to spend and where you are spending it. A budget is the first and most important step toward maximizing the power of your money.

Budgeting is Scriptural

Scriptural guidelines for budgeting can be found throughout God’s Word. For instance, Proverbs 27:23 says, “Know well the condition of your flocks, and pay attention to your herds.” (NASU) If you don’t happen to have any herds and flocks, God is probably saying, “Know well the condition of your clothing budget, your housing budget and your food budget.”

Tailor-made for Your Life Situation

Each person or family has different needs. There is no one budget suitable for everyone. The single person with no family has different needs than the single parent with three kids. Money management for the 61-year-old couple planning for retirement will be very different from the 21-year-old newlyweds. And the couple with no children certainly have different expenses than the parents of children. Even greater expenses occur when the children reach college age. Each of us has different goals, therefore a different plan and a different budget is needed. It must be customized for each individual circumstance. Each budget is neither right nor wrong—just different.

Do you have a budget? Do you follow it? Experiences? Write your comments now!

Content © Rich Brott, 2011

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