Create a Budget or Spending Plan

Most people hate hearing the word budget.  I noticed a few years ago financial books and counselors started calling it a spending plan.  No matter what word you use, it’s still a piece of paper with how much money you should spend every month and hopefully not have a negative at the bottom.

The easiest thing to fill in on a budget form is your expenses that have set amounts such as your mortgage or rent, student loan payments, car payments, cable bill.  The next items are things such as your water bill, electric bill and telephone.  These are items that may vary from month to month but you should still be able to come up with an average amount.  The hardest things to determine are items such as groceries, eating out and recreation, clothing, etc.  If you are tracking your expenses, this is where the tracking will help the most.

Another way to determine amounts is to do research on what the national average is for spending on groceries, housing, clothing, etc.  I have included some links below regarding averages and blank budget forms.   

http://cgi.money.cnn.com/tools/instantbudget/instantbudget_101.jsp

http://www.crown.org/Tools/Calculators/Budgeting_SpendingPlan.asp?frmIncome=50000&frmTithe=4500&frmTax=7000&selection=1&Submit2=Calculate+Budget

http://www.kluth.org/suggestedbudget.htm

http://office.microsoft.com/en-us/templates/TC010233411033.aspx?pid=CT101172321033

I know that budgeting is not fun for most people.  It’s boring and can be disappointing at times when you realize you don’t make or have enough money to budget for the things you want or need.  But if you manage and budget your finances, you will find there will be less stress on your life and marriage. 

I leave you with a great verse:

Luke 16:11
So if you have not been trustworthy in handling worldly wealth, who will trust you with true riches?

If you have any questions or need additional resources, please leave me a note!  Good day – Dana

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