HOMEMAKING 3: BUDGETS
What is a budget anyway? It is a systematic way to handle your finances. But, it requires
discipline! It is well worth the reward and brings about freedom from indebtedness, and peace. If
you’re not going to stick to it, however, forget it.
The Bible tells us to owe no man anything but love. Not to get into debt with credit cards, car
payments that we cannot afford and so forth. It is OK to buy something if you can sell it for as
much as it cost you. For example a house. It usually goes up in value or at least you can get the
same as you owe on it.
Example of a budget:
The first fruits go to God. God says to give the first fruits to Him. This would (in our culture) be
our tithe and offerings out of what you earn. So the first thing on your list as a budget would be
your offerings to God, tithe, missions giving, building fund, benevolence fund, food for the hungry
and etc.
If you are paid weekly, that has 4 & 1/3 weeks in each month. As every 3 month has 5 weeks in it
if you are paid weekly.
Just as an example of a 5 week month:
Week 1 Week 2
Tithe 22.50 Tithe 22.50
Offering 2.50 Offering 2.50
Gasoline 15.00 Gas 15.00
Wash 1.50 Wash 1.50
Food 53.75 Food 53.75
Rent 35.75 Rent 104.75
Clothes 15.00
Gifts account 10.00 Total 200.00
Car ins 30.00
Phone 14.00
Total 200.00
Week 3 & 4 same as week 2.
Week 5 (every 3 months)
Tithe 22.50
Offerings 2.50
Food 53.75
Gasoline 15.00
Total 93.75 $893.75 would be your income
Naturally, you would adjust these figures to equal the amount you earn each week and perhaps
add some items not mentioned here, but this just a simple guideline as how to divide it up,
depending upon when the rent and etc come due. Utilities are not mentioned here, so they need
to be added and so should entertainment, and perhaps some other things.
I use to have the envelope system, where I took the check, cashed it, and divided it up into
envelopes with these categories written on them. Then when it came to grocery shopping, I tried
to not spend the full amount in that week’s amount, so I could take the difference and put it
somewhere else (like going out to eat!) ha ha
If you were paid every 2 weeks you would divide up your bills into 2 categories. I don’t think the
5th week ever affects you one way or the other if you are paid every two weeks.
For monthly paychecks follow the original sheet but you have to divide 4 & 1/3 weeks into each
month for food and gas and wash or other weekly expenses. Same as if paid weekly.
When raises come, stay on the same budget. Cover the increase on your tithes & offerings and
begin to add new section that you needed to add. Add an entertainment section. Add a medical
section and a car repair section as well when you are able to do so. Eventually you will finally be
able to add a SAVINGS section to your budget.
This is just a SURVIVAL budget at first and then can be added to, but the principles are the same.
I know I haven’t covered all your expenses you have, but list all your expenses you do have, and
see if you can make what comes in match what goes out, so you do not have to always live in debt.
Also, get rid of the credit cards as soon as possible. Do every-thing you can to pay them off. The
interest will eat you alive and is almost impossible to catch up on. If you need to have credit cards
at all, then get them all paid off. Then pay off your credit card each month in FULL. That way you
will not have any interest to pay and are able to begin using your credit card to YOUR advantage
instead of the credit card company using YOU to THEIR advantage.
I have a friend who writes in her checkbook log each item she puts on her credit card and
subtracts it from her checking account, so that when the bill comes, she has already set the money
aside for each purchase and is able to pay the credit card off completely when it comes each
month.
What is a budget anyway? It is a systematic way to handle your finances. But, it requires
discipline! It is well worth the reward and brings about freedom from indebtedness, and peace. If
you’re not going to stick to it, however, forget it.
The Bible tells us to owe no man anything but love. Not to get into debt with credit cards, car
payments that we cannot afford and so forth. It is OK to buy something if you can sell it for as
much as it cost you. For example a house. It usually goes up in value or at least you can get the
same as you owe on it.
Example of a budget:
The first fruits go to God. God says to give the first fruits to Him. This would (in our culture) be
our tithe and offerings out of what you earn. So the first thing on your list as a budget would be
your offerings to God, tithe, missions giving, building fund, benevolence fund, food for the hungry
and etc.
If you are paid weekly, that has 4 & 1/3 weeks in each month. As every 3 month has 5 weeks in it
if you are paid weekly.
Just as an example of a 5 week month:
Week 1 Week 2
Tithe 22.50 Tithe 22.50
Offering 2.50 Offering 2.50
Gasoline 15.00 Gas 15.00
Wash 1.50 Wash 1.50
Food 53.75 Food 53.75
Rent 35.75 Rent 104.75
Clothes 15.00
Gifts account 10.00 Total 200.00
Car ins 30.00
Phone 14.00
Total 200.00
Week 3 & 4 same as week 2.
Week 5 (every 3 months)
Tithe 22.50
Offerings 2.50
Food 53.75
Gasoline 15.00
Total 93.75 $893.75 would be your income
Naturally, you would adjust these figures to equal the amount you earn each week and perhaps
add some items not mentioned here, but this just a simple guideline as how to divide it up,
depending upon when the rent and etc come due. Utilities are not mentioned here, so they need
to be added and so should entertainment, and perhaps some other things.
I use to have the envelope system, where I took the check, cashed it, and divided it up into
envelopes with these categories written on them. Then when it came to grocery shopping, I tried
to not spend the full amount in that week’s amount, so I could take the difference and put it
somewhere else (like going out to eat!) ha ha
If you were paid every 2 weeks you would divide up your bills into 2 categories. I don’t think the
5th week ever affects you one way or the other if you are paid every two weeks.
For monthly paychecks follow the original sheet but you have to divide 4 & 1/3 weeks into each
month for food and gas and wash or other weekly expenses. Same as if paid weekly.
When raises come, stay on the same budget. Cover the increase on your tithes & offerings and
begin to add new section that you needed to add. Add an entertainment section. Add a medical
section and a car repair section as well when you are able to do so. Eventually you will finally be
able to add a SAVINGS section to your budget.
This is just a SURVIVAL budget at first and then can be added to, but the principles are the same.
I know I haven’t covered all your expenses you have, but list all your expenses you do have, and
see if you can make what comes in match what goes out, so you do not have to always live in debt.
Also, get rid of the credit cards as soon as possible. Do every-thing you can to pay them off. The
interest will eat you alive and is almost impossible to catch up on. If you need to have credit cards
at all, then get them all paid off. Then pay off your credit card each month in FULL. That way you
will not have any interest to pay and are able to begin using your credit card to YOUR advantage
instead of the credit card company using YOU to THEIR advantage.
I have a friend who writes in her checkbook log each item she puts on her credit card and
subtracts it from her checking account, so that when the bill comes, she has already set the money
aside for each purchase and is able to pay the credit card off completely when it comes each
month.
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