One Money Design

Why would you ever want to have a family budget? Doesn’t that mean you no longer can have fun and hold the freedom to do whatever it is you want to do with your money? Not exactly. In fact, having a budget will give you more freedom. Keep reading.

First, if you have financial goals, as most of us do, you’re going to have a hard time achieving them without a monthly plan to help you stay on track. If your goal is to become debt free, a monthly plan that determines how much money is to be allocated towards debt payments is essential. A spending plan or budget also helps avoid over spending. Over spending takes money away from important areas such as savings, debt reduction and giving.

Second, having a budget is a Biblical principle of good stewardship. God expects us to manage his resources well. Over spending and not moving in a direction towards debt reduction or financial freedom isn’t God’s plan for our lives. For more on Stewardship, read the article titled God’s Money Design.

I hope you consider these two reasons important enough to establish your family budget. Can you think of other reasons?

Related Posts:

• What the Bible Says About Money: Financial Stewardship
• Boycotting Products or Investments: Good Financial Stewardship?
• Howard Dayton: Back to the Basics of Managing Money
• The Financial Steward Hat
• The Cone of Uncertainty and How it Impacts Your Personal Spending Plan
• Managing Your Money Wisely – Defined
• Money Management Principles
• Time For A Financial Counselor?
• Four Commitments of a Wise Personal Money Manager
• Biblical Finance 101