- Creating a Budget-
Posted: Monday, November 09, 2009
by Lawrence Jones
Jones & Assoicates
Times are tough, and no one is talking about how to stay out of financial trouble and maintain what you have. We often don't think of money as being a life and death situation, but in reality it is. If we allow ourself the unfortunate event of out living our money, then we have not been good stewards over what was ours. God doesn't need money.
It is imperative we learn how to budget as a nation and save as families. The nation of China owns significant amount of USA property because there capitol buying power as a nation is quite significant. They are a nation of savers not consumers. We should fall prey to the labels and manipulation that the media uses through words that suppose to define our actions or behavior towards spending. Each and every individual that aspired to be financial independence and stable should redefine him or herself when it comes to spending behavior and labeling.
The following passage will strategic map out, structure, and explain the anatomy of a budget. It sounds simple but it is not. Budgeting requires the number one D word Discipline. This is lacking in today's culture of instant-quick-fixes via credit cards, pay-day-loans, and casinos
First thing , make a list of needs and wants. The basics should be at the top of the list. food, clothing, and shelter. These things are essential for daily living. Clothing category is little different for some of us. All of us don't need new pair shoes every month or a new suit. Some jobs only require uniform .
Thirdly , write it down on paper and add it up. You should know how much you got coming in from every source: first job, second job, third job, spouse income (significant other), small business, and odd jobs around the neighborhood.
Secondly, take time to collect receipts for what you have spent. Always get a receipt. It does matter how small or large of a purchase. Get a receipt for all products and services. It will keep you mentally conscious of what you are spending. It is a good deter ant from over spending. Tracking your spending help you stay focused on living within your means.
Fourthly , I would hope people would take time to look at attitude towards spending money. Attitude is everything. We spend according to mood, fear, and need. Advertisers know this. We must control the buying button and seek to keep more money in our savings accounts and emergency funds.
Finally, Let me repeat that God doesn't need money. He needs people to have money so that his work get's done on Earth. For example, believers, Christians, need money to feed the hungry, clothe people, and help build shelters for the homeless. Americans should use the financial crisis we are as a wake up call to put money away for a rainy day, and do like grand mother told us "Don't put your eggs all in one basket." In addition, if you need some guidance on establishing a budget go to Creating A Budget.
Lawrence Jones is author, poet and freelance writer. He deals with practical knowledge for every day living. Check out his column every week and see what is new for you to learn, apply, and live well.
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Top-level comments on this article: (2 total)Great article Lawrence. Discipline is the key, I agree completely, that is one thing very few people have. I have to make myself aware what I am doing is financially healthy. Thanks again for these brilliant ideas. Well-written as always. Best to you and yours, ~Nenita~Nenita,I welcome your insight and words of encouragement. I appreciate you coming back again and again.Sincerely,Lawrence
Good article, well written. I was looking for business budgets but still found it interesting and aspects can be applied to the business world. Thanks.Tim,Thank you for reading my work. I am glad it helped. I appreciate your kind words.Sincerely,Lawrence
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