Wednesday, November 28, 2007


Very few people ever bother to budget, which is why so many people are in debt. Few really realize just how much they spend on worthless expenses and in the end regret for the expenses they’ve made. If you want to keep your spending under control, it’s essential that you make a budget. What is a budget? A budget is a written plan on how to manage your money. A budget allows you to get a handle on the flow of your money⎯how much is coming in and where it goes to. With that information in hand, you can make intelligent choices about how to spend. In order for us to gain financial freedom, we need to be conscious of things and attitudes that are crucial to our finances. A budget is one such thing.

Goals of Budgeting
What are the goals of a budget? I made an acrostics of the word called BUDGET.

B for Boundaries⎯If you know your boundaries and set your limits for your expenses, you’ll able to live within your means. It also helps you stay away from debt.

U for Unwanted stress and pressures⎯Bills and utility expenses should be expected month in and month out. So if you have set aside the money before it even comes, it helps you relieve unwanted stress and pressure in life.

D for Debt-free⎯A written budget is a key to succeeding at being debt free. This may mean eliminating costly activities such as getting rid of cable, traveling less, eating out less, and watching fewer movies. It also helps you know how much money you can devote each month to paying off debt.

G for Generate more and give⎯It will help you to determine specifically how much money you need in order to meet your needs. It will also help you know how much you want to believe God for excess in order for you to be a blessing to others. God will take whatever you give to others and give it back to you. Remember what we sow is what we reap.

E for Eradicate impulse buying⎯It helps you manage your money effective, you need to fight impulse-buying tendencies and stick your spending to your budget plan. When you enter a supermarket or department store, normally you will see many items on sale that may trigger your impulse to buy. Hence, when you have a budget, you must be firm on how much you want to spend. If you are kind of person who cannot control his spending habit, leave your credit card and extra cash at home.
Remember, if you don’t have it, you can’t spend it.

T for Trust God⎯It will help you determine how much money you need to ask and trust God for more. Believe that He will provide not only for our needs but also for the desires of our heart.

1 comment:

cinderella guinto said...

hello, this is cinderella guinto. i just want to ask an advice regarding my status now. i'm a teacher in a private school. i've been working for more than 5 years now in this school where i am and yet my salary is still 9000. actually, this budget is enough for me until i got married and get pregnant. my husband's salary is lower than mine so we really have to carefully and wisely budget our money. thank God we are able to have enough for our everyday needs, but honestly we can't have savings anymore for the future. so i decided to resign from my work and go to a public school. but my real concern is this: i love the place where i was working but i had this burden re: the way the school owner budgets the school finances. how can you assess his decision that for more than 3 years now, new teachers coming are receiving an income below the minimum wage required by DOLE. when DOLE came and sanctioned the school, the owner still didn't give the salary required but told the officers to just ignore the DOLE. and nobody seems to go and complain to DOLE because evryone is a Christian and seems not to have the guts to complain including me. evryone of us just murmured behind the owner's back but doesn't really have the guts to tell him that what he was doing is wrong. he was expoanding his school by adding more annexes but when it comes to teachers' salaries, he would say that the budget IS NOT ENOUGH. like me, i was never regularized, still yearly signing a contract, no work no pay, no vacation and sick leave benefits, no healthcre benefits, but thank GOD we have sss, philhealth and pag ibig. he would always say that this is a ministry and everyone should scrifice because he himself and his family sacrificed for the "ministry" - the school. so our slaries are not raised up, and for 11 years of the school, the school is expanding but the teachers' salaries are benefits are still poor. i had the burden to tell all my concerns to the owner but when i tried before he even said that we were murmurers .