ByIn your own terms, how do you describe a budget? It might be funds set aside to do something specific according to plan. Or just money set aside to accomplish a precise purpose. Right?
Budgeting is widely practised in our generation. Although the word “budget” is not found in the Bible, there are several scriptures and happenings captured in the same Word of God that speaks of how important it is to practise it.
The purpose of money
Dr Myles Munroe of blessed memory is known for his famous quote: “When purpose is not known, abuse is inevitable.” So as I write about budgeting in this article, it’s first expedient to understand why money got invented way back in the Old Testament.
Money exists for three central purposes: to curb scarcity, fulfil a purpose and test man’s heart. You can read the full article here.
And so, with these purposes in view, budgeting becomes essential in seeing their manifestation thereof.
For example, if our ministry wants to purchase new devices for our staff writers, we must first set a plan for our funds’ usage, cut back expenses and allocate enough funds to accomplish this project. We can’t do this without budgeting. Isn’t it?
Let all things be done decently and in order
Sometimes, we leave out certain helpful practices for organisational usage and neglect incorporating them into our lives. There’s no organisation notable for good management practices without people in charge of handling funds wisely, as few as they may be.
In 1 Corinthians 14:40 (NKJV), the Word says,
“Let all things be done decently and in order.”
When Apostle Paul penned this writing in his epistle, he was referring to the Corinthian church holding services in an orderly manner. But I see it as applicable and beneficial to our lives.
If you’re a father, you know you’re anointed to care for your family. And to do this well, setting up financial structures becomes a priority. However, it depends on your knowledge level to do it well. You spend some, save some and give some to God.
With these three basic financial practices done with budgets in place for each segment, you shouldn’t run into so much trouble with finances.
It takes wisdom and vision to build wealth, whereas it takes foolishness to spend everything you get.
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God expects you to be a wise financial planner
Another reason budgeting is scriptural and essential is that God wants you to plan how you use your finances wisely, including the offering you commit to giving in church each Sunday or per week.
Paul said in 1 Corinthians 16:2 (NIV) that,
“On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made.”
1 Corinthians 16:2 (NIV)
He was advising the church members in Corinth to set aside funds to give unto the Lord each week according to how much they earn. See that? God wants your financial plan to be as detailed as possible, even to include your benevolent offering in church. But do you do that?
Many of the financial trials some of us encounter can be avoided if we practised simple Biblical principles.
3. It’s wise to save money
Saving money prepares and secures you from future financial struggles. And you cannot do this without suffering budgeting. It’s written in Provers 21:20 (AMP) that,
“There is precious treasure and oil in the house of the wise [who prepare for the future], But a short-sighted and foolish man swallows it up and wastes it.”
So it takes wisdom and vision to build wealth, whereas it takes foolishness to spend everything you get. The latter might be a hard truth, but please take it seriously.
When you get money, deduct the one you’ll save and give it to God first before thinking of spending the rest.
No matter how many things you need, there’s God, who has unlimited ways of giving them to you without your human struggles. When you get money, deduct the one you’ll save and give it to God first before thinking of spending the rest.
Your needs might not be met fully because of limited funds, but keep them in your “needs archive/notes” to get them later when you get new funds. Make it a holy practice not to spend your savings unless under very extreme conditions. The Lord is your help.
