5 Reasons You Need A Budget, Even If You Have No Income

 

Last week, we struck a chord with encouraging others to re-assess their goals after the quarter of the New Year.

To our surprise, we found out that some hadn’t bothered re-assessing their budget goals because they didn’t feel the need to have one.

The complaint was: what’s the point if I don’t even have enough money to live on? I don’t need a piece of paper to tell me what I know.

Well that might be a fact, but the truth is, with that attitude you will always be broke, and never have enough.

Even if you live check to check, or better yet, you don’t have steady income, you need a budget even the more! Why?

 

1. Because, knowledge is power.

When you’re aware of what’s due, even if you don’t have it, it allows you to pray effectively and use discernment when you receive an unexpected blessing!

 

2. Because, a wise person should count their cost.

The Bible tells us how important it is to stop and count the cost in Luke 14:28, which says: “But don’t begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it?”

The fact may be that you’re low on funds, but the truth is, you should know exactly how much it takes to run your household!

3. Because, if you don’t know how to manage your money now, while seemingly it’s not much, you will not suddenly know how to manage thousands of dollars.

Have you heard the statistics of people who win the lottery end up bankrupt within a few years? This is mostly due to winners not knowing how to manage their new found fortune. Here are just a few articles that touch on this subject.

 

-Daily News: Tragic stories of big jackpot winners.
-Fortune: Why so many lottery winners go broke.

 

4. Because, to live effectively within the priorities of God you need to be able to manage your money.

We are not blessed for our four, and no more. No. We are blessed to be a blessing. This means, we need to be in a position to give when God says to give, and go on a date night or family vacation when needed.

It’s not peaceful to go on a date or take a vacation when you can’t pay your bills. By accounting for those things in your budget, it allows you to enjoy those moments without worrying about whether or not you will be able to pay your bills after enjoying down time.

 

5. Because, it creates an awareness of good stewardship.

We are told in 1 Corinthians 14: 40 (NKJV) “Let all things be done decently and in order.” Going out to dinner without paying your light bill is not doing things decently and in order.

Waiting on the things we want, to make sure the things we need are taken care of; displays good stewardship.

We are God’s caretakers, and we have the responsibility to be good stewards of what He has given us. Making good financial decisions; allows God’s money to be used effectively in our life.

There’s a wealth of knowledge available to us in money management books, creative budget worksheets, spreadsheets, and apps to help us stay on track. With the influx of social media sharing, not finding a resource to use is just another excuse for not taking ownership of knowing your own financial picture.

If you’re tired of living check to check, or tired of wondering how the bills are going to get paid, then start with taking ownership of knowing your situation by creating a budget.
It will do one of two things. It will either confirm what you know or discover what you don’t!

If you know you don’t make enough, once it’s down on paper, you will see it. You will become aware of it, and hopefully, it will prompt you to think about how you spend your money.

Or you will discover that you are actually spending more than what you make. As a result, it will force you to make serious changes.

We do want to warn you that it won’t be a fun process. However, the power of knowing will be worth it. By yielding to the process of consistently working on your budget (by reviewing and constantly make changes), you will learn to live within or even below your means.

Some may ask what if I don’t have a job, and still have bills? That’s a good question, yet that doesn’t mean you shouldn’t have a written budget of what your expenses are.

What if someone happened to call you and say, hey God put you on my heart to take care of your expenses this month. How much are your monthly bills? What are you going to say? Um, can I get back to you? No!

A good steward would be ready to answer that question. That’s because, a good steward doesn’t just manage money that’s in their hands; a good steward manages money period, whether it’s in their hands or not.

Whatever your excuse has been for not having a budget, forget about it! Purpose to know your financial status, and acknowledge how you spend your money. Then take ownership for where you are and where you want to be.

To help you take this step, we’ve included a quick and easy budget you can print from our library. 

~ André and Timberley Gray