A budget is the tool provided in accounting terms that gives us the proper indication of how we stand in our finances.  Too often people refuse to prepare a budget because it seems cumbersome and boring.  A budget can be implemented in most homes but give only 1-2 hours per month.  That is not much time to have a clear indication as to where you stand financially.  Not only will a budget give you a picture of where you stand, it will help you organize your bill paying so you don’t get behind and have to pay late fees, and it will show you the debt you have so you can pay it off systematically. 

A budget is a guide that tells you whether you are going in the right direction so that you can expect to meet your financial goals.  You may have goals and dreams but if you do not set us guidelines for reaching them and you do not measure your progress periodically, you may end up going so far in the wrong direction you can never get out of financial difficulty.

• A budget lets you control your money instead of your money controlling you.
• A budget lets you control your spending habits.
• A budget allows you to save in a systematic manner.
• A budget allows you to meet your goals.
• A budget will tell you if you are living within your means.
• A budget will free up spare cash so you can use your money wisely.
• A budget helps the family reach realistic financial goals.
• A budget helps you prepare for emergencies (which will come).
• A budget reveals money spent unwisely.
• A budget will help you get out of debt.
• A budget will help you in your married life, family life, and help you worry less, which is what the Lord intended.

There are many people who do not use the means of a budget to track income and expenses.  The reasons for not using a budget may be many, but a few more common ones are: 

• Impatience – you want what you want…right now!
• Impulsive buying – Don’t take the time to think about spending.
• Too far in debt – feel like there is no help regardless of what you do.
• Lack of discipline – ouch!  We don’t like discipline…even financially.
• Habits are hard to break – and too often we don’t want to break them.
• No communication – secrets eventually come out however.

You can learn more about the importance of tithing & giving at http://www.pastoralhelps.com/where-your-treasure-is/

Aubrey L. Jayroe is an Accredited Tax Advisor; Accredited Tax Preparer; Licensed to Practice before the Internal Revenue Service; Certified Tax Return Preparer

For 40 years, Jayroe & Company has been providing quality, personalized financial guidance to churches, local individuals and businesses. Jayroe & Company's expertise ranges from basic tax management and record keeping services to more in-depth services such as reviews, financial statements, and financial planning.