Each spending decision is a spiritual decision

People who have a problem with over-spending usually go through denial. “I know that I’m not spending that much” is a familiar refrain. In my experience, only a few people with debt problems have been using a spending plan. They may have had one, but they have not been using it. A spending plan facilitates planning ahead and controls the biggest financial goal killer of them all: impulse spending.

God owns everything; therefore, we must conclude that each spending decision is a spiritual decision. When we realize it is not our money, we will ask God questions like: Heavenly Father, do you want me to spend your money on this new dress? Or Heavenly Father, do you want me to spend your money on that new car when my car runs fine? If we can ever reach that level of understanding, our spending becomes a spiritual issue.

Putting together a spending plan is crucial to avoid spending your way into serious problems. It develops a habit that can serve you well for a lifetime. A spending plan makes a personal commitment to managing money based on Biblical principles instead of letting your money manage you.

The first step in designing a spending plan is to track how you are spending money now. It is hard to resolve spending problems when you don’t know where the money goes. To track current spending, review two or three of your recent bank statements to get an idea of current monthly expenses and monthly take-home pay. Then from your review of your bank statement, use our spending plan analysis worksheet to record how much you want to budget on each listed category. Update it frequently.

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