You don’t need a Budget if you can answer yes to the below 8 questions!
I have recently had people ask me if it is always necessary to use a Budget. Below is a test for you to take to determine if you are ready to manage the resources God has given you without one.
Test Questions:
Is your Consumer Debt all paid off (i.e. - credit cards, auto loans, etc.)?
Did you buy your last vehicle for cash?
Did you pay cash for your last vacation?
Do you give more than 10% of your gross income to your local church and ministries you support?
Is your Mortgage paid off?
Is your retirement fully funded?
If you have children, is their college education fully funded?
Are you 100% confident you spend less than you make each year?
If you answered “NO” to any of the above questions, you need a budget!!
Proverbs 27:23 tells us “Be sure you know the conditions of your flocks, give careful attention to your herds”
In our world, our flocks and herds are the assets that God allows us to steward on His behalf. A budget is an important tool to allow us to manage God’s resources well. Would you entrust your money to a manager that did not use a disciplined process to ensure your money was used effectively? Would you give that manager more of your money to manage if they could not tell you where your money was being spent and invested?
A budget does take some time and energy, but it is essential to ensure we manage God’s resources faithfully and show Him that we can be trusted with more.