Stewardship Well Done Journey

Step 2 – BUDGET

Roadblock #2 – I can’t budget because I can barely make ends meet.

If this roadblock applies to you, you are not alone! According to one recent study, nearly two-thirds of Americans (63%) say they have been living paycheck to paycheck since the pandemic began. This is a very real dilemma, and you can often hear the frustration and desperation in someone’s voice when discussing this roadblock.

However, even if you never have enough money at the end of each month, a budget is essential. It helps you know exactly where your money is going and provides a clear financial picture. You can’t address what you don’t understand! It can help identify areas where you might not realize you are overspending. And it can help you determine exactly what are “needs” and what are “wants” (sorry, but Starbucks is definitely in the “want” category!). Budgeting can also help you direct your funds toward the most essential items first, and be prepared for quarterly or annual expenses. Once you set a budget and track your spending, you may find you aren’t as short at the end of the month as you anticipated. You can then make adjustments as needed.

If you are living according to a budget, and still find yourself with more expenses than income, it may be time to ask some hard questions. Do you need to consider a different job? Can you find an extra source of income to make up the shortfall (extra shifts, turning a hobby into an income source, selling items you no longer need)? Is there a less expensive grocery store near you (such as Aldi)? Could a thrift store adventure help with clothing costs? Can you buy some things used instead of new? These are tough questions and we encourage you to pray often for wisdom and guidance and bring a trusted friend into the conversation for support.