Budgeting: Your First Step to Start Well

At the close of the parable of the dishonest manager, Jesus makes a startling statement:

“So if you have not been faithful with worldly wealth, who will trust you with what is genuine? And if you have not been faithful with what belongs to someone else, who will give you what is your own?” Luke 16:11-12 (CSB)

God has charged us to be good stewards of the financial resources he gives us. How we manage our finances in this life has an eternal impact! Serving the Lord well in all aspects of this life on earth is practice for serving him in eternity.

Good stewardship begins with good planning. When it comes to wisely stewarding our financial resources, the way to start well is with a financial budget.

The plans of the diligent certainly lead to profit, but anyone who is reckless certainly becomes poor. Proverbs 21:5 (CSB)

At its most basic, a budget is simply a tool to help you account and plan for the money coming in and going out.

For some, the thought of budgeting invokes a frightful vision of complex software and spreadsheets. While many helpful and affordable packages and apps are available, for many, a simple pen and notebook are enough. The process of budgeting is simple, but the benefits are multiple.

• Financial Control A budget allows you to take control of your money so that it doesn't control you. It can make you aware of your spending habits so that you can prioritize essential outflows and cut unnecessary ones. Budgeting fosters discipline and contentment by encouraging saving and measured spending, helping you resist impulse purchases, all of which contribute to long-term financial stability.
• Reduced Stress and a Stronger Family A life in vocational ministry is stressful enough. You, your marriage and your family don’t need the added burden of financial stress. Knowing your financial situation and having a plan in place to achieve your goals can reduce stress and anxiety and provide better peace of mind. Including your spouse and family in the budgeting process can also help reduce money-related conflicts by ensuring that all of you are financially on the same page.
• More Freedom to Serve the Lord Proverbs 22:7 teaches that “the borrower is a slave to the lender” (CSB), meaning that the borrower has an unbreachable obligation to the lender. Debt is not necessarily bad and may even be necessary or unavoidable to achieve a specific goal (for example, owning your own home). However, with a budget, you can practice living within your means and avoid onerous debt (like credit card balances). You can control your debt level or even eliminate it by budgeting with a plan to pay it off. Without the heavy financial obligation of debt, you can better position yourself to be used by the Lord and take advantage of the ministry and career opportunities he may offer.
• A Stronger Financial Future With a budget in place, you can build a multi-level savings plan. You can create and maintain an emergency fund to prepare for those loops that life will throw at us. You can also develop a routine of setting aside money for short- or longer-term savings goals and be better prepared for life changes such as marriage, children or home ownership. And, of course, a budget can help you save for retirement early in life (the earlier, the better). You want a stable retirement in which you can continue to serve the Lord without worrying about your next paycheck. Tomorrow’s secure retirement starts with today’s budget.

Ultimately, a budget can remind us that our finances are God’s gift to us. The author of Ecclesiastes wrote:

Furthermore, everyone to whom God has given riches and wealth, he has also allowed him to enjoy them, take his reward, and rejoice in his labor. This is a gift of God… Ecclesiastes 5:19 (CSB)

Our culture celebrates autonomy and independence and applauds people for “having it all.” But the Bible reminds us that everything we have is on loan from God. He even gave us the ability to earn our paychecks.

When we sit down with our budget to calculate the money flowing in and out, we're watching God provide for us. A budget reminds us to thank the Lord for his provision as we see our daily, weekly and monthly needs met.

Not sure where to start? Check out our helpful financial planning calculators, including our home budget calculator. Also, browse and watch our webinars for tips on money management and good financial stewardship.

At GuideStone®, we want every servant of Christ to finish well. Our mission is to enhance the financial security and resilience for those who serve the Lord.

For more information, contact us at Info@GuideStone.org or 1-888-98-GUIDE (1-888-984-8433), Monday through Friday, from 7 a.m. to 6 p.m. CT to speak with a customer solutions specialist.

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