Pro Tip: Make a Budget

I love what the verses Luke 14:28-30 says. The New International Version reads “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? For if you lay the foundation and are not able to finish it, everyone who sees it will ridicule you, saying, ‘This person began to build and wasn’t able to finish.’” When Jesus said this, he was explaining to the crowds of people that were following him that they needed to consider exactly what it would cost to follow him. He wanted them to know that it was going to be a tough journey to follow him. I just love the fact that he used a budgeting metaphor to get his point across.  

Whenever we are making a big financial decision, it is important that we have a plan for our money to fund whatever decision we make. We have to have a budget in place to make sure we know where our money is and what it is going to be spent on. Let’s say you’re going to build a house. You will have to get estimates for all of the expenses that will be part of building that house. Then, you will have to get an estimate for what the mortgage payments will be after the house is finished to make sure that you will have enough money to pay for your new house.  

Or maybe you want to retire. You will need to plan out and estimate what your monthly expenses will be to make sure that you will have enough income to cover those expenses. If social security isn’t enough to cover your anticipated expenses, then you need to build your current budget so that you can set aside money each month to invest in retirement accounts. The last thing you want in retirement is to be unable to enjoy what is supposed to be the best years of your life because you are dealing with the stress of financial insecurity. Maybe you’re in your 20s and you think that retirement is a lifetime away.  If that’s the case, then let me say that the earlier you start saving in retirement accounts, the more time you will have for compound interest to work in your favor and the more money you will have to spend in retirement. Even if you can only afford $25 a month – that’s where my husband and I started! – at least it’s something it’s better than nothing. Maybe you’re in your50s and you’re concerned about not having enough money saved for retirement. If that’s the case, then here this: it’s not too late to start.  

Maybe you want to pay for college for your children. College is expensive. You’re going to have to figure an estimate for what it is going to cost and start setting aside some money each month so that you can have enough saved up when it comes time for your kids to go to college. Or maybe you want to college. Either way, the same is true: you have to estimate the cost and plan accordingly. Otherwise, you might find yourself racking up some hefty student loans. Whatever your financial goal, you are going to have a much easier time if you create a budget than if you don’t create a budget and just hope for the best.  

If you are on social media, go give my pages a like or a follow! You can find me on Instagram and Facebook @survivetodaybudgeting. If you like this blog and you think that other people might benefit from reading it, share it on your Facebook page and tag me @survivetodaybudgeting. It really helps! 

If you would like some one-on-one advice on creating a budget or creating a plan to avoid or get out of debt, click on the Budget Coaching button below or contact me to schedule a free consultation call! Also, if you haven’t already, sign up for my monthly newsletter! I will be sending out exclusive content each month and you will get a free budget guide as a thank you for signing up! 

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Published by Myranda Griebel

It is my goal to reach as many people as possible that need help, guidance, or advice with any aspect of budgeting so that they can work toward living the life they deserve and desire.

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