Getting Good With MoneySýnishorn

When it comes to getting your budget balanced, you’re going to have to determine which expenses are important to you and which ones are not. To me, living a real life on a budget all comes down to knowing what you want to spend your hard-earned money on and what you don’t.

To do this, list your priority expenses. What bills are the most important to your family? The obvious ones are, of course, your rent or mortgage payment, taxes, utilities, and food. After those, which discretionary expenses most contribute to the well-being of you and your family? For help, think back to your own particular vision of the dream life. Then look over all your expenses with a critical eye. With each expense, ask yourself: Does this help me achieve that dream? . . .

Perhaps your dream is to own a home or the exact opposite, like having the freedom to travel. Does your gym membership allow you to achieve that dream? How about all the streaming subscriptions you pay for? I’m not arguing that you will need to cut every little thing from your spending. I am saying that you should make sure you’re not spending mindlessly on things that don’t truly matter to you.

Here’s where you’re really going to have to battle against the cultures of YOLO (you only live once), FOMO (fear of missing out), and reality TV that sells you an ideal of what it looks like to have money. Your income is your greatest wealth-building tool. So if you spend it all, you won’t have any left over to build wealth. Right? I know that seems obvious, but the reality is we often mindlessly spend our money. It’s important to spend our money wisely and in accordance with our overall dreams and goals. As Jesus said, “Watch out! Be on your guard against all kinds of greed; life does not consist in an abundance of possessions” (Luke 12:15). Life is so much more than a flashy new wardrobe, an Instagrammable vacation, or the latest “great deal.”

Prayer,

Lord, please help me discern between needs and wants. I also thank you for providing for me so abundantly. Amen.