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Budgeting: Know Where You Stand Financially
By Rick Warren

“Any enterprise is built by wise planning, becomes strong through common sense, and profits wonderfully by keeping abreast of the facts.” (Proverbs 24:3 LB)

One of the most important steps to financial freedom is making a list of all that you own, all that you owe, and all that you earn. This is called keeping good records! It’s the principle of accounting.

The Bible says, “By wisdom a house is built, and through understanding it is established” (Proverbs 24:3 NIV). You’re wise with your money when you know where it is, where it’s going, and where it’s coming from.

People say money talks. It doesn’t talk! It just walks away quietly. If you get to the end of the month and ask, “Where did my money go?” it means you’re not keeping a budget. When you have a budget, you’re telling your money where you want it to go rather than wondering where it went. A budget is simply planned spending.

Why is this principle of keeping good records and knowing what you owe and what you earn and what you own important? Because ignorance plus easy credit equals disaster. It’s a disaster!

When you go into a store, don’t take your credit card with you. If you don’t know whether you can afford it or not, you’re already in trouble. It’s stupid to decide before knowing the facts. It’s unwise to buy something before you know if you can pay for it. The only way to know where you stand with your finances is by keeping records and budgeting your spending.

Another translation of Proverbs 24:3 says, “Any enterprise is built by wise planning, becomes strong through common sense, and profits wonderfully by keeping abreast of the facts” (LB). Make your list, know the facts of your financial situation, and live accordingly.

Talk It Over

What keeps you from taking an honest look at your finances? What do you need to do it?

What are the areas of your life in which it would be most difficult to curb your spending?

How do you think God wants you to prioritize in your spending?