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Excuses For Not Budgeting


Christian talk radio with Rob West

May 13, 2022

It’s easy to come up with excuses, and when it comes to not having a budget, we’ve probably heard them all. Today on MoneyWise, we’ll list some of the top excuses for not having a spending plan and then help you move beyond them! What a lot of non-budgeters don’t realize is that most people eventually do get around to living on a budget. The trick is to set up a plan for spending wisely before you’re forced to by overwhelming debt. EXCUSES FOR NOT HAVING A BUDGET 1. I stink at math so I can’t budget. You don’t have to be Albert Einstein to set up a spending plan. The free MoneyWise app not only gives you three different options for setting up a spending plan and it does all the math for you. Getmore information here or download it wherever you get your apps and search for MoneyWise biblical finance. 2. My job’s secure, so I don’t have to budget. Okay, we still have a low unemployment rate and workers are in great demand, but doesn’t mean your job is bullet proof. People sometimes lose their jobs unexpectedly even in the best of economies. Everyone needs 3 to 6 months living expenses in their emergency fund, and that’s just about impossible without a spending plan. 3. I can always fall back on unemployment benefits if I lose my job. Have you checked out unemployment benefits in your state? They’re usually just a fraction of your regular income and oh, by the way, they run out. But if you’re living on a budget and saving, you can make any income go much further. 4. It won't happen to me. Talk about putting your head in the sand! We live in a fallen world, and bad things happen to people all the time. In Matthew 5 we find, For he makes his sun rise on the evil and on the good, and sends rain on the just and on the unjust. So again, you have to be prepared with a budget and an emergency fund. Now, some folks cringe just hearing the word budget. They say things like, A budget means you can’t have any fun. So don’t call it a budget. We like spending plan better, anyway. If you stick to one for a few months, you’ll see that a budget isn’t restrictive. It’s actually liberating. You have the same amount of money. You’re just deciding ahead of time where it goes. You still get to enjoy life. In face, even more so, because you’re not running out of money or going into debt to do it. A spending plan means peace of mind. That Friday night pizza tastes even better when it’s in your spending plan. 5. Now, here’s an excuse that in many cases is actually true: I’m afraid to set up a spending plan. Those folks don’t want to find out how much they’ve been spending on things they don’t really need. But you have to face up to it to enjoy the reward. In John 8, Jesus says, . . . you will know the truth, and the truth will set you free. You’ll probably be shocked to find out how much you spend on things like groceries and eating out. But that’s a good thing because it gives you something to work with. By trimming and planning your meals, you can free up a lot of discretionary income that you can put to better use. 6. Here’s another excuse for not budgeting that we hear a lot: I’ve tried to budget and it didn’t work. Well, that shouldn’t be a surprise. What life-changing practices work the first time you try them? So try, try again and be encouraged that learning to live on a spending plan truly will change your life for the better. Just brush yourself off and keep trying. 7. I don’t need to budget because I’ve always got money left over each month. Well, that may be true for now, but it’s usually temporary. There’s something called lifestyle creep. It means the more money you have available, the more you spend. Raises and tax refunds get gobbled up quickly. Then, if you suffer a loss of income, you’ll wish you had that money. . If God has blessed you with more than you need right now, that’s even more reason to use it wisely. A spending plan will help you be more intentional about your giving. It’s all God’s money anyway, and we should always use it to give glory to Him. So those are your top excuses for not living on a budget. We hope you’re not using any of them. If you need help setting up a budget, you can sign up with one of our volunteer coaches at MoneyWise.org. On today’s program, Rob also answers listener questions: ●Would you have to pay capital gains tax on a property you sell that has been both your primary residence and a rental property? ●How do you set up a special needs trust for a special needs adult child? ●If your spouse passes, would you have to pay taxes on life insurance benefits? ●How can you get ahead financially on a very limited income?

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