The reality for many people who don't budget is their expenses inevitably outgrow their income and leave them in financial turmoil. You must keep the amount of expenses below the amount of income in order to have financial peace in your life.
It's important to get an income and spending plan started now, because the longer you wait the worse your situation is likely to get. It is not necessary to log every single expense on a ledger for the next few months before you decide what route you must take to correct your situation. You already know your situation is bad and should be better. Simply sit down and figure every expense you’re supposed to pay each creditor each month by looking at your bill stubs and checkbook ledger.
Once you’ve figured the total amount that you’re required to pay all creditors, subtract that amount from your net monthly income as determined by your pay stubs. If you have money left over, this is the amount that you must use to buy personal items, build savings, and give to fruitful ministries and charities that help other people. If you have little or no money left over, then you need to devise a plan to: reduce the amount of monthly payments you must make; increase your income; reduce the interest rates at which your indebtedness increases; or do all three in order to get your financial house in order and build wealth.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 27:23-27, Habakkuk 2:2-4, Luke 14:28-30, 2Corinthians 9:6-10
Please forward these bondage breaking articles to other people who can use helpful insight!!!
You can find books authored by Randy Parlor and Karen Parlor at www.Amazon.com
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