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For the believer, budgeting is a demonstration of wise stewardship. Simply put, a budget is a spending plan; a tool to help you make the best possible use of the resources that God has entrusted to you.

  • Psalm 24:1 – “The Earth is the Lord’s…”
  • 1 Corinthians 4:2 – “Moreover, it is required of stewards that they be found faithful.”

Budgeting = Planning = Wisdom

Top 6 Reasons Why People Don’t Budget

  1. “It’s too hard…”
  2. “I don’t know how to make a budget, or where to start.”
  3. “I can make one, but I can’t stick to it.”
  4. “My budget doesn’t work.”
  5. “Budgeting is restrictive, it feels like a straight jacket!”
  6. I don’t need one!

Top 3 Benefits of Budgeting 

  1. Financial Freedom – Matthew 6:24
  • Matthew 6:24 – “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.”
  • Budgeting is not a straight jacket! It’s a roadmap to security and keeping you on the right path of stewardship. 
  • We become free to bless and serve.

2. Stronger Families & Churches 

  •  Since finances are one of the biggest sources of conflict in a marriage, budgeting can help keep spouses in alignment and potentially reduce marital stress.
  •  When a Christian couple agrees on spending priorities, they often see fewer arguments about money and their savings increase too.

3. Exercises our Faith. 

  •  Our faith is strengthened when we follow what the Word of God says.
  •  As we align our financial priorities with those of Scripture, we gain a deeper understanding and application of Biblical Stewardship.


3 Perspectives in Budgeting

  • Big Picture Perspective – What does your Ideal Month/Year look like?
    • Understand your financial responsibilities and goals for the coming months/year.
  • Behavioral Perspective – How have you been spending your money?
    • Look back and expose your current spending priorities.

These two perspectives are not wrong at all. If you can budget this way, as many do, and stay on course, then do so! But, let us introduce another perspective, which is a combination of the Big Picture and Behavioral Perspectives in budgeting:

  • Intentional Perspective – How can you reach your goals?
    • Consider your big picture goals and your past behaviors, then adjust accordingly.
    • The Intentional perspective allows one to look back at what they have been spending on, and also look ahead and see where they want to go, and blends the two together to form a spending plan that actually works!


The Budget Worksheet: Steps to Creating a Spending Plan that Works

  1. Complete a budget worksheet – Download the budget worksheet on our website at
  2. Record total household income (take-home).
    • Use your previous years tax returns or your weekly pay stub to get good numbers to work with.
  3. Identify and calculate expenses.
    • This may take some time to do.  It may be one of the most pain-staking parts of the process, but if done, and done well, it will catapult your budget into the right direction!
  4. Categorize expenses using the Biblical Sequential Priority Framework.
    • GiveWe give because God gave (John 3:16)
      • Work toward giving 10% of your income to your local church’s general fund.
    • SaveProtect your family. (Prov. 22:3)
      • Short Term Savings – Cash in savings accounts.
        • Emergency Fund
        • Planned Expenses
        • Long Term Savings (Investing, Retirement)
    • SpendBe timely and honorable with creditors. (Romans 13:7)
      • Necessity spending
    • Offerings – Set money aside to meet the needs of others. (Gal. 2:10)
      • Offerings may include giving support to the church (above the tithe), organizations, missionaries, and/or families in need.
    • Luxuries – Rightfully enjoy blessings above and beyond the essential needs of life. (1 Tim. 6:17)
      • It is good to rightfully enjoy what God has blessed you with. Spending money on luxuries is not wrong, but should be done after the previous four priorities have been met.
  5. Set realistic budgeting goals using the Biblical Sequential Priority Framework.
  6. Implement, monitor, and adjust your budget.
    • After you implement your budget, frequently monitor and adjust it as needed. Remember, your budget is “dynamic,” so adjust accordingly, especially at the outset.
  7. Be patient!
    • Be in it for the long haul. You won’t be a budgeting expert right away, especially in the beginning. It may be a tough first couple of months. But after you have a year of budgeting experience, the process will be easier to understand and control. Remember, it’s okay to make mistakes.  Make the necessary adjustments to get back on track. It will be worth it! 

Budgeting Tips

  1. Utilize budgeting tools. ( or our Budgeting Worksheet at
  2. Use a budgeting method that works for you.
  3. Give every dollar a name.
  4. Establish accountability.
  5. Avoid budget-busters.
  6. Take advantage of paystub reductions.
  7. Learn contentment.
  8. Give yourself grace.

Any and all tips on budgeting are very good and helpful!  But, if we rely only on those tips and tricks, we have missed a huge part of our personal budgeting process. God wants to be involved!

Budgeting is an Act of Faith

  • Faith is not a wish/prayer that it’s all going to work. Faith recognizes that God created math! It’s not math’s fault if your budget doesn’t work. Let the math be your guide. So when your budget doesn’t add up, prayerfully ask yourself these questions:
    • What budgetary changes do I need to make?
    • What lifestyle/heart changes do I need to make?
    • Am I relying on God or Mastercard to meet my needs? Prayer or Plastic? (James 4:3 – You ask and do not receive, because you ask wrongly, to spend it on your passions.
  • When we pray, “Lord give us this day our daily bread”, we need to really mean it.
  • Seek wisdom! Consult a Godly mature friend, family member, and/or church leader and seek their counsel. 


Points for Self-Reflection – Consider Your Ways

If you’re finding budgeting to be more difficult than you expected, take some time to consider your ways (Haggai 1). Reflect prayerfully on the following verses and see if God is using your struggles in budgeting to tell you something.

  • Am I not giving? – Proverbs 11:24
  • Do I ignore correction? – Proverbs 13:18
  • Am I making rash decisions? – Proverbs 21:5
  • Am I being stingy? – Proverbs 21:13
  • Am I chasing get-rich-quick schemes? – Proverbs 28:19
  • Has money or possessions become an idol in my heart? – Ezekiel 14:3
  • Am I living in sin? – Proverbs 5:29, 28:9, Isaiah 59:1
  • Do I have an unforgiving spirit? – Mark 11:25
  • Do I have a good relationship with my spouse? – 1 Peter 3:7
  • Am I dishonoring my parents? – Ezekiel 20:12, Ephesians 6:1-3
  • Am I doubting God? – James 1:5-8


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Material presented is property of The Stewardology Podcast, a ministry of Life Financial Group and Life Institute. You may not copy, reproduce, modify, create derivative works, or exploit any content without the expressed written permission of The Stewardology Podcast. For more information, contact us at or (800) 688-5800.

The topics discussed in this podcast are for general information only and are not intended to provide specific investment advice or recommendations.  Investing and investment strategies involve risk including the potential loss of principal. Past performance is not a guarantee of future results.

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