Okay, scratch that. This isn't really about budgeting. Well, we're still gonna talk about personal finance, but I'm loosely using the term "budget" to refer to handling your money correctly.
So why do you need to handle your money the correct way? I mean, why bother if you're going to get paid in another two weeks' time? This is precisely the mindset that you need to get rid of - unless you want a paycheck-to-paycheck lifestyle. In Filipino, isang kahig isang tuka. Unless that's precisely your plan (seriously!), please consider these reasons why you need to handle your money wisely beginning today:
1. Because you owe it to yourself.
Let me tell you a secret: budgeting or handling money wisely isn't as restrictive as it sounds. Sure, it can be hard at first especially if you need to get rid of many bad money habits - they are, indeed, a bad habit to break. However, it's called financial FREEDOM for a reason.
a. Because you shouldn't have to worry about money.
I haven't achieved that ultimate status yet, but this early, I'm already reaping little rewards here and there. For example, I don't have debts of any sort. If one of my stuff at home breaks (such as my blender, my camera, and Yuri's crib, well almost), because I have a little bit of cash saved, I can easily replace them. No debt or installment plans needed.
b. Because you don't need to keep up with the Joneses.
For me, the best part about instilling good money habits is never having to worry about paying for something I don't afford. I don't anymore bother with keeping up with the latest trends and gadgets because I try to live within and below my means.
c. Because you need to be faithful with little before you can handle the large.
Apart from that, if you aim to live a more comfortable life, you need to be faithful with the finances you are handling now (Matthew 25:23). I believe we get even more blessed if we achieve the right amount of wisdom to handle the upgrade. Now it's no wonder why lottery winners lose all their money so fast: they haven't gone through the test of being faithful with little.
d. Because what you are in the future depends on what you do NOW.
To be completely upfront, I've never heard of anyone with bad money habits who became truly successful in life. There was never a gambler or a squanderer who lived a truly successful life. And before you tell me about tycoons and politicians, what I mean by "true success" is personal, financial, and relational success. The works. If you want a bright future for yourself and for your family, the first step begins now.
It's very liberating once you realize you're not a slave of money after all. Au contraire, money should be your slave! And this is a benefit you should not deny yourself.
2. Because you owe it to other people.
Have you ever heard of the saying, "Live simply so that others may simply live?" I never understood this saying until I got into personal finance. Slowly but clearly, I began to understand it. We are stewards of God's blessings. We often say this but don't take it to heart: God blesses other people through us. How? Through the money we earn!
It was a "duh" moment for me. Some people need to depend on other people just for their basic needs. Fortunately, many of us are blessed to have more than what we need. Unfortunately, the extra money we have goes to financing our wants.
Congratulations! You just made Henry Sy even richer!
Think about this: how many people could have been fed by the money you used to buy the latest iPhone model or for that payday shopping spree? One? Twenty? The number doesn't really count; what counts is that we selfishly prioritize upgrading our lifestyles over feeding a hungry mouth.
Mark 10:21It's so sad when God's blessings do not go to those who really need them. That's why the call toward wise money management should not be ignored.
Jesus looked at him and loved him. “One thing you lack,” he said. “Go, sell everything you have and give to the poor, and you will have treasure in heaven. Then come, follow me.”
3. Because you owe it to God.
Inside your head, you might say, oh here we go again with the Christian propaganda. Well, here's a reality check: your money isn't even yours in the first place. It's God's.
a. Because giving is God's plan.
Like what I mentioned earlier, we are merely stewards of God's blessings. We are to be vessels of abundance, which is to be shared with others, especially the less-fortunate. Our financial blessings are not really ours to accumulate.
In other words, we are called to GIVE. This is a God-designed system, which the first Christians strongly followed (read more about their lifestyle in Acts 2:44 - 46). I believe God blesses us so that the blessings can freely flow to others, and that design we should not interrupt.
However, when we prioritize spending money we don't have to upgrade lifestyles (to impress people?), this system is ruined. And this doesn't please God.
b. Because tithing is a God-ordained responsibility.
Aside from giving, we are also called to tithe. It's Biblical and shouldn't be even contested.
Malachi 3: 10In fact, it is very clear that offering is God's language. Reading through the Old Testament, one can easily see how many pages are devoted just for describing the right types of offering. We honor God with our offering, and this includes material and financial offering. In fact, Jesus Himself was an offering. My point is that part of what we earn is reserved for God and shouldn't be touched at all, and regular and faithful tithing can only be achieved through good money habits. News flash: bad money habits don't please God.
Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,” says the Lord Almighty, “and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it.
Malachi 3:8c. Because God hates sin.
Will a mere mortal rob God? Yet you rob me.
“But you ask, ‘How are we robbing you?’
“In tithes and offerings.
I'll be honest. Bad money habits cultivate sin. If someone always feels the need to upgrade to keep up with others, he is committing the sin of jealousy. If someone accumulates material things to inspire envy, he is committing pride. If someone always gets into debt, many possibilities of sinning rise. You can connect the dots. And since God hates sin, bad money habits can actually lead us away from Him.
1 Timothy 6:10Yes, it is Biblical that it is God's plan to prosper us (Jeremiah 29:11), but the purpose is not to accumulate wealth. The purpose is not to take pride in material stuff. The purpose is to share it, bless others, and glorify God through it. To please God, it is very, very necessary to handle our blessings wisely.
For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.
To sum up this post, the three reasons why you need to handle your finances properly are these: to gain personal financial freedom, to bless the less fortunate, and ultimately, to fulfill God's plan.
I'm pretty sure there are a lot more reasons out there, but in order to establish a strong foundation in your journey to financial independence, these are what you need to know.
So before you incur yet another debt for a gadget upgrade, I hope you consider your debts to yourself, to others, and to God first.
Happy Friday! :-)
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