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.
