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Budgeting 101
- 1. Week 2: Creating a Personal/Family Budget Foxboro 2 nd Ward July 28, 2009
- 10. Budgeting: The Old Way Available for Savings Personal Goals Income Expenses Tithing
- 11. Budgeting: The Better Way Income Expenses Personal Goals Other Savings Pay the Lord Pay Yourself
Notas del editor
- Before You paid the Lord first, lived on the rest, and whatever money was left at the end of every month went into savings. Now You pay the Lord first, yourself second, and then live on the rest--your priorities are now in order And now you have twice the chance of achieving your personal goals
- If the church will not borrow, should we?
- He is saying to pay yourself a predetermined amount. I recommend 20%, but whatever you choose, pay yourself.
- Compare your budget to actual Adjust the plan or your expenses as necessary to maintain the plan Don’t reduce payments to the Lord or yourself If all else fails, this system will work! The Envelope System: Put money for each expense in an envelope, and when the money is gone, its gone It forces you to make it work (no cheating) The 60% solution Live on 60% of your income.