Frugal Fridays – The Budget

“Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment.” (1 Timothy 17)

Washing out a bread wrapper to repurpose it as a sandwich wrap. Buying a book of matches to keep in the bathroom as a quick and inexpensive way to eliminate odors. Wearing a pair of jeans twice before washing them. Combining errands to save on gasoline. None of these practices by themselves will make a big dent in your budget. However, when combined with a host of other money saving practices, they may.

Another important practice—probably the most important one—is budgeting.

Yes, I know that’s almost a “dirty” word for many people. However, this is a skill that should be taught from grammar school on up through college until it is second nature. I cannot tell you how many people I know who don’t know how to manage money. The concept is completely foreign to them.

One of my ex-husbands (yeah, one of those rare times I’m bringing one of them up!) looked at his paycheck each month. For the sake of this exercise, let’s say he earned $2000 each month. His rent/mortgage payment was $1200. He paid $150 per month for electricity, $300 for groceries, $50 for his phone, and $150 for heat. A cable company offered him this great-sounding package for $150 each month, all the movie channels. He’d jump on it. He can afford it. He makes $2000 a month. Forgotten was the grand total for all the other expenses he had: $1850. Yes, there’s another $150 available there. But, he neglected to include gasoline for his car. Ditto for taxes, oil changes, tires, etc. He smoked. He drank beer. None of that was budgeted either. He maxed himself out and then, when something broke and needed repair or replacement, he had nothing to fall back on, and nothing saved. Instead, he’d fall behind, robbing Peter to pay Paul.

Sometimes that happens anyway, no matter how carefully we budget. Layoffs, recessions, injuries, illnesses, even some discriminatory actions that may crop up from time to time, may have an impact even with a budget. My own circumstances are like that. The new mortgage payment, amortizing in all the overdue payments from the injury in 2019, is quite high and doesn’t leave a lot of wiggle room…especially with intermittent running water requiring Mom and I to buy it in. But, this overall circumstance didn’t arise from a lack of budgeting. It’s been a lack of income. You cannot budget what isn’t there in the first place. However, having a budget–complete with some sort of savings plan–certainly helps. Having a budget lets you see just where you might be able to cut some corners to ease some of the burden.

Having a budget can also help when looking for a new job. If you need $2000 a month just for your most basic needs, you need a job that pays at least that much. Or you need to find something you can do on the side to generate supplemental income.

I used to pet sit on the side. Having a budget helps with side hustles, too. The client may be willing to pay you $20 a day to take care of their pets for them but, if you have to drive an hour each way to care for them, you’ll lose money on the gasoline you’re using. If things are tight, will you even have the gas money to put into your tank in the first place so you can get to the job?

A budget is a means of preparing for as many eventualities as you can. It won’t shield you from every calamity but, having a budget—especially one that includes some sort of savings (even if it’s just spare change; amazing how quickly that adds up)—is one of the most empowering skills you can have. Budgeting takes you from being a victim of circumstance to being a survivor…and a confident one at that.

May God bless you & keep you!