Page 45 - Managing Your Resources - Student Syllabus - short combined

and how they were used, God requires us to keep a good account of what we have and what we use.

Luke 16:1 Jesus told his disciples: “There was a rich man whose manager was accused of wasting his
possessions. 2 So he called him in and asked him, ‘What is this I hear about you? Give an account of your
management, because you cannot be manager any longer.’

A budget is a plan in order to keep track of our management of resources so that we can be ready to
give an account to God.

I Peter 4: 5 But they will have to give account to him who is ready to judge the living and the dead.

On the next page is an example of how one person created a budget using Excel. The columns could be
adjusted to read: Category, Description, Budget, Actual, % net. The “budget column” is where you
enter the amount you plan to spend in this description within the category. The “actual” column
accounts for what you actually spent. The “% Net” is the amount of what you spent as a percentage of
the total income. For example, if you spent K 200 on food and you receive K 2000 per month, you spent
200 divided by 2000 or .10 or 10% of your net.

The second section is a free download from Dave Ramsey at Crown Ministries using his system of
budgeting. He also recommends the envelope method of financial management, which we will consider
later.

How to Manage Your Money (50/30/20 Rule)

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