Budgeting Advice

Having a full time pastor for a husband means doing more home budget planning. That is what I have learned for the past year that my hubby has been in full time pastoring ministry. We have enough for our basic needs but of course, we also have some emergency needs and other educational needs too. We also need to save for our retirement too.

I have read some budgeting advice over the internet. One of the more useful advices that I have received is to make a list of the family's expenses then categorize them as "wants" or "needs". Then create a budget based on the family's needs. You can use paper and pen or you can use free budget planner.

You can generate reports which will show you where you are overspending. Then you can start making changes on the way you spend. Instead of buying food from restaurants or staying at coffee shops, you can opt to stay at home and enjoy your cup of coffee right at your own house. This will plan out how you spend your money. You can also plan to save at least 10% of your monthly income so that you will have saved some money by the end of the year.

We are still struggling but slowly, with the help of the Lord, I know we shall be able to save for our emergencies and retirement.