Why budgets matter

Research from insurance giant AXA suggests that one in three adults, that's around 12.4 million people, refuse to plan their finances at all. Those that do find the time to review finance set aside a miserly five minutes a week.

Preparing a realistic budget that reflects the means and needs of a family or a household takes a bit of organising but is essential in making informed choices. A good budget gets our finances organised and helps us to take control and plan for the future. A budget:

• gives an accurate picture of our financial situation
• makes our money go further
• imposes control over our spending
• prevents running up substantial debts
• avoids financial stresses in family
• serves our life plans and goals so we don’t serve money.

For Christians a budget is a value added tool in managing our money from a biblical perspective:

• A budget reminds us that we are not managing 'our money' but a gift entrusted to us by God, a gift to be enjoyed and celebrated with gratitude.
• A budget is a place for listening not only to my own desires but also listening to God for his purpose in my life.
• A budget puts trust, gratitude and generosity into practice by giving a profile and a priority to our planned giving.