A Guide to Godly Financial Stewardship
Everything we have has been given to us by God, including the skills we use to earn a living. We own nothing. We are stewards of God’s resources. Are you using your money and resources with God’s best interests in mind or your own?
Store Up Treasures in Heaven (Matthew 6:19-24)
“No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and money.” (Matthew 6:24; NIV)
Money can buy instant gratification. It can buy a high, but it will not satisfy your soul.
“Immediacy tarnishes our souls. We’re made for eternity, not immediacy.” (Josh Moran)
Is Tithing Still Required?
Some people believe that tithing was only a command for the Old Testament. They may even quote 2 Corinthians 9:7 about being a cheerful giver and not giving under compulsion. In reality, tithing began well before the Law as an act of worship. Abraham tithed to Melchizedek (Genesis 14:20), and when it comes to the Law, Jesus did not reduce it. He expanded it by making it a matter of the heart.
Anger is murder. Lust is adultery. Giving Jesus anything less than everything is stealing.
Not only is tithing not outdated, but it’s just the starting point. As followers of Jesus, we must always be asking, how much should I give in addition to the tithe?
Ask God to help you become more generous, but don’t compare yourself to others. The truth is that we could all give more. Don’t feel guilty if you’re not giving as much as someone else, and don’t judge others for giving less than you. Nobody starts as a cheerful giver, but the more we give, the more generous we become. Giving is a discipline, a grace, and a blessing.
Making a Budget
Before you create a budget, know your weaknesses. Make a list of things you’re most tempted to overspend on. What do you constantly think about buying? What do you wish you had more or better of?
The goal is to be a good steward of what God has given us. We want to make sure that we are carefully and prayerfully spending our resources and not just throwing money at the latest and greatest things. Separate your spending into categories, and assign an amount to each one. “Give every dollar a name, and make it obey!” (Dave Ramsey).
Remember to budget for future (sometimes unexpected) expenses. For example, under transportation, don’t just budget for gas each month. Budget for future repairs and taxes too.
Example Budget
Income: Rp. 10,000,000
Category Budgeted % Budgeted $ Spent % Spent $ Balance Food 20% 2,000,000 15% 1,500,000 500,000 Transportation 2% 200,000 2.5% 250,000 -50,000 Health 2% 200,000 0.5% 50,000 150,000
Making Categories
Be specific, but don’t make it too complicated. The best budget is the one you can easily understand and follow.
Potential Categories
Food, transportation, health, house stuff, living expenses, rent, clothing, fun, other, vacation, savings (if you’re saving for something specific like a car, make a category for that too), debt, tithe, offerings, friends, gifts, traveling, family, etc.
Practical Tips and Tools for Budgeting
Use a Note App on Your Phone
Record all of your purchases in a notes app. Include the amount you spent and what category it is. This is easier than opening the full budget sheet every time. Remember to enter it immediately into the app, and transfer it from your notes app to the budget sheet once per week.
Save Your Receipts
Whenever you get a receipt, save it. Get a folder or a box to put them in. If it’s digital, screenshot it. That way you can input it into your budget sheet later when you have time. If you’re not good at keeping receipts, immediately enter the expense into your notes app instead. You could also take photos of your receipts to save for later. Just make sure you have a method for sorting them (i.e. send them to a WA group with just yourself), so they don’t get lost in your photo gallery.
Create a Spreadsheet
It’s good to keep a list of expenses on your phone, but you also need a spreadsheet to compile and track your expenses over time. Begin each month with last month’s ending balance. The example above is what your spreadsheet could look like. There are also different templates on Google Sheets and apps that you could try, although apps are less customizable.
Stay in the Black
Treat every category like an individual bank account. Don’t “loan” yourself next month’s money or money from another category. If the balance in the category is zero, it’s zero. Wait until next month.
Constantly Evaluate
At the end of each month, evaluate your budget. How did you do?
Are any categories in the red? Why? Did you underestimate your expenses, or did you make some unwise or unnecessary purchases?
Are there any categories with a lot of extra money? Why? Did you overestimate your expenses, or are you going to need that money in the future?
Do you need to increase or decrease your budget for any categories? Are you being a good steward of what God has given you? Are you being generous?
It’s okay to adjust your budget as you go, but do it wisely. Turn your budget sheet into a prayer list. How does God want you to spend your money?
How Much to Budget for Yourself?
When it comes to the leftovers, your expendable income, many people will fall into one of two categories. Those who struggle to save, and those who feel guilty buying anything for themselves. Both are unhealthy and must be addressed in the budget.
Be generous with yourself, but don’t blow all your expendable income.
What do you think is a reasonable amount of money to spend on yourself each month? One way to determine if you’ve budgeted a good amount is to think about what you could buy if you saved all your “fun” money for a full year. Does that seem reasonable? Are you giving yourself too much or too little?
Budget for Generosity
If you want to become more generous, budget generously. Make room in your budget for the tithe and offerings, but also budget money for buying people food or making spontaneous donations.
