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5 Tips for Creating a Budget…So that You have Money to Give!

I love giving. I talk about it often and am intentional about planning it into my life. Whether it be money, time, or talent, I work to share what I have with those in need. Because I talk about giving, I often hear the reasons why people don’t feel they can give. The number one reason that I hear people say that they don’t give, is because they feel that they don’t have enough money to give. I often find in talking further that it is not that they don’t have the money to give, but they don’t have a budget set aside for giving. With that in mind, I thought I would share 5 tips for creating a budget…so that you have money to give!

5 Tips for Creating a Budget, so you have More $$$ to Give!

Be Honest with Yourself About Debt.

A few times in my life when I have had mounting debt, I found that I didn’t want to open the mail or write down a true picture of what was happening. Because of that, I would avoid it at all costs. Of course, this only makes the situation worse. The only way to fix something that is broken is to write it down, see it on the page, and create a map for change. So, put all your bills together, throw out any duplicates, and write down your monthly expenses. Then in another section, write down your debts, how much you owe, interest rates and due dates. Then eat a brownie. Just kidding. But it is not a bad idea to clear your space before beginning, get a cup of coffee or tea, and put on some soothing music. Make dealing with bills a positive experience.

Write Out Your Plan for the Month.

Now that you have a clear picture of your expenses and debt you can write a monthly map to guide you. Write out your plan for the month. I start by writing how much I will receive as take home at the top of the page. Then I write out how much I will pay in tithe. I believe strongly in the benefits of tithing which is giving 10 percent of your income to a church a charity. It has made a huge impact on my life and finances.

Next, I write out my giving goal. This would be giving to general charities or projects that have touched my heart. If you are seriously in debt, then you would need to move giving to the end of your list. But, if you are not in debt, you can plan monthly giving that will bless others.

Then, I write a column of living expenses and deduct each from my income. I then write out a plan for how much I will spend on living expenses like fuel, food, and fun. After I have deducted all of that, I map out how I will reduce debt. Once you know how much you must spend, you can decide how quickly you want to get out of debt. I think sooner is always better than later! Plan to focus in on paying off debt. This will free you up later to give more and be truly free!

Money

Automate Your Bills

Over the years the greatest financial help I have had is in automating my bill payments. All but 2 bills that I have are set up on auto payments. This is where the bank or company automatically takes a draft out of your checking account. The two that are not are a pest control service and a small garbage company. Neither have the option or I would use it. I believe automating your bills helps in two ways. First, you can’t forget to pay a bill, because it is already auto-generated. Second, you know your bill payments are scheduled to come out, so you are less likely to overspend. I also believe in auto scheduling your giving. Many churches and most charities have options for auto giving. I also think it is a good idea to auto-generate your savings. Whether it is taken directly out of your paycheck into a 401k or pulled monthly from your checking, it is always good to save for a rainy day.

Generate Extra Income by Decluttering

To generate a little extra income to pay off debt, donate to charity, or add to savings, I think it is a great idea to sell unwanted or unneeded items. It can be a lot of work, but with a little planning a yard sale can bring in quite a nice chunk of change. Our yard sales have netted between $80 for a small yard sale and $600 for a large sale. It depends on how much you have to sell, but it is a great way to move unwanted items out of your house.

Another way to sell items is through the facebook marketplace, eBay, or Letgo.com. This is a great way to move items out of your house and into the hands of someone who wants them. You simply take pictures of the items, post online, and wait for offers. With eBay you typically will need to ship the items, but often on facebook marketplace or Letgo, someone local can meet you to pick up the items.

5 Tips for Creating a Budget, so you have More $$$ to Give!

Stop Buying Items You Don’t Need

The biggest way to have money to give is to stop buying items that are not needed. We have all been in the situation where we thought we wanted or needed something, made a purchase, and then came home and thought, “What did I just do that for”? It not only leads us away from our financial and giving goals but adds clutter to our home.

So, take the time to declutter your home so that you know what you have and what you truly need. Start in the kitchen! You can read more about food waste in this post. Truly though, our food budget is the budget that we have the most control over. We can’t choose what to spend on electricity or trash pickup, but we can choose what we spend on food. Taking the time to declutter your kitchen, write a list of all ingredients on hand, and then converting it into menus will save time, money, and wasted food cost. This will net more money to give to those in need.

5 Tips for Creating a Budget, so you have More $$$ to Give!

I realize this is a quick and simple overview of how to save money so that you have more money to give so I am recapping the basics below. Remember that even making small changes can make a huge difference in your life, as well as the lives of those in need.

Quick Look at 5 Tips for Creating a Budget

• Be Honest with Yourself about Debt.
  1. Collect all Bills and throw out duplicates
  2. Write Down Monthly Bills and Expenses and Income
  3. Next, Write Down Credit Cards and Other Loans
  4. Write Down Debts- Medical, Other
• Plan for the Month, Write it Down
  1. How much you will bring in
  2. How much you will spend
  3. Target your smallest bill to pay off
  4. Tithe or donate to charity, or both
• Automate Your Bills
  1. Auto Pay Monthly Bills and Expenses
  2. Automate Savings
  3. Make Giving Automatic
• Sell unwanted items
  1. Yard or Garage Sale
  2. Let it go or eBay
  3. Facebook Marketplace or local websites
• Stop buying things that are not needed
  1. Declutter so you see what you truly have
  2. Organize so that you don’t waste money buying items that are not needed
  3. Plan Meals and Eat from Home

So, what will you do to start your plan to save money and give more? What is your greatest tip for creating a budget so that you have more to give? Who or what is your favorite charity?

If you want to read about a few of my favorite charities you can read my post on Heifer.Org Here or Share our Strength Here.

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Books to help with budgeting and decluttering

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