Michael Blue

Most people would admit they should have a budget (or spending plan), but [a Gallup poll](https://www.deseret.com/2013/6/4/20520611/new-gallup-poll-shows-two-thirds-of-americans-do-not-budget/) shows that nearly two-thirds of Americans don’t have one. Why is that?

- For some, budgeting just feels overwhelming.
- For others, they don’t know where to start.
- Still others don’t think they need one.

While you may be able to get along without a super detailed budget, everyone should at least have a basic spending plan.

### **Biblical Wisdom on Budgeting**

**The Bible tells us that if we don’t control money, it will control us.**

*“The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.”* – Proverbs 21:5

We also see the principle of watching over what has been entrusted to us:

*“Know well the condition of your flocks, and give attention to your herds… the lambs will provide your clothing, and the goats the price of a field. There will be enough goats’ milk for your food, for the food of your household.”* – Proverbs 27:23–27

Today, most of us don’t have flocks and herds to manage, but we do have dollars and cents. The principle is the same:

If you budget your income and spend wisely, you’ll have enough to live on.

As stewards of God’s resources, we need to have a plan for where our money is going.

Part of having a plan is also planning for future saving, purchasing, investing, and giving goals.

A basic spending plan is simply a monthly plan assigning every dollar that comes in to some predetermined purpose (or category). It uses broader categories than a detailed budget and prioritizes every known need.

### **Example Basic Spending Plan**

**July 2025—Expected After-Tax Income: $4,400**

- Giving: $500
- Debt Repayment: $300
- Saving: $200
- Housing: $1,400
- Food: $600
- Transportation: $400
- Medical: $300
- Miscellaneous: $700

### **Getting Started**

There are several options for creating a spending plan, from web-based solutions to smartphone apps to good old-fashioned paper and pencil. You have to use what works for you, but the most tried-and-true method simply starts with manually tracking your spending.

With the [FaithFi app](https://www.faithfi.com/manage), you can easily figure out how much you’re spending in different categories. Here's a simple process:

**Track your spending for 30 days.**

Capture everything. The [FaithFi app](https://www.faithfi.com/manage) allows you to track manually or by connecting directly to your bank accounts.


**Learn what your true income is after taxes.**

This can be found on your pay stub.


**Break down your monthly expenses by broad category.**

Use the example above as a guide. Feel free to adjust based on your own needs.


**Compare your expenses with your income.**

Begin the process of making “adjustments” if you’re spending more than you’re earning.


**If you’re married, do this with your spouse.**

This is an opportunity to get on the same page, not to point fingers.

**Don’t forget non-recurring expenses.**

Include things like insurance payments or HOA fees that don’t happen monthly.

### **Making It Work Long-Term**

Once you have collected all this information, make a plan for each month. If you don't like your allocations, adjust them. Find a system that works for you and continue to tweak it so you’re getting the information you need before you’re in a financial bind.

- Regularly check your progress throughout the month.
- Adjust as needed.
- Track how much income you have left to spend during the month.
- When that number gets low, it’s time to tighten up.

If you can consistently spend less than you make, every other financial arena in your life will become more manageable.

### **Rob West’s Suggested Steps**

As you begin to *“know well the condition of your flocks,”* Rob West recommends the following steps:

- Begin every planning session with prayer
- Be honest with your spouse (don’t hide purchases or missteps)
- Find alignment in areas where you’ll cut back
- Be flexible—stuff happens every month
- Keep giving, be generous
- Don’t forget enjoyment—celebrate your successes
- It’s your plan—revise it if necessary

Remember: **you only have 100%.**

If your income doesn’t allow you to meet your goals, you either need to:

- Save beforehand
- Make adjustments
- Or increase your income

**Budgeting isn’t about restriction—it’s about freedom. And when done in light of God’s Word, it becomes an act of worship and stewardship.**

FaithFi

Articles

How to create a very basic spending plan for your monthly spending and future goals.

SPENDING | May 15, 2025

Creating a Basic Spending Plan to Achieve Financial Goals

By: Michael Blue

Where Faith Meets Finance

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