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Week 2: Creating a Personal/Family Budget Foxboro 2 nd  Ward July 28, 2009
Outline ,[object Object],[object Object],[object Object],[object Object]
Why Budget? ,[object Object],[object Object]
Develop and Live on a Budget ,[object Object],[object Object]
Budgeting  (continued) ,[object Object],[object Object],[object Object],[object Object],[object Object]
Budgeting  (continued) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.  Know what you want to accomplish ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2. Track spending ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
3. Develop your Budget  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Budgeting:  The Old Way Available for Savings Personal Goals Income Expenses Tithing
Budgeting:  The Better Way Income Expenses Personal Goals Other Savings Pay the   Lord Pay Yourself
The Better Way ,[object Object],[object Object],[object Object],[object Object],[object Object]
The Better Way  (continued) ,[object Object],[object Object]
The Better Way  (continued) ,[object Object],[object Object]
4.  Implement your Cash Budget ,[object Object],[object Object],[object Object],[object Object],[object Object]
5. Compare Budget to Actual ,[object Object],[object Object],[object Object]
Types of Budgets ,[object Object],[object Object],[object Object],[object Object],[object Object]
Final Remarks on Budgeting ,[object Object],[object Object]
Questions ,[object Object],[object Object]

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Budgeting 101

  • 1. Week 2: Creating a Personal/Family Budget Foxboro 2 nd Ward July 28, 2009
  • 2.
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  • 4.
  • 5.
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  • 7.
  • 8.
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  • 10. Budgeting: The Old Way Available for Savings Personal Goals Income Expenses Tithing
  • 11. Budgeting: The Better Way Income Expenses Personal Goals Other Savings Pay the Lord Pay Yourself
  • 12.
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  • 14.
  • 15.
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  • 19.

Notes de l'éditeur

  1. Before You paid the Lord first, lived on the rest, and whatever money was left at the end of every month went into savings. Now You pay the Lord first, yourself second, and then live on the rest--your priorities are now in order And now you have twice the chance of achieving your personal goals
  2. If the church will not borrow, should we?
  3. He is saying to pay yourself a predetermined amount. I recommend 20%, but whatever you choose, pay yourself.
  4. Compare your budget to actual Adjust the plan or your expenses as necessary to maintain the plan Don’t reduce payments to the Lord or yourself If all else fails, this system will work! The Envelope System: Put money for each expense in an envelope, and when the money is gone, its gone It forces you to make it work (no cheating) The 60% solution Live on 60% of your income.