Read: Proverbs 6:6-8, Proverbs 13:11, Proverbs 21:5

Make a Plan

Hopefully, you’ve spent some time labeling the causes of why you’re in a financial predicament. Our reasons will all be different. Some of us are doing everything we know to cut spending, but may have made a poor purchase years ago that’s proving to be a challenge to repair. Others of us have a genuine struggle with spending and have created an addiction that’s hard to satisfy. Still some of us have realized that the work we’ve been doing, even though it’s gratifying, hasn’t truly provided for our needs or the needs of our family. With those newfound realizations in our back pocket, it’s time to make a plan.

Build Your Budget
Some people think of budgets as being restrictive, but in reality, budgets are meant to free you to spend without worry. So, go through your expenses from the past months and see what needs to be in the budget and what doesn’t.

Defeat Your Debt
There’s possibly nothing else that can strangle us like financial debt. We work to make payments, continue that pattern, and never really get to a place where we can be financially free. If you have small hills of debt or the equivalent of a Mt. Everest, start taking steps on ridding this from your financial portfolio. The freedom you’ll experience owing nothing but instead owning what you have is incalculable.

Start Your Savings
This aspect of our finances could not be more important! As mentioned in day 2, there will be unexpected things that come up that we’re not financially prepared for. This is why we have emergency savings—to be ready for the unexpected. Start saving today by adjusting your spending and also by seeing what you have that can be sold. You could easily build up your savings by selling some items online. Having a savings account, or emergency fund, is for things that are deemed emergencies, not shopping, eating out, or traveling.

These three things are all great steps to take in planning your finances, but you may still feel confused or overwhelmed. That’s where people come in! Look for people around you whom you know are financially free and ask their advice. Spend time learning from them so that you can gain their wisdom and insight. It will take time to see your plan come to fruition, but it will be worth it.

We would like to thank YouVersion for providing this plan.