In our second Financial Peace University class, we addressed how people relate to money. This blog may seem unrelated, but our relationship to money impacts our ability to achieve our goals. Understanding that goals are the key element in successful lives, and money is simple a resource used to achieve those goals is essential. This article sets the stage for the class summary by considering the relationship between goals and budgeting.
Building a budget is a terrific thing to do. It gives you an accurate picture of what is coming in and what is going out, and it is a tool used to determine where the money is going. It puts you in control of your finances instead of being a victim of them.
It’s important to build a budget that tracks your month-to-month living, but it’s equally as important to consider the future. For this reason, I want to stress the importance of goals.
Goals are not only helpful in planning for new cars or other future expenses, but they are also beneficial in helping you fulfil your purpose in all areas of life. We are each distinctly made & each of us has a unique purpose. Our purpose is determined by God, and we can know what it is, or at least know what direction to aim to reach it, by evaluating our place in life, our gifts and abilities, our interests and our desires. When we get married, we have a common purpose. Do you know what that is? Have you ever thought about it?
Once you determine your purpose, either as a single or as a couple, you can then define goals to fulfill that purpose. For couples, these goals should be mutual. You can also have separate goals, like losing weight or developing new skills, but they should always be compatible with the mutual goals. Your goals are then achieved through measurable objectives that, in the case of couples, are agreed upon by both parties.
Here’s where budgeting comes in: by setting your goals and objectives, you’ve now eliminated the majority of uncertainty relating to your future. Additionally, you now have a driving force and a plan for your budget! In order to meet your objectives, you have to make certain all resources are available. This means you have to consider what is feasible financially, either now or through savings. So when you create your budget, you account for the necessities, and then put your funds toward your objectives. Your budget must be supportive of your objectives. How you arrange your budget to support your objectives is determined by prioritizing your goals. This is a negotiating point for couples, and is easier for singles.
Once you have your purpose defined, your goals stated, your objectives set, and your budget developed to support and fulfill those objectives, you’re now headed in a productive and fulfilling direction in your life. For singles, this means that you’re not just “existing,” waiting for the next social meeting, or waiting for that perfect soulmate shows up in your life; it means that your purpose is being actively fulfilled! For couples, it means that you have just taken a huge leap toward that unity that you may never have experienced or anticipated, yet you’d vowed to have on your wedding day.
So what’s holding you back? Let’s get started creating a purposeful future!
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Very soon you’ll see new offerings from the Center for Excellent Living. FREE classes in budgeting, goal setting, time management and other personal growth skills. Keep an eye out!
Recommended Reading:
The 7 Habits of Highly Effective People by Stephen R. Covey
Proverbs, by King David & Others, inspired by God
Recommended Resources:
MyGoals.com
If you want guidance as you learn to set goals, MyGoals.com offers a step by-step-system for creating goals. They offer a free 10-day trial. Once you’ve been through it and created a few goals, you can continue with their paid program, or go on your own, but be sure to cancel if you don’t continue with them!
Verses to Consider:
Proverbs 16:3-Commit to the LORD whatever you do, and your plans will succeed. (NIV)
Ephesians 5:21-Submit to one another out of reverence for Christ. (NIV)
Proverbs 21:5-The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty. (ESV)
