Planning helps you clarify what you are doing. Good financial planning starts by answering the question: “How much _______?” Discover exactly how much is coming in (current income), how much is going out (current spending), how much you have saved (to spend or give in the future), and what is going on in the financial world (current conditions). Put all these pieces together, and you will have a plan that can lead you to a positive, productive future.
Planning helps you prioritize your expenses. Living on a fixed or reduced income makes planning a necessity. It gives you an objective way, in advance, to apply wisdom before spending. As Scripture teaches, The plans of the diligent lead to profit as surely as haste leads to poverty (Proverbs 21:5). Anything less than diligent planning sets you up for disappointment.
Planning brings conviction. You will always be more excited about and committed to keeping a plan that you develop. Staying involved in your planning also helps you evaluate the advice you may need on investments, financial strategy, tax laws, estate and planned giving options, and more. While it is a good idea to enlist the help of godly, objective experts in these arenas, stay on guard to protect what you and the Lord have decided to do. This type of planning will empower you both now and in the future!
