Starting out with a Budget helps me own my Spending Plan. Below is a template for drawing up a good budget. I write down my Income (Investment income, Salaries, fixed Income, Gifts, Stipends, etc.) Let’s ensure we have more than one source of Income.

First, My Tithes – not negotiable 10% of my Total Gross Income. Offering – I set a fixed amount to give as my offering for every service (Sundays and Tuesdays). Also, I set an amount, for giving to the needy. I set an amount to give to my Spouse (giving to spouse is different from giving her the Home maintenance upkeep, it’s just for her being my WIFE), Parents or In-laws (no matter how small ensure you consistently do it)Now! The expenses or how you intend to spend your income. Join me covet the habit of the rich as I spread out my harvest in GIVING, SAVING & SPENDING.

Write down my Taxes, Pension, Insurance, Welfare and other monthly deductions from my income.

Savings – I set the amount to be saved (20% of my Income at least). Builds to become my Investment when I reach an appreciable amount.

Rent or Mortgage – my total yearly rent divided into months. (If you own your House, still ensure you set an amount aside as your rent).

Home Maintenance – Internet data, telephone, electricity bills, water bills, gas refill, GoTV, DSTV.

Foods – (Feeding) for my Home.

Transportation – Transport to Church, school or Workplace, (if you own a car) Car Loan, Fueling, Servicing the Car, Car Insurance.

School/Child Care – Your children’s school fees, clothing, etc. Debts – (if you owe a debt) set an amount to help you gradually phase off all debts, stop wishing that your debts would be forgiven – It’s not a good virtue of Responsibility.

Clothing – For myself or for any party, celebration, etc.

Medicals – Multivitamins. I encourage that we sign up on a good HMO to help relieve health emergencies.

Entertainment/RecreationHow many times in the year would I visit the Cinemas, restaurant or Beach? (Vacation, Eating-out, Dogs food, pet foods); how much would it cost me monthly?

Miscellaneous – Cosmetics, Saloon, Laundry, Gifts for Spouse and Children.

For starts, I strongly suggest that you record your expenses and income for this month of January 2020. This helps you understand your cash flow and plan your budget more efficiently, in the months ahead. Couples should sit down, disagree to agree and come up with their family budget.