When figuring out your budget, or spending plan, be sure to have your savings account be the first bill you pay.
I know this may sound strange — especially if you are struggling with debt and having a hard time even paying your bills. But, paying yourself first is very important in your journey from where you are to being debt free.
Most people create a budget by putting their necessities first. Then, at the end of the month, they find they don’t have enough money left over to tithe or save. The problem is, they never will as long as their budget is upside down.
Tithe has to come off the top. It isn’t your money anyway; it’s God’s money. Savings has to come next. There is really a very good reason for paying yourself before your bills.
Most of us got into debt in the first place because of those unexpected emergencies. You might be making great headway paying your bills. You can finally see the light at the end of the tunnel and this time it isn’t a freight train. The problem is, if you haven’t set anything aside for emergencies, what happens when the refrigerator dies? Without a savings plan in place, you’ll have no choice but to pull out your plastic and go further into debt.
Don’t devour all you have! When writing up your spending plan, be sure to put you right up there at the top underneath your tithing. Your initial goal should be to save at least $1,000 for emergencies. That way, when life happens, you won’t be thrown off track.