A Missionary Budget
A budget is essential for anyone that desires to be a good steward of the resources entrusted to them. This is doubly true for a missionary who knows that all he or she has is the Lord's. It also gives you the realistic goal of what you need to raise to support you and your family if you have one on the field with you. Each month you can see if your support level is adequate and give you a better idea on how much effort and time you should allow each week to raise support. A good guide is 10% - 15% of your time weekly should go to support raising efforts. So lets look at the basics: What: In its most simplistic form a budget is a list of projected income and expenditures. For a missionary who is raising support, we will focus here on your personal one, not the ministry one. These two financial areas should be kept as separate as possible as far as accounting records are concerned. Your personal accounting should include things like housing, transportation, food, medical, etc. The income side should include all your sources of income that provide for your living expenses. When: A monthly accounting is usually the best for most people. A week is too short to include all your living expenses. Doing a monthly one will keep you focused on your personal financial picture. The best way to develop your budget is to keep track of ALL your expenses for a couple of months and derive your figures from there. This practice is also a good habit for when tax time comes around. Why: A personal accounting is simply good self discipline. Most people have no idea where a lot of their money goes. Right or wrong, people expect more out of those in full time ministry, including missions. Maintaining a personal one, and making it available to any of your supporters who would want to see it, keeps you at a high level of credibility and more likely to gain supporters. You are more trust worthy of support. (Even though I do this, I have never had a supporter ask to see it - a simple lifestyle is recognized and appreciated by your supporters. I am not into poverty, but neither do I think any serious Christian should indulge themselves in the materialism that is common in many countries.) How: A simple spreadsheet using software such as Microsoft Excel is the easiest way. If you don't have a computer, a simple sheet of paper with 2 rows, and a calculator will do the trick! Being personally accountable in this way for some people is like standing on a scale - they would rather not. Remember it is truth that will set you free, denial only leads to trouble. Speaking of budgeting, I have found this site to be a great resource for cutting costs and making my money work for me:
www.smart-money-management.com
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