Are you among the 76% of Americans living paycheck to paycheck?
Most of us suffer from having money, but no margin.. Let me give you a mental picture to help you get some margin in your life.
Have you ever done the limbo? When we were kids we would play this game to try and get under the bar without touching it. The lower the bar the more difficult it became. Now, budgeting is very similar. Your income represents the bar. Your expenses or spending must come in below the bar every month or put simply – you lose.
In some ways, it is easier to limbo beneath a high bar than a low bar, but don’t make the mistake to think that a higher bar is all you need…. I mean…Johnny Depp has apparently blown through an estimated $600 million dollars and is near bankruptcy. That was a very high bar but he did not limbo under it. Like limbo, you take careful measured steps to keep as far away from the bar as you can…that is what I call margin… in limbo, the gap between your body and the bar is margin just like with a budget which is the gap between your income and expenses.
You and I need to learn to do the financial limbo and that happens when we learn to budget. Now here is the simple way to start – Track all your expenses for 30 to 45 days…write everything down. Now put those expenses in a budget form that you download for free at Crown.org. this will help you compare your expenses to your income. It will show if you are limboing safely beneath the bar each month
If credit card debt is robbing you of margin, get in touch with Christian Credit Counselors. Learn more at crown.org/ccc or call the Crown Help Line at 800-722-1976.