Limbo And Margin
Are you among the 60% of Americans living paycheck to paycheck?
Many Americans have money but no margin. Now a mental picture can help you gain some margin in your life.
Have you ever done the limbo? We played this when we were kids. The object is to get under the bar without touching it. The lower the bar, the more difficult it becomes.
Now, budgeting’s very similar. It’s a helpful tool for stewards to be found trustworthy. Your income represents the bar. Your expenses or spending must fall below the bar every month or you lose. In some ways, it’s easier to limbo beneath a high bar than a low bar. Just don’t make the mistake of assuming a higher bar is all you need.
Think of lottery winners or high-profile entertainers who blow through millions of dollars and go bankrupt. They have high bars, but they don’t limbo under it.
In limbo, you must carefully take measured steps to keep as far away from the bar as you can. The gap between your body and the bar is margin. In a budget, margin’s the gap between your income and expenses. You and I need to learn how to do the financial limbo. That happens when we learn to budget.
Here’s a simple way to start. Track all of your expenses for one month. Record every dollar you spend and where it goes. 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, and reveal if you are limboing safely beneath the bar each month.
If credit card debt is robbing you of margin, you should seek counsel. I recommend Christian Credit Counselors. They can create a debt management plan just or you. For more information call the Crown Helpline 800-722-1976 or visit crown.org/ccc.