Proverbs tells us that a foolish man spends all his income. "In the house of the wise are stores of choice food and oil, but a foolish man devours all he has." Prov. 21:20, NIV. It is foolish to simply break even, and how much more to get into debt. God does bless His people. Christians comprise a third of the world population, but control two-thirds of world wealth.

Larry Burkett noted that old age is a time for which to store provision. Prov. 6:6-8 "Go to the ant, you sluggard; consider its ways and be wise! 7 It has no commander, no overseer or ruler, 8. Yet it stores its provisions in summer and gathers its food at harvest." Our earning ability declines typically in the 60s and 70s, so we need to take measures to prepare for that time.

Prov. 27:12 "The prudent see danger and take refuge, but the simple keep going and suffer for it." Emergencies, including car repairs, illness, and loss of a job, require savings. Knowing these possibilities, we need to prepare. An emergency fund is prudent, in light of this scripture.

10 steps to help you get started on budgeting.

1. Pray for wisdom, together if married (James 1:5), and for self-control, which is a fruit of the Spirit (Gal. 5:23). If we cannot control our spending, this is a spiritual problem.