Articles > Spending
What is a flexible spending plan and how it is far superior to a budget relating to personal finances
Out with the Budget and in with a Flexible Spending Plan
by Bill & Maureen Sitter
Every person, married couple and family would like
to feel "in control" of their finances. Many
have tried "budgets" only to get frustrated,
quit, and return to an out of control use of money…which
always seems in short supply.
The flexible spending plan allows you (not a third
party budget director) to determine how your family
will allocate funds for: giving, spending, savings,
rapid debt reduction, and long-term goals. The ultimate
goal is to get God right in the middle of your plans
and to take actions that kick the devil out. The result
will be a long-term plan for true financial freedom.
Proverbs 21:5 (NIV) is one of many scriptures encouraging
us to set Godly goals: "The plans of the diligent
lead to profit as surely as haste leads to poverty."
This is why we present a plan that starts with goal
setting. For married couples, it is essential that both
spouses share in the entire process. Where possible,
include children and train them to be good stewards.
A complete family spending plan should also include:
an income and biblical giving plan, a listing of assets
and liabilities, a debt reduction plan, balance sheet
and net worth statement, estimated living expenses (by
categories); and a monthly cash flow analysis - to indicate
if the plan provides for any money at the end of the
month - or for too much month left at the end of the
Living with a flexible spending plan, where you are
in control, proves to be much easier than living on
In the new book - Financial Freedom in 7 Weeks Plus,
several chapters are devoted to teaching and demonstrating
the use of all elements of a Spending Plan. Simple examples
and blank forms are provided to help you get debt free
of credit card debt and all debt and to gain true financial
freedom - God's way.