In order to have a helpful and practical plan and budget, you must first know your current financial position. You begin by listing it is good that you understand where you currently are financially. Sum up all your all your debt or savings (if you have some). If you do not have any debt, it is okay. If you do not have any savings yet, put down a plan of your aspirations regarding the same. 

Further, sum up all your sources of income and all your expenses. One easy way to identify and sum up all these is to write them down (you can also use Excel or an available budgeting app). Make sure you putdown every single coin you spend daily for a month. Once you have a record of your current financial status/position, proceed to write down your personal financial goals. Your financial goals stem from your dreams and desires. 

Set the specific goals you intend to achieve with each aspiration listed under your saving plan above. Some considerations  would be: where you would want to retire; where you would like your children to go to school; what skill you would like to learn; the destination you would like to visit on vacation; and the list is endless. Make sure to note down everything that needs your financial attention however small it may seem. 

Your personal financial goals may be short-term, mid-term or long-term. Writing them down helps ensure they are on record and may not be forgotten. Once you have your personal financial goals on record, ensure that you implement them, monitor and review  them at regular intervals to ensure that your actual financial actions are aligned to the set goals. Monitoring and reviewing financial goals regularly helps you follow them through. 

As you monitor, review and evaluate your personal financial goals, make adjustments whenever necessary to be in tune with what is happening around you, for example, inflation, promotion, income reduction or job loss, among other changes. Some of the things you need to plan for are: tithes and offerings, your children’s education, clearing debt, retirement, wedding, travel, vacation, medical emergencies, housing, food and personal effects, savings, and investments. 

As you plan and budget for your income, look at money positively as a God-given tool to facilitate your life and not as an instrument of suffering just because you have to work hard to earn it. Your attitude towards money not only determines how you plan and budget for it, but also, how you actually deal with it when it is in your hands.  Your attitude towards money determines your ultimate relationship with it.

Once you make a budget, be sure to stick to it. A budget ensures that all your utility bills are paid in time and your savings are on track. It also helps you not to divert funds towards unbudgeted activities. A budget also keeps you off impulse and unplanned spending. A budget that is adhered to helps you live within your means because you are very clear on what your available income is and what expenses that money needs to take care of.