Simplifying Life and Your Budget
“Therefore I tell you, do not worry about your life, what you will eat [or drink], or about your body, what you will wear. Is not life more than food and the body more than clothing?” (Matthew 6:25).
As we head into summer, it’s a great time to reevaluate your budget and your lifestyle. As we approach the middle of the year, take some time to look at your goals and resolutions from the new year and see how well you are sticking with them. Is it time to change them or recommit to them? Personally, I find it much easier to track goals quarterly rather than focusing on an entire year. This allows me to pivot if needed and keep them front of mind.
Spring cleaning is also on many people’s minds right now. This is a great opportunity to reflect on why we have the things we do and if we really need or want them. Simplifying possessions not only leads to clarity of mind but also clarity of budget. When we are able to discern our values, we are able to align our budget and possessions to these values, leading to simplification and clarity. Taking time to discern what God is asking of you during a specific time will help you be more disciplined with your money and time.
I am far from living a minimalist lifestyle. At the same time, I do want to be intentional about the possessions my family owns. Do they serve a purpose? Is that purpose intentional and relevant? Sometimes I catch myself purchasing things that are trendy or things that other moms say I need to have without giving much thought as to whether they are needed for my lifestyle or our family’s goals. Those impulse purchases are the ones I tend to regret the most.
How do we discern what to buy and what to walk away from?
So, how do we avoid those impulse purchases? How do we know what is worth it and what we should walk away from? First, go ahead and add it to your cart, but hold off on buying it. Most shopping is now done online, so we have the ability to save items for later. If you wait at least four hours and still feel like you need it, take some time to evaluate why you need it. What purpose is it serving? What problem is it solving? If you can answer either of these questions in ways that align with your current vocation, you probably should purchase it. If you are struggling to make the case to yourself, you should probably walk away.
What about large purchases?
If you are considering a large purchase, I recommend talking to someone else about it first. If you are married, talk to your spouse. If not, talk to a friend or family member. Allow them to help you decide if this is something you truly need. Before you begin the conversation, however, be sure to talk to them about your current goals. Let them know you’re trying to simplify your life and only make purchases you really need. This may initially come across as trying to be unnecessarily frugal, but if you explain your why, this will allow others to help you discern. It could also encourage them to be more intentional about their spending.
What about your budget in general?
You can learn a lot about yourself by looking at where you spend your money. Take some time to categorize your spending into different budget categories. Where you are spending the most money tells you about what you value the most. Is that category the one you want it to be? Is it the category God wants you to spend the most money in?
As you consider this spending, you can make a plan to help your budget realign with your goals and your discernment. Maybe God is asking you to cut back on subscriptions, Netflix, and buying coffee, but maybe those are areas He is using you to lead others to Him. For the most part, none of your budget categories will be concretely good or bad, but the intention behind them may be misaligned. Taking time to look at this will allow you to live out your faith with your money as well.
What are some areas to consider cutting back on?
There are countless ways we can cut back on our spending. Many of them will lead to simplifying your life as well. Here are a few examples of areas you might consider minimizing and some questions to ask as you consider simplifying them:
Things You Wear
Before you buy that new dress, take a look in your closet and answer these questions: Do you currently have a dress in that style? What about that color? Where would you wear it? Is it a quality piece?Consider a capsule wardrobe. Before buying anything new, take a moment to analyze your closet. What do you already have? How can it be mixed and matched to create new outfits? What colors do you tend to feel the most confident in? How can you maximize what you own and only purchase a few key pieces each season?
House Items
Do you need that new piece of furniture? Is there somewhere you could buy it less expensively? What is the purpose of it? Do you host a lot and bring community to those around you? Will this item help serve this purpose? Will this item simplify your life in some way? Will it give you more quality time with those you love?Hobby Supplies
What is the purpose of this hobby? How is it glorifying God? Do you already own another version of this item? Why do you need a second one? Is there a way you could share this with someone else? Is this trendy? Is this something that will last? How often do you intend to use it? Is it just for you, or will others use it also?Kids’ Toys
Do they already own something similar? Is this an item that will last more than a few weeks or months? How versatile is it? Does it fit their interests? Will it last to be passed on to other children? How many toys do they already have? Will this replace something or add more clutter to your home?Subscriptions
How often do you use this subscription? What is the purpose of it? Is it life-giving or life-draining? Does it build community? How much would I miss it? Am I addicted to it? Do I have another subscription that serves the same purpose? Could it be replaced for one-time purchases? Is that more or less expensive? Why is it on subscription?Dining Out
How much more expensive is it? How often do you do it? Are you with others or by yourself? Do the experiences give you joy, or are they simply for convenience? Does it give you more time to pursue other tasks? Do you have the money for it? Are there other ways you should be using this money? Could you make this meal at home? What are the pros and cons of that?
These are just some of the many areas you can look at and evaluate for simplifying your life and your budget. Everyone will discern differently how these and other categories fit into their lifestyle and budget. We are called to different things and are in different phases of life. What God wants from you right now is probably different to some degree than what He wanted from you last year or what He will want from you next year. Remaining prayerful and in constant dialogue with Him will allow you to live the most fulfilled life possible: “I came so that they might have life and have it more abundantly” (John 10:10).
Erica Mathews is a CERTIFIED FINANCIAL PLANNER™ Professional with Financial Counseling Associates, a family-owned financial planning and investment management firm. She helps relieve financial stress with organization, automation and a plan, helping others manage their finances so they can live as God is calling them to. She lives in Colorado with her husband and four kids; they love CrossFit, rock climbing, gardening, and exploring nature. Erica’s email is erica@fca-inc.com.