Budgeting & Financial Management

Luke 16: 10–12 He who is faithful in what is least is faithful also in much; and he who is unjust in what is least in unjust also in much. Therefore if you have not been faithful in the unrighteous mammon, who will commit to your trust the true riches? And if you have not been faithful in what is another man’s, who will give you what is your own? Budgeting answers the question of where will you get the money to operate your business and how you are going to manage that money. Budgeting is the defender on a soccer team. The defender is careful not to be caught out of position lest the opposition gain the advantage. In budgeting, business people must be careful that they have enough financial resources to enable the business to function and to grow. Budgeting involves planning and monitoring financial resources and making the necessary changes so that the team is in position to win the game.