Prosperity Budget

​In New Orleans we just concluded two weeks of parades and partying. Today, the first day of Lent, is welcomed with open arms. Those of us who are retired would burn out if we didn’t get this time of physical and spiritual renewal.
 
In my childhood years and much of my adult life, my tradition of lent always centered on the practice of giving up something. In recent years I have changed this tradition and now focus on “doing something” that will make a difference in my life and the lives of others. Regardless of whether or not you follow the tradition of Lent I would like you to consider initiating a new practice or discipline in your life for the next 40 days.
 
Today the one thing I would recommend you consider is creating a Prosperity Budget. In our 49 years of marriage we have always lived with a budget. This exercise may make you feel uncomfortable because for some facing the reality of how money is being spent can be a difficult task. The major categories we use have remained the same. Begin by writing down how much of your income goes into each of the following four categories:
 
Fixed Expenses
Flexible Expenses
Savings
Charitable Contributions
 
The only variable has been the income stream to finance the budget. Since retirement that income stream has changed but living with this budget for years has allowed us to live a life of abundance without debt.
 
From my experience living with this discipline of a budget is worth the effort. It has offered Jeanne and me the opportunity to live the kind of life that’s important to us by affording us world travel, many wonderful opportunities to celebrate life with family and friends, and the means to be generous in responding to the needs of others.
 
A follow-up blog posting will offer ideas on reducing taxes and acquiring the discipline of saving more for retirement.
 
Since today is the first day of Lent it offers us all a great opportunity to initiate something positive and different in our lives.