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>> Welcome to
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It Is Written Canada.
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Thank you for joining us.
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Building a budget and sticking
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to a budget means
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financial discipline today
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for the sake of your future
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well-being.
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In order to do this, many will
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have to break the habit of
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dining at expensive restaurants,
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buying new cars
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every 2 or 3 years,
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and spending maybe $10
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or more on smoothies
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or hot drinks.
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>> Financial planning is
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designed not to prevent your
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enjoyment of life, but to help
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you obtain the things you want
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and need.
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The Bible advises us to...
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And this includes trusting the
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Lord in the area of building
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a budget.
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>> On It Is Written Canada
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today, Sven Tornlov, along with
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other financial experts, share
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with us timeless wisdom on
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building a budget and
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sticking to it,
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how the Bible gives us direction
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when it comes to our
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financial planning.
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>> Sven, thank you so much for
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joining us on It Is Written
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Canada again.
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>> You're very welcome.
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It is a joy to be here.
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>> Sven, when we talk about
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building a budget, some people
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might be rolling their eyes,
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kind of breathing heavily, and
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like, "Oh, no.
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Do I really have to do that,
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make a budget?
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That's gonna- I'm not gonna be
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able to enjoy my life."
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Is that true?
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>> You know, I think there's a
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misconception when it comes to
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building a budget.
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You know, I sit down with people
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like right now, Mike and René,
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could you if I handed you a
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piece of paper, build me
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your budget right now?
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And most likely you would
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say yes.
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People say yes, they can.
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And they go through the efforts
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of taking out a piece of paper,
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writing down their income.
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Well, usually that's
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fairly easy, that's fairly
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straightforward.
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And then they come
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to their expenses.
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So what's the first item they
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put on their expense?
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[MIKE] Food.
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>> The food, exactly,
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because it's a fixed cost,
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it's there- not a fixed cost,
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but it's there every month.
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We- it's a need not a want,
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you know, and the next item is
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typically going to be, you know,
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your mortgage, you know,
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or your rent and then so
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far down.
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And then when they get to the
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bottom they subtract their
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expenses from their income, and
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invariably they're in the red.
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Right?
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And so what is the very next
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thing we all do?
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[MIKE] Panic.
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>> Panic, yes.
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Or we reduce food.
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So- or entertainment
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or something.
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So we really haven't created
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a budget.
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This isn't a budget.
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So...
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...I think that's why people,
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there's a problem, you know, and
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people don't like to do it
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because maybe they're not doing
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it correctly.
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So at this juncture, when we're
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looking at building a budget,
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we need to be very honest
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with ourselves.
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You know, places where we don't
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like to go, we need to be super,
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super honest with ourself
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and then look at our past
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spending habits for the past
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number of months.
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And off of that history,
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we can now build a budget
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from actuals
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and in good faith, and we can
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control it to stay to that
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month over month.
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>> If you were to look
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forward over the next
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5, 10, 15 years
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of the things in life
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that were most important for you
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that you'd want to achieve,
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that if you didn't...
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...you don't wanna kick yourself
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in the bum.
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You'd be just devastated for not
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being able to achieve these
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particular events in your life.
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What would that look like?
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Make a list,
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put a date,
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and then prioritize them.
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I've met very few people
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that have done that exercise.
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that have done that exercise.
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The second part of the exercise
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is once you have
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those priorities...
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...to now take them,
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put them on the refrigerator,
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put them in places that are
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visible, that they just,
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so won't go from your mind.
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And then now look
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at your current spending.
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And then ask the question...
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...are the things that I'm
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spontaneously purchasing now...
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...am I willing to postpone
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these events I said were
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so important
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based upon what I'm
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spending today?
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In other words, I'm not-
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we're not telling the person no.
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What we're really saying is...
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...direct your money to what's
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most important to you.
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And for our partners
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to be able to make that list
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and compare it and then
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prioritize it...
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...now all of a sudden,
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when it comes time to deciding
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how you wanna spend your money,
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you now actually have a guide
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of why you're making the
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decisions you're making...
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...versus having absolutely no
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thought or idea around it.
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>> Sven, can you give us some
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top reasons why you think
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a person would be better off
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to make a budget and
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stick to it?
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>> So there are a number of
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reasons why we need to and
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should want to have a budget.
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Especially if you bring in
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the whole family,
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you know, on a budget.
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When a corporation makes a
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budget, the entire team is
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focused on that budget.
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Let's emulate that with
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our own personal budgets.
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Let's bring the family together
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Let's bring the family together
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so that we are focused on the
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common goals, the things that
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are really important to us.
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That's what we need to highlight
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so it does bring, you know,
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us focused.
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It also is going to help us not
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overspend in areas and whereby
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we might be wasting money.
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And looking at future
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to help us to cover
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our future expenditures,
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our emergencies.
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And when we've taken care of
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this, I think that we are going
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to have a lot less stress,
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you know, in life, because
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we're gonna know the position
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that we are in financially
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and if it's not a good position,
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it's okay because that budget
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is going to see us out of it,
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going to see us through.
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And that's gonna bring less
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stress into our life ultimately.
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And, you know,
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who likes stress?
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Right?
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>> So let's talk about,
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perhaps there are some
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advantages, health advantages,
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relationship advantages.
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Have you seen that?
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That when someone makes a budget
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or a family makes a budget,
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individual makes it budget,
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there's- it improves their
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relationships, it improves
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their health?
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>> Well, just right off the bat,
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you know, stress.
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Stress is not good on
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anyone's health.
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And there again, if we are all
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together on to a common goal
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with the budget, there's not
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gonna be this arguing and
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bickering, maybe, between,
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you know, husband and wife.
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Children are gonna be on board
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with, because they're, again,
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they're gonna have to have their
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own ledger, their own budget.
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So I think it just brings us all
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pulling together as a team.
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When we talk about actually
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building a budget, sitting down
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with pen and paper, that's the
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way, you know, my mother and
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grandparents did it.
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How I do it today is I do it on
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Excel because that is much
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easier for me to come up and be
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able to change and to reconcile.
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The nuts and bolts of doing this
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is we have to be able to have
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our expenditures so that we can
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then enter them onto our budget,
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because we have to have built a
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history first before we can
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start building a budget.
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And so...
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...my home office,
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the top left hand drawer,
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in the side of the drawer
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is a box.
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Any time I make an expenditure,
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any time my wife does, that
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money comes out of our account,
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there's a receipt.
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When you come home from work or
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come home from that day or come
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home from shopping, you take out
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of your wallet or out of your
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purse those receipts,
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and they go into that box.
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So once a week, we all waste
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time, and once a week,
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let's say you like watching
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hockey Saturday night.
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Well, between the first and
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second period or the second and
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third period, we waste
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this time.
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But that's how quick it is just
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to enter those week's receipts
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into your budget.
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So you just go to the office
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really quick, you grab those
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receipts, you enter them into
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the right categories.
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If it's- if it was food, if it's
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entertainment, if it's mortgage,
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you enter those items in.
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And after you've done that,
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you know, for three months,
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you now have good history
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you now have good history
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to be able to then in
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good faith, being very honest
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with yourself, putting together
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a budget then.
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And from those numbers you can
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then control it.
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And since you do it every week,
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after week one, you should have
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expended 25% of your
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food budget.
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After week two, 50%.
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So let's say after week two,
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you're at 75%.
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Well guess what?
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You know what you need to do
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up until the end of the month.
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You have to start
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watering down the soup.
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You know, conversely, if you
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have only spent 40% and you're
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at the end of week two,
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guess what?
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You might go buy a cheesecake at
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the grocery store or something
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like that to celebrate, but you
00:10:41.20\00:10:42.90
can keep weekly control
00:10:42.90\00:10:45.21
over your budget so at the
00:10:45.21\00:10:46.34
end of the month, you have...
00:10:46.34\00:10:48.61
...met your budget goals.
00:10:49.74\00:10:51.58
>> Where am I going
00:10:52.28\00:10:53.31
in my future?
00:10:53.31\00:10:54.35
What are my priorities?
00:10:54.35\00:10:56.48
Because if I have that clear...
00:10:56.48\00:10:58.79
...in which I've brought my
00:11:00.62\00:11:01.92
future into my present...
00:11:01.92\00:11:03.73
...it enables me to be
00:11:04.79\00:11:06.56
disciplined.
00:11:06.56\00:11:08.30
If I consolidate,
00:11:08.30\00:11:10.37
giving myself breathing room...
00:11:10.37\00:11:12.40
...but I don't stick to the plan
00:11:14.74\00:11:17.31
and then in turn,
00:11:17.31\00:11:18.67
just do more spending...
00:11:18.67\00:11:20.44
...and I find myself back
00:11:21.41\00:11:22.94
to where I started from...
00:11:22.94\00:11:24.55
...then consolidated-
00:11:26.25\00:11:28.08
consolidating the debt
00:11:28.08\00:11:29.35
did me no good.
00:11:29.35\00:11:31.49
So I always come back to
00:11:31.49\00:11:34.19
what are the priorities in which
00:11:34.19\00:11:35.36
you're looking at and where you
00:11:35.36\00:11:36.59
wanna be in five, ten, 15 years.
00:11:36.59\00:11:39.23
And to do that, backing in to
00:11:39.23\00:11:42.06
what that means in the present.
00:11:42.06\00:11:44.23
And then it becomes a little bit
00:11:46.03\00:11:48.74
of self awareness of saying...
00:11:48.74\00:11:51.47
"...Am I really that...
00:11:52.37\00:11:53.98
Am I really that disciplined?
00:11:53.98\00:11:56.54
Can I actually do that?
00:11:56.54\00:11:58.15
Well, if the answer is...
00:11:59.75\00:12:01.15
...eh, we're not good at that.
00:12:02.22\00:12:03.89
Well, then don't do
00:12:04.72\00:12:06.35
the consolidation,
00:12:06.35\00:12:08.22
because now you're putting
00:12:08.22\00:12:09.26
yourself in a bad situation.
00:12:09.26\00:12:10.56
So this is all...
00:12:10.56\00:12:11.73
As I'm, you know, I hope,
00:12:12.56\00:12:14.23
you know, as you're listening
00:12:14.23\00:12:15.66
to me, what I'm really saying is
00:12:15.66\00:12:18.60
there is no cookie cutter.
00:12:18.60\00:12:20.40
It's a lot of self-awareness
00:12:20.40\00:12:22.77
of knowing yourself and what
00:12:22.77\00:12:24.47
your habits are.
00:12:24.47\00:12:25.91
And then based upon knowing what
00:12:26.71\00:12:28.71
your habits are and the
00:12:28.71\00:12:30.61
discipline you're willing to
00:12:30.61\00:12:32.05
apply, then choosing,
00:12:32.05\00:12:34.85
making the choice that reflects
00:12:34.85\00:12:37.25
the person you know you are.
00:12:37.25\00:12:39.35
>> I think that it is a myth
00:12:40.82\00:12:43.06
believing that budget holds you
00:12:43.06\00:12:44.76
back from living an exciting,
00:12:44.76\00:12:47.56
a free life.
00:12:47.56\00:12:49.33
Sometimes people can think that
00:12:49.33\00:12:50.80
it imprisons you with your money
00:12:50.80\00:12:52.87
and it doesn't allow you
00:12:52.87\00:12:53.94
to have fun.
00:12:53.94\00:12:55.04
But I actually think
00:12:55.04\00:12:56.04
the opposite.
00:12:56.04\00:12:56.87
I think that having a budget
00:12:56.87\00:12:58.67
actually gives you so much more
00:12:58.67\00:13:00.41
freedom, because without a
00:13:00.41\00:13:02.18
budget, you can find yourself
00:13:02.18\00:13:04.08
spending carelessly and
00:13:04.08\00:13:06.08
finding yourself in debt.
00:13:06.08\00:13:08.12
Whereas when you have a budget,
00:13:08.12\00:13:09.98
it allows you to actually
00:13:09.98\00:13:11.12
visually see how much money
00:13:11.12\00:13:13.05
you have coming in and how much
00:13:13.05\00:13:14.92
you can afford to actually
00:13:14.92\00:13:16.16
spend on your needs,
00:13:16.16\00:13:17.63
and sometimes even your wants.
00:13:17.63\00:13:19.56
So there's actually something
00:13:19.56\00:13:20.83
that has kind of blown up on
00:13:20.83\00:13:22.20
social media lately.
00:13:22.20\00:13:23.23
It's called "girl math."
00:13:23.23\00:13:25.17
So with girl math, there's this
00:13:25.17\00:13:27.60
thought that, "Okay, if I'm
00:13:27.60\00:13:28.87
spending cash, I'm technically
00:13:28.87\00:13:30.84
not spending money because it's
00:13:30.84\00:13:32.47
not lowering the number of my
00:13:32.47\00:13:34.21
bank account."
00:13:34.21\00:13:35.21
Or if I bought something and I
00:13:35.21\00:13:36.75
returned it, now I have this
00:13:36.75\00:13:38.05
refunded money, so that's money
00:13:38.05\00:13:39.81
I would have spent anyway,
00:13:39.81\00:13:40.85
so it doesn't count if
00:13:40.85\00:13:41.85
I spend it again.
00:13:41.85\00:13:43.12
So you just have to really steer
00:13:43.12\00:13:45.42
away from these ideas about,
00:13:45.42\00:13:47.49
"Okay, I'm spending something
00:13:47.49\00:13:49.66
that's on sale,
00:13:49.66\00:13:50.69
I'm saving money."
00:13:50.69\00:13:51.83
No, that money is still
00:13:51.83\00:13:52.83
coming out right?
00:13:52.83\00:13:53.90
So you just have to ground
00:13:53.90\00:13:55.46
yourself when it comes to your
00:13:55.46\00:13:56.70
spending and really look into
00:13:56.70\00:13:58.60
saving and investing
00:13:58.60\00:14:00.20
specifically.
00:14:00.20\00:14:01.07
Saving is great and investing is
00:14:01.07\00:14:02.50
great as well.
00:14:02.50\00:14:03.87
Save for the rainy day.
00:14:03.87\00:14:05.37
They say that, you know, if
00:14:05.37\00:14:07.08
an emergency comes up or
00:14:07.08\00:14:08.91
by any chance, maybe you lost
00:14:08.91\00:14:10.21
your job, you should have
00:14:10.21\00:14:11.68
savings for around 3 to 6 months
00:14:11.68\00:14:13.72
that can cover your living
00:14:13.72\00:14:14.75
expenses if you were to lose
00:14:14.75\00:14:16.69
your job.
00:14:16.69\00:14:17.49
So keep that in mind as well
00:14:17.49\00:14:18.82
when you're doing a budget,
00:14:18.82\00:14:19.82
to have money set aside
00:14:19.82\00:14:21.32
in the case that, God forbid,
00:14:21.32\00:14:22.92
you lose your job.
00:14:22.92\00:14:23.96
One of the biggest positives
00:14:24.59\00:14:27.40
is savings.
00:14:27.40\00:14:28.73
So, should there be specific
00:14:28.73\00:14:31.23
items that a family or an
00:14:31.23\00:14:32.97
individual should save for?
00:14:32.97\00:14:35.00
Otherwise you get these savings,
00:14:35.00\00:14:36.20
like, where does it go?
00:14:36.20\00:14:37.27
You know, 72,000 different
00:14:37.27\00:14:38.97
things you could save for.
00:14:38.97\00:14:40.31
What should they be saving for?
00:14:40.31\00:14:41.98
>> You know, so typically if you
00:14:43.04\00:14:44.11
ask someone to build their
00:14:44.11\00:14:45.25
budget, just as we alluded to at
00:14:45.25\00:14:46.72
the top on the expense side,
00:14:46.72\00:14:48.05
is going to be food and mortgage
00:14:48.05\00:14:49.72
or rent.
00:14:49.72\00:14:50.65
And then at the very, very
00:14:50.65\00:14:51.89
bottom, you know, they're gonna
00:14:51.89\00:14:53.39
put savings and it's whatever
00:14:53.39\00:14:55.29
they have left goes into there.
00:14:55.29\00:14:57.76
That shouldn't be the case.
00:14:57.76\00:14:58.99
You know, up at the top
00:14:58.99\00:15:00.36
you need to have saving
00:15:00.36\00:15:01.70
for your retirement.
00:15:01.70\00:15:03.20
You're gonna be retired too long
00:15:03.20\00:15:04.93
to not have planned for it.
00:15:04.93\00:15:06.70
That's where you're gonna be
00:15:06.70\00:15:07.84
saving for your child's future
00:15:07.84\00:15:08.84
needs, that's where you're gonna
00:15:08.84\00:15:09.87
have future expenditures.
00:15:09.87\00:15:11.37
And if your emergency fund isn't
00:15:11.37\00:15:12.81
fully funded, that's where
00:15:12.81\00:15:13.98
you need to fund your
00:15:13.98\00:15:15.01
emergency fund.
00:15:15.01\00:15:15.98
So if you start young
00:15:15.98\00:15:17.78
and you start it systematically
00:15:17.78\00:15:19.68
every month, those four line
00:15:19.68\00:15:21.68
items don't amount to a lot,
00:15:21.68\00:15:24.42
but you have to be consistent.
00:15:24.42\00:15:26.62
So those are the future items
00:15:26.62\00:15:28.52
that you must put
00:15:28.52\00:15:29.99
in your budget and you must be
00:15:29.99\00:15:31.73
systematic about it every month.
00:15:31.73\00:15:34.30
>> Sven, now the family has come
00:15:35.06\00:15:36.87
together and they've created
00:15:36.87\00:15:38.77
their budget and they are
00:15:38.77\00:15:40.10
so excited because it looks like
00:15:40.10\00:15:41.64
they're gonna be able to
00:15:41.64\00:15:42.77
make ends meet every month.
00:15:42.77\00:15:44.84
But now they have to
00:15:44.84\00:15:45.91
stick to it.
00:15:45.91\00:15:47.38
And I guess sticking to that
00:15:47.38\00:15:49.11
budget is easier
00:15:49.11\00:15:51.88
done than what we've
00:15:51.88\00:15:53.45
planned and said.
00:15:53.45\00:15:54.95
So can you give us some
00:15:54.95\00:15:56.32
practical guidelines on how to
00:15:56.32\00:15:58.82
actually stick to that budget?
00:15:58.82\00:16:01.29
>> You know, we all love our
00:16:02.89\00:16:03.89
hobbies, don't we?
00:16:03.89\00:16:05.43
And our hobbies, we do them
00:16:05.43\00:16:07.93
often.
00:16:07.93\00:16:09.40
Well, we have the joy and the
00:16:09.40\00:16:11.13
pleasure of adding a hobby,
00:16:11.13\00:16:12.83
and that is finance
00:16:12.83\00:16:13.97
and budgeting.
00:16:13.97\00:16:15.64
And I think we get discouraged.
00:16:15.64\00:16:17.54
You know, we do them
00:16:17.54\00:16:18.57
once a month, we sit down and
00:16:18.57\00:16:19.77
we work on our budget
00:16:19.77\00:16:20.84
once a month, but we forget
00:16:20.84\00:16:22.51
the history and so we get
00:16:22.51\00:16:23.85
discouraged and we just
00:16:23.85\00:16:25.25
crumple up the piece of paper
00:16:25.25\00:16:26.31
and throw it in the garbage.
00:16:26.31\00:16:27.58
But if we do it once a week,
00:16:28.35\00:16:29.88
set a time once a week that
00:16:29.88\00:16:32.15
you are going to sit down and
00:16:32.15\00:16:34.66
reconcile your budget to your
00:16:34.66\00:16:36.12
actual expenditures, I think it
00:16:36.12\00:16:38.33
makes it so much easier.
00:16:38.33\00:16:39.59
And if you have a regular time
00:16:39.59\00:16:41.30
in the week when you always
00:16:41.30\00:16:42.60
do it.
00:16:42.60\00:16:43.47
So again, if you do watch
00:16:43.47\00:16:44.60
hockey, maybe it's always
00:16:44.60\00:16:46.03
Saturday night, you know,
00:16:46.03\00:16:47.07
between the second and third
00:16:47.07\00:16:48.17
period is your time to do
00:16:48.17\00:16:49.77
the budget.
00:16:49.77\00:16:50.77
Maybe it's Sunday morning,
00:16:50.77\00:16:52.07
you know, before anyone else has
00:16:52.07\00:16:53.64
gotten up and you quickly work
00:16:53.64\00:16:55.98
through your budget,
00:16:55.98\00:16:57.21
which doesn't take very long,
00:16:57.21\00:16:58.61
you know, 15 minutes maximum,
00:16:58.61\00:17:00.85
and then you go into the kitchen
00:17:00.85\00:17:02.48
and start making pancakes
00:17:02.48\00:17:03.49
for the family.
00:17:03.49\00:17:04.49
So if you have that set time
00:17:04.49\00:17:06.72
every week where you just take
00:17:06.72\00:17:08.56
a small amount of time, then it
00:17:08.56\00:17:10.46
doesn't become this massive job.
00:17:10.46\00:17:12.86
>> So, Sven, can you tell us
00:17:14.36\00:17:16.63
what the common areas are
00:17:16.63\00:17:18.83
where people usually overspend?
00:17:18.83\00:17:21.37
>> You should be asking my wife
00:17:22.80\00:17:24.01
this question because she could
00:17:24.01\00:17:25.07
tell you top of mind areas
00:17:25.07\00:17:26.81
where I overspend.
00:17:26.81\00:17:28.14
But yes, areas that are commonly
00:17:28.81\00:17:31.51
overspent, you know, food.
00:17:31.51\00:17:34.25
Food is a big one and not food
00:17:35.18\00:17:36.48
that you go to the grocery store
00:17:36.48\00:17:37.89
and then you come home
00:17:37.89\00:17:38.95
and prepare.
00:17:38.95\00:17:39.99
People decide that they are too
00:17:41.36\00:17:42.89
busy for whatever reason and
00:17:42.89\00:17:45.89
they just go grab lunch
00:17:45.89\00:17:48.26
somewhere as opposed to bringing
00:17:48.26\00:17:49.56
a lunch from home.
00:17:49.56\00:17:50.90
That's gonna cost you
00:17:50.90\00:17:51.90
significantly more money
00:17:51.90\00:17:53.54
than making something from home.
00:17:53.54\00:17:54.97
And especially, you think day
00:17:54.97\00:17:56.71
in, day out, week after week,
00:17:56.71\00:17:58.61
the monthly amount, you know,
00:17:58.61\00:18:00.31
on that.
00:18:00.31\00:18:01.41
Speeding through the
00:18:02.21\00:18:03.31
drive through to grab something
00:18:03.31\00:18:04.91
on the go.
00:18:04.91\00:18:05.81
These are areas in where you can
00:18:05.81\00:18:08.02
be quickly out of hand because
00:18:08.02\00:18:09.28
it's convenient.
00:18:09.28\00:18:10.39
You know, other areas...
00:18:11.09\00:18:12.29
Poor purchases
00:18:13.52\00:18:15.62
that maybe aren't going to last.
00:18:15.62\00:18:18.39
Maybe they're just a little bit
00:18:18.39\00:18:19.46
cheaper and so you decide to
00:18:19.46\00:18:20.80
make those type of purchases.
00:18:20.80\00:18:21.93
They're not well thought out.
00:18:21.93\00:18:23.90
And areas that you buy something
00:18:23.90\00:18:25.53
that you already have six of.
00:18:25.53\00:18:26.94
You know, those are areas
00:18:27.87\00:18:29.60
in which we need to take
00:18:29.60\00:18:30.81
a lot of control over.
00:18:30.81\00:18:32.84
Typically, we're very good when
00:18:32.84\00:18:33.98
it comes to large purchases
00:18:33.98\00:18:35.51
because we do our due diligence.
00:18:35.51\00:18:37.75
But somehow we have a disconnect
00:18:37.75\00:18:39.91
when it comes to the daily
00:18:39.91\00:18:41.58
purchases, the small purchases.
00:18:41.58\00:18:43.39
>> And I think what makes it
00:18:44.15\00:18:45.32
difficult is that it's so easy,
00:18:45.32\00:18:48.29
you know, and so we...
00:18:48.29\00:18:49.92
And it's so- it's, you know,
00:18:51.23\00:18:53.46
even today in society, you push
00:18:53.46\00:18:55.56
a button and something happens.
00:18:55.56\00:18:57.03
And so we have that struggle
00:18:57.03\00:18:58.37
with trying to delay that
00:18:58.37\00:18:59.63
gratification and saying, okay,
00:18:59.63\00:19:01.34
just hit the pause button
00:19:01.34\00:19:03.77
and wait.
00:19:03.77\00:19:04.77
>> You're right.
00:19:04.77\00:19:05.74
Amazon is very easy.
00:19:05.74\00:19:07.74
[laughter]
00:19:07.74\00:19:08.71
>> So tell us about the Bible.
00:19:09.34\00:19:11.25
Is there something in the Bible
00:19:11.25\00:19:12.28
that can help us with
00:19:12.28\00:19:13.42
making a budget?
00:19:13.42\00:19:14.52
>> Yeah.
00:19:15.18\00:19:16.28
Let's turn in our Bibles,
00:19:18.22\00:19:20.36
and I would like to...
00:19:20.36\00:19:21.82
...read a verse found in
00:19:23.02\00:19:24.46
Matthew 6.
00:19:24.46\00:19:25.86
A little bit longer of a verse,
00:19:25.86\00:19:27.13
but I think it is so important
00:19:27.13\00:19:29.76
and it brings good perspective
00:19:29.76\00:19:31.53
into everything.
00:19:31.53\00:19:33.00
So Matthew 6 verses 31
00:19:33.00\00:19:35.54
to 34.
00:19:35.54\00:19:37.14
>> So how does that tell us
00:20:12.54\00:20:14.08
about making a budget?
00:20:14.08\00:20:15.58
>> So when we make a budget,
00:20:17.11\00:20:18.75
first and foremost, we need to
00:20:18.75\00:20:21.02
be so emotionally honest
00:20:21.02\00:20:22.65
with ourself.
00:20:22.65\00:20:23.72
And we need to have the...
00:20:24.82\00:20:26.96
...understanding and the asurety
00:20:28.19\00:20:30.09
right here in the Bible
00:20:30.09\00:20:31.93
that when we do a
00:20:31.93\00:20:33.03
full needs and wants analysis
00:20:33.03\00:20:36.13
and make our budget based on
00:20:36.13\00:20:37.83
our needs with prayer,
00:20:37.83\00:20:40.44
we can have faith that they
00:20:40.44\00:20:41.77
will be assured.
00:20:41.77\00:20:43.04
>> Well, I think what's
00:20:43.04\00:20:44.91
important to remember is
00:20:44.91\00:20:47.61
the importance of celebrating...
00:20:47.61\00:20:49.84
...everything that's...
00:20:51.71\00:20:53.58
...that moves you in the
00:20:54.65\00:20:55.75
direction you wanna go.
00:20:55.75\00:20:57.99
Again, this is a journey.
00:20:57.99\00:21:00.79
So everything's not
00:21:00.79\00:21:02.76
going to go...
00:21:02.76\00:21:04.03
...according to plan.
00:21:05.09\00:21:06.93
Life happens.
00:21:06.93\00:21:09.03
We have lapses.
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That's just what happens.
00:21:10.33\00:21:12.33
And like any other skill
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that you, that we develop...
00:21:15.20\00:21:17.31
...it takes repetition and
00:21:18.51\00:21:20.54
practice of like strengthening
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a muscle,
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that the more that you keep
00:21:24.65\00:21:26.15
repeating it over and over
00:21:26.15\00:21:27.92
again, because the
00:21:27.92\00:21:29.88
individual's gonna find out
00:21:29.88\00:21:31.82
that they created this
00:21:31.82\00:21:33.69
spending plan.
00:21:33.69\00:21:34.59
So remember I said at the
00:21:34.59\00:21:35.69
beginning, we're just gonna take
00:21:35.69\00:21:38.43
one month.
00:21:38.43\00:21:39.63
And now that we have
00:21:40.93\00:21:41.90
where we wanna be,
00:21:41.90\00:21:44.37
at the end of month two,
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we're gonna look at
00:21:46.63\00:21:48.14
how did we do.
00:21:48.14\00:21:50.31
Then we'll go back again and
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look at, okay, again,
00:21:51.54\00:21:54.08
these things where we spent,
00:21:54.08\00:21:55.54
well, what...
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It's kind of this process
00:21:56.51\00:21:57.65
of discovery...
00:21:57.65\00:21:58.71
...is what are the things that,
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gee, I really like?
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I can think of one of
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my clients where
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they love food.
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They love to eat well,
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they love to cook.
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Right?
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And asking them based on
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where they were now and
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what adjustments they could make
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so that they could move where
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they wanna go, they said, "Well,
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you know, I can make this
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adjustment because this over
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here is really important to me."
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And...
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...so they did it the
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first week.
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Then the next, I mean,
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the first month.
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Then the next month comes.
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Ah, they start falling off...
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...the bike, per se.
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And they say, "Oh, well,
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okay, let's renew the effort.
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Because, no, I'm not changing
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my priorities."
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Well, compared to where
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they started, they're moving
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in the right direction.
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It's okay.
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That's kind of how you're
00:22:58.84\00:22:59.91
discovering kind of the emotions
00:22:59.91\00:23:02.74
that go with it and beginning
00:23:02.74\00:23:04.41
to manage that.
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You just don't [snaps fingers]
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snap your fingers and think that
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you're there.
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That's one of the big flaws
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of what people are
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missing when they talk about
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budgeting.
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It's a journey.
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You're not gonna go from zero
00:23:20.96\00:23:24.07
to 90 miles an hour
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in two seconds.
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So be kind to yourself.
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Be kind to your partner.
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You're gonna discover things
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about yourself and you're gonna
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have to focus on,
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so are they.
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How do how do you want
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to be encouraged?
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How do you want to encourage
00:23:46.32\00:23:47.82
someone else?
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And to be able to say, "Wow...
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...look at the progress we've
00:23:54.10\00:23:55.46
made from where we were
00:23:55.46\00:23:57.80
three months ago,
00:23:57.80\00:23:59.00
four months ago.
00:23:59.00\00:24:00.40
We're we're staying the course.
00:24:01.47\00:24:03.91
That's the kind of environment
00:24:03.91\00:24:05.81
that is conducive for being able
00:24:05.81\00:24:08.64
to be successful.
00:24:08.64\00:24:10.01
It's not an all in,
00:24:11.55\00:24:13.92
all out...
00:24:13.92\00:24:14.88
...scenario.
00:24:16.65\00:24:17.59
It's a journey.
00:24:18.72\00:24:19.82
>> So you have to be realistic
00:24:21.39\00:24:23.36
with what you can set aside,
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and you just have to look
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specifically towards your needs
00:24:27.23\00:24:29.03
as well.
00:24:29.03\00:24:30.00
You know, as much as you want to
00:24:30.00\00:24:31.37
cut back, there's just certain
00:24:31.37\00:24:32.67
things that you are going to
00:24:32.67\00:24:33.97
have to spend on.
00:24:33.97\00:24:35.40
So you also don't want to live a
00:24:35.40\00:24:36.77
life where you're being too
00:24:36.77\00:24:38.84
frugal, that now, you know,
00:24:38.84\00:24:39.94
you're not buying healthy food
00:24:39.94\00:24:41.21
for your family because you want
00:24:41.21\00:24:42.34
to save, right?
00:24:42.34\00:24:43.31
Like at the end of the day,
00:24:43.31\00:24:44.48
you still want to take care of
00:24:44.48\00:24:45.85
yourself, take care of your
00:24:45.85\00:24:47.08
spouse, take care of your kids,
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but also save.
00:24:49.05\00:24:50.25
So you have to look at that
00:24:50.25\00:24:51.89
balance between being realistic
00:24:51.89\00:24:54.29
while also living a life that is
00:24:54.29\00:24:56.56
not, you know, one that you want
00:24:56.56\00:24:58.13
to escape from.
00:24:58.13\00:24:59.06
You should still be able to
00:24:59.06\00:25:00.60
live a fruitful life and a
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healthy one for your family.
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>> Sven, before we let you go,
00:25:04.70\00:25:06.53
do you have any final thoughts
00:25:06.53\00:25:09.24
for our viewers on making
00:25:09.24\00:25:11.21
and sticking to a budget?
00:25:11.21\00:25:13.07
>> You know, by utilizing
00:25:14.28\00:25:15.38
a budget, it's gonna make
00:25:15.38\00:25:17.58
the family come together
00:25:17.58\00:25:19.71
cohesively so that we can
00:25:19.71\00:25:21.18
realize our goals.
00:25:21.18\00:25:23.32
And that's going to, you know,
00:25:23.32\00:25:25.15
eliminate stress and so forth.
00:25:25.15\00:25:27.99
But ultimately, I think the joy
00:25:27.99\00:25:30.66
in actually having a budget and
00:25:30.66\00:25:33.33
utilizing it well is it also
00:25:33.33\00:25:35.93
frees up your ability to be able
00:25:35.93\00:25:37.93
to give and to help others.
00:25:37.93\00:25:40.20
And that truly brings
00:25:40.20\00:25:42.40
ultimate joy and
00:25:42.40\00:25:43.91
ultimate freedom.
00:25:43.91\00:25:45.21
You are being blessed because
00:25:45.21\00:25:46.98
you're being able to give and
00:25:46.98\00:25:48.21
then they are being blessed
00:25:48.21\00:25:50.01
by you as well.
00:25:50.01\00:25:51.21
>> Sven, that's so encouraging.
00:25:51.21\00:25:53.85
We've come to the end of our
00:25:53.85\00:25:54.85
time together.
00:25:54.85\00:25:55.82
I wonder if you could pray for
00:25:55.82\00:25:56.85
our viewers, to pray for them,
00:25:56.85\00:25:58.49
that they'll have the wisdom and
00:25:58.49\00:26:00.09
the willpower to make and stick
00:26:00.09\00:26:02.66
to a budget?
00:26:02.66\00:26:04.19
>> Absolutely.
00:26:04.19\00:26:05.16
[calm music]
00:26:05.16\00:26:06.73
Dear Father, I wanna thank You,
00:26:06.73\00:26:08.30
you know, for Your love
00:26:08.30\00:26:09.40
and for our viewing audience.
00:26:09.40\00:26:11.80
I would just like You to wrap
00:26:11.80\00:26:13.13
Your arms around them,
00:26:13.13\00:26:14.17
to give them the courage
00:26:14.17\00:26:16.67
and the willpower to be able to
00:26:16.67\00:26:19.14
work through a budget
00:26:19.14\00:26:21.71
together with their history
00:26:21.71\00:26:24.81
and help them to be able to be
00:26:24.81\00:26:26.41
consistent and do it every week
00:26:26.41\00:26:27.95
so it doesn't become
00:26:27.95\00:26:29.52
over burdensome.
00:26:29.52\00:26:31.29
So thank You, Lord, for Your
00:26:31.29\00:26:32.39
love and Your watch care
00:26:32.39\00:26:33.69
and Lord, thank You for
00:26:33.69\00:26:36.16
Your Bible promises
00:26:36.16\00:26:38.26
that we know that our
00:26:38.26\00:26:40.43
needs are sure, Lord.
00:26:40.43\00:26:41.10
needs are sure, Lord.
00:26:41.10\00:26:42.80
So thank You again, Father,
00:26:42.80\00:26:43.97
for Your love.
00:26:43.97\00:26:45.07
Your name I pray, amen.
00:26:45.07\00:26:46.23
[MIKE] Amen.
00:26:46.23\00:26:47.20
>> Sven, thank you so much
00:26:47.80\00:26:49.24
for joining us on
00:26:49.24\00:26:50.57
It Is Written Canada again.
00:26:50.57\00:26:52.41
>> You're very welcome.
00:26:52.94\00:26:54.01
It's been my pleasure.
00:26:54.01\00:26:55.11
>> Friends, our free offer is a
00:26:56.71\00:26:58.88
most powerful little book on
00:26:58.88\00:27:01.78
how Christians relate to money,
00:27:01.78\00:27:04.02
and it is entitled
00:27:04.02\00:27:05.49
Jacob's Pillow, written by
00:27:05.49\00:27:07.06
our friend Shawn Boonstra.
00:27:07.06\00:27:09.02
>> Jacob's Pillow is a treasure
00:27:10.09\00:27:12.09
of practical advice and
00:27:12.09\00:27:14.00
instruction from God's Word,
00:27:14.00\00:27:16.50
and includes a simple
00:27:16.50\00:27:18.23
budget outline in the back.
00:27:18.23\00:27:20.54
>> Before you go, we would like
00:27:21.44\00:27:23.14
to thank all of you who have
00:27:23.14\00:27:24.87
supported the ministry of
00:27:24.87\00:27:26.04
It Is Written Canada
00:27:26.04\00:27:27.34
with your prayers and
00:27:27.34\00:27:28.94
financial contributions.
00:27:28.94\00:27:30.85
Without your support, this
00:27:30.85\00:27:32.75
television ministry could not
00:27:32.75\00:27:34.68
have reached so many people
00:27:34.68\00:27:37.12
for so many decades.
00:27:37.12\00:27:39.09
>> Yes, thank you.
00:27:39.75\00:27:41.89
And we would like to invite you
00:27:41.89\00:27:43.89
to follow us on Instagram and
00:27:43.89\00:27:46.23
Facebook and subscribe to our
00:27:46.23\00:27:48.66
YouTube channel, and also listen
00:27:48.66\00:27:51.00
to our podcasts.
00:27:51.00\00:27:52.77
And if you go to our website,
00:27:52.77\00:27:53.80
And if you go to our website,
00:27:53.80\00:27:55.00
you can see our latest programs.
00:27:55.00\00:27:57.77
[MIKE] Friends, if you want the
00:27:57.77\00:27:59.07
kind of wisdom that God longs to
00:27:59.07\00:28:01.44
give you, even in the financial
00:28:01.44\00:28:03.78
areas of your life, we recommend
00:28:03.78\00:28:06.05
that you open this book,
00:28:06.05\00:28:07.72
the Bible, where it is recorded
00:28:07.72\00:28:09.95
that Jesus found His assurance
00:28:09.95\00:28:12.42
to defeat the Devil through
00:28:12.42\00:28:14.12
the Word of His Father
00:28:14.12\00:28:15.99
when He declared...
00:28:15.99\00:28:17.29
[calm music]
00:28:26.53\00:28:29.54
¤¤
00:28:29.54\00:28:32.54