Do You Know the 10–10–80 Plan for Budgeting?

Please Pray for My Maximum Investment Seminars

Sometimes a decision that seems like a good opportunity can actually take us away from another opportunity that God is leading us to pursue!

If I had taken the assignment for the two-church appointment, it would have effectively brought an end to my attempt to get started with my Maximum Investment Seminars. I am so thankful that I did not take that assignment, because I believe God is opening some exciting doors for these seminars.

I want to ask for your prayers because next Saturday, August 1, I will be leading a Maximum Investment Seminar in Texarkana, Texas, at Hardy Memorial Methodist Church for a group of approximately 15 young people, ages 18 to 22 or so. I am very excited about this opportunity!

I am also in conversation with two other pastors about two more Maximum Investment Seminars, and I am praying that God will open these doors, as well as many others, in the days to come.

The Maximum Investment Seminars are something I thoroughly enjoy doing, and I truly believe they can be helpful for the young people who attend. I believe that learning how to handle money wisely is one of the most practical ways we can help young people prepare for their futures.

Several of the key points from the seminars are:

1. God owns it all. We are merely stewards of what God has provided for us, and we will give an account to God for how we steward what He provides.

2. You need a budget! This is crucial for being a good steward of our financial resources.

3. You should know your net worth. You should be keeping up with this on at least a monthly basis.

4. You should always be seeking to increase your financial intelligence. This will help you on multiple levels throughout your life.

One of the key things in establishing a budget is knowing your percentages for the different budget categories. As I grew up, I learned the 10–10–80 plan for budgeting:

• 10% or more for GIVING

• 10% or more for SAVINGS

• 80% or less for your LIVING EXPENSES

You will also have categories within this 80% for housing, utilities, insurance, groceries, eating out, subscriptions, cars and gas, entertainment, and other living expenses.

I think it is very interesting that if you try to go online or ask ChatGPT for a model for budgeting today, you will most likely see the 50–30–20 model for budgeting.

This model generally says:

• 50% for living expenses such as housing, utilities, groceries, vehicles, gas, and insurance

• 30% for enjoyment

• 20% for savings, debt reduction, and giving

Now, I am certainly not suggesting that everyone who follows the 50–30–20 model is making poor financial decisions. However, I do think it is interesting to consider the emphasis that each model places on the different areas of life.

In the 10–10–80 model, giving and saving are placed at the very beginning. They are intentional priorities. The first 20% of your income is set aside for giving and savings, and then you live on the remaining 80%.

In the 50–30–20 model, giving is almost always the very last thing mentioned, and savings can also seem to be an afterthought.

I believe this difference in emphasis is incredibly important.

I hope you can see why trying to educate our youth and young adults regarding finances is so very important! How we handle our finances can totally shape our lives and our futures!

So many young people have no real financial plan at all until they are so far in debt that it can seem hopeless. Many other young people are adopting a financial model that places a much greater emphasis on enjoyment than on giving and saving.

And the decisions we make when we are young can have consequences for many years to come.

I sure hope that I can make at least a small impact and some kind of difference for at least a few young people. I hope that I can help them understand that financial decisions are not simply about money. They are about priorities, discipline, stewardship, generosity, and the kind of future we are preparing for.

How we handle our finances will most certainly shape our future.

So, please pray for me as I lead this Maximum Investment Seminar next Saturday. Please pray that God will use me to make a difference in the lives of these young people. Please pray that the Lord will open additional doors for these seminars. And please pray that I will always remember that the ultimate goal is not simply to teach people how to manage their money.

The ultimate goal is to help people become better stewards of everything God has entrusted to them for His glory and for His Kingdom!