Do you ever feel like your income just isn’t enough to cover your bills or unexpected expenses? And, no matter how hard you try to stop living paycheck to paycheck, something is still missing?
We have been there, and it’s exhausting just thinking about it.
I still remember all those days I would sit down in front of a computer to create our first real budget. I had many tabs open about using the best budgeting templates and how to start making an efficient budget to make sure our finances were in order. What we didn’t expect was how emotional it would be. It was scary, yes, I can admit to that, and honestly, there were just so many resources out there that we just didn’t know which one to use. But guess what? What changed everything was turning to prayer first.
As Catholics, it’s not just about handling money, it’s about stewarding God’s blessings. When we first heard this, we had an “aha” moment that completely changed how we viewed our finances.
You might be wondering, “What exactly is stewardship?” Well, according to the dictionary, it’s the responsible management of something that has been entrusted to us. There are many forms of stewardship, like our time, talents, and money. As Catholics, we are called to recognize God as the ultimate source of all our blessings.
That means we are invited to share these gifts as an act of love and gratitude, and yes, this includes our finances.
But let’s be real, how can we share these gifts when we’re already living paycheck to paycheck? We had the same question. We couldn’t see how it would ever work. I’ll be honest with you, we didn’t even want to make it work at first or even think about it. We thought, “If we’re barely covering our bills, how can we possibly give money?”
Now, to make things clear, we are not saying that you should start giving everything away. What you need is a plan, specifically, a budget. We need a tool to keep us organized and understand what is happening with our finances! A budget will help you see where your money is coming from and where it’s going. Budgeting isn’t about obsessing over money. It’s about being wise, intentional, and faithful with what God has entrusted to us. With this clarity, you can start organizing your finances to create a plan that actually works.
Yes, you’ve probably heard it a million times, “Make a budget,”. And yes, that advice is absolutely correct. This is where we all should begin. Creating a budget isn’t just a financial task, it’s an act of stewardship. It starts by recognizing that God has entrusted us with this treasure, and through prayer and commitment, we can manage it wisely and faithfully. However, as Catholics, we can sometimes forget that our income, no matter how big or small, is a huge blessing from God.
Recommended reading: The Importance of Budgeting as a Catholic: How Catholics Can Budget with Purpose
Eight Steps to Create a Catholic Monthly Budget
Here are eight simple steps to help you create a budget while being Catholic.
1. Choose Your Budgeting Method: Digital or Paper
Creating a budget is a powerful first step toward breaking the cycle of living paycheck to paycheck. Everyone has different preferences, so choose a method that best works for you. This will keep you engaged in tracking your finances!
Some people prefer digital tools because they make calculations easier and faster. We use a little bit of everything, such as electronic files to help us calculate super fast, but sometimes it’s pen and paper that help us. (One of us is an engineer, so the hands-on process really helps.)
You can do the same! The important thing is to choose a format you’ll actually stick with. You might find plenty of templates online or even create your own, but if you would like a simple automated system without leaving your faith out of the process, we have created The Catholic Budget System just for you!
2. Budget Together with Your Spouse
You can skip this step if you are not married.
If you are married, don’t forget the promise you made before God at the altar. Marriage is not just a commitment between two people; it’s a holy sacrament, and God is the center of the marriage. That means when you begin budgeting, it’s not just about doing it solo or crunching numbers, it’s about unity, stewardship, and honoring your vocation together. You must include your spouse in the process. And sometimes, that is the hard part.
There were days when we made mistakes in the budget, such as forgetting a bill or even a birthday that month. This was sometimes hard because we needed to see everything again to try to adjust by cutting down the “fun” stuff, or if it was not possible, then trying to find ways to make some extra income. We learned that budgeting is not a one-and-done task, but it’s a journey.
Working together will build trust and encourage open communication, strengthening your bond. It will help both stay aligned, not just financially, but also spiritually. In other words, no secrets, no surprises, just honesty and teamwork as one flesh.
Recommended reading: How to Include Your Spouse in the Catholic Budgeting Process (and Strengthen Your Marriage Through It)
3. Begin with a Prayer
After you choose your budgeting method, one of the most important priorities to include in your process is prayer. Beginning each budgeting session with a prayer invites God into the center of your financial decisions.
Trust me, it makes a big difference. Your mind shifts from fear and frustration to gratitude and trust in the Lord Jesus Christ. Our recommendation to you to make this a meaningful and dynamic part of your routine is that we encourage you to read and reflect on Philippians 4:6. Let this be your reminder that you’re not budgeting alone. God is with you in every decision.
Budgeting Prayer Example:
“Lord Jesus Christ, thank You for all the blessings You have entrusted to me.
Grant me wisdom and understanding as I prepare my budget this month.
Help me to keep You at the center of my life and my finances,
so that I may steward these gifts well and share Your love with others. Amen.”
4. List all your Income Sources
Whether you’re scribbling or typing, let’s get started! Start by writing down every source of income you expect to receive for the month. It could be a regular paycheck, weekend babysitting, or rent from a property. If you’re expecting it, list it! Having a clear picture of your total monthly income will help you plan realistically and with confidence.
Keep in mind that income sources can change from month to month, which is why it’s important to review and update your income list monthly. Need help organizing your income and expenses? We have created a 1:1 Zoom session to help you set everything up by using The Catholic Budget System. Request a session if this is something you would like.
5. Plan your Giving
You might be thinking, “I’m already supposed to think about giving in this step?” Yes, and that’s exactly what stewardship is about.
As Catholics, this is the moment to begin praying about how much we are called to give back to the Lord. It’s not just a line item in your budget, it’s an act of faith and love. God calls us to share our treasures and support those in need, and how we do that will look different for each person. The key is to listen, both to your heart and to God’s guidance.
In the Old Testament, Deuteronomy 14:22 speaks of offering a tenth to the Lord. That may be a goal for you, or maybe, like us, we’re still working toward that. Every time we sit down to budget, we ask God to show us what He wants us to give. It’s not always easy. It takes surrender and sometimes sacrifice, but it’s worth it. Give it a try. Start with prayer and giving, and take the next step in faith.
6. List all your Expenses
Now it’s time to write down all your expenses, everything from bills and debt payments to your mortgage or rent, insurance, savings contributions, and everyday spending. Be thorough. That means digging into receipts, bank statements, and subscriptions to capture every dollar that leaves your account.
Personally, we open all our financial accounts and go through each transaction line by line. It’s not the fastest process, but it helps us make sure nothing gets overlooked. We often have to review things multiple times, but it’s always worth it. When you see your spending laid out in front of you, it’s eye-opening.
In fact, during this step alone, we have canceled subscriptions we didn’t even remember we had. You might be surprised by how many unnecessary expenses are hiding in plain sight.
Recommended reading: A Catholic Approach to Spending: Needs vs. Wants with Purpose
7. Is your Budget a Zero-based Budget?
You may have heard of this method before, or maybe it’s new to you. A zero-based budget is a simple but powerful approach where your income minus your expenses equals zero. Makes sense, right?
Every dollar you earn is given a specific job before it’s spent. This method helps you become more intentional with your money, and you’ll know exactly where your income is going. The great thing about this is that you can adjust or cut back if needed. It’s completely flexible. Once you see how every bill and expense moves, you can make changes that will work for your particular situation. A zero-based budget is one of the best ways to take control of your spending habits and manage your finances with purpose.
Recommended reading: Why and How Every Dollar Should Be Assigned in Prayer: Zero-Based Budgeting as a Catholic
8. Review and Adjust
You now have a basic, clear picture of your finances. You now understand what’s coming in and what’s going out. Congratulations! That’s a big step. However, now that you have the clarity, it’s time to review and make adjustments, if needed. Maybe dining out too often is something you can cut back on, or perhaps there’s another area that could be trimmed. That’s okay, go ahead and make those changes.
We are always adjusting numbers just to make sure that we are meeting the needs of our family. It might seem like a lot of work at first, but we promise it’s worth it. You might not get it perfect on the first try or even the second or third, and that’s okay. Nothing is perfect, and progress matters more than perfection. The important thing is having the humility to accept that we are always learning and growing. Especially in how we align our finances and lifestyle with our Catholic faith.
Recommended reading: Financial Confession? How Catholics Can Examine Their Budget Spiritually
How to Budget as a Catholic and Take Control of Your Income – Summary
- As Catholics, budgeting is not just financial, it’s spiritual stewardship.
- We are called to manage finances faithfully.
- A budget helps you see income vs. expenses clearly.
- The 8 Steps to create a Catholic monthly budget.
Ready to take control of your income with peace and purpose?
Download The Catholic Budget System and begin budgeting as a form of stewardship today.
We are praying for you!
