Hey, ever look at your budget and feel like there's absolutely
nothing you can cut, like every single expense feels essential.
Today we're getting real about how to tell the difference between what you
truly need and what you simply want.
Hey there, and welcome back to Your Daily as Ralph.
I'm Ralph, and it's great to have you here.
As we keep building on our series, the Joy of Living Below Your means, we're working
towards breaking that cycle of financial shame and doing it with confidence.
Now, yesterday we scheduled that all important weekly money check-in.
Today we're digging deeper into our spending itself.
So you've got your budget draft, maybe you're even tracking
spendings, you're checking in.
But when you look at the numbers, perhaps you're still feeling stuck.
You know you need, or you want to reduce those expenses,
maybe to pay off debt faster.
Maybe you wanna save more or just have some breathing
room, or what I call margin.
But when you look at each of these categories, you think, I can't cut that.
I need it.
Everything starts to feel like a necessity.
From the streaming services to the daily coffee to the latest phone upgrade, that
feeling of being trapped, believe in, there's absolutely no fat to trim in your
budget because everything feels essential.
I. That's the single challenge we're digging into today.
'cause it keeps us from making progress because we can't identify
where changes are possible.
And here's the thing you need to understand.
Our culture is brilliant and convincing us that our once are actually needs marketing
messages constantly blur the lines.
Plus we get used to certain conveniences or luxuries in our lives and they
start to feel essential over time.
But the Bible encourages a much different perspective, and Jesus
tells us not to worry excessively about food or clothes ' cause our
heavenly Father knows our true needs.
That's right in Matthew chapter six and in one John chapter two, the Bible
warns about letting worldly desires.
And it says this.
It says The lust of the flesh, the lust of the eyes, and the pride of life.
And it warns us not to let those things take over.
They're strong words, but they're extremely useful.
I see.
Getting honest about needs versus once requires us to push back
against the cultural norms and even our own internal rationalizations.
So you might be asking, Ralph, how do we break free from the feeling like
every expense is, non-negotiable?
How do we gain the clarity needed to make intentional spending
cuts if they're necessary?
Well, a single crucial solution is this to honestly and objectively distinguish
between your true needs and your discretionary wants within your budget.
Think of it this way, needs, those are those absolute essentials for survival
and basic functioning in our society.
General things like basic housing, essential utilities like
water and heat and electricity.
It also includes things like core food, staples, simple groceries.
It also would include essential clothing and basic transportation to work or
to school and essential medications.
But then there are these things that we call wants, which is
pretty much everything else.
And this includes entertainment, eating out vacations, hobbies, yes,
those subscription services, fancy coffee, upgraded electronics, brand
name, clothing beyond their basic function, convenience services, and
you get the idea and so on and so on.
And I'm betting I probably named some of your vices there.
I know I named many of mine.
Now listen wants aren't necessarily bad, but they are optional.
And see, gaining this clarity doesn't mean you have to
eliminate all once immediately,
but it does empower you to see exactly where your discretionary spending
lies, making it much clearer where cuts could be made if needed to
achieve your overall financial goals.
The solution is this, it's clarity through honesty.
You gotta label your needs in once.
Okay, so here's your one action step for today.
Grab your budget draft, or your recent spending tracker and
set aside 10 or 15 minutes.
And what I want you to do is go line by line.
I want you to look at each category or significant expense
and ask yourself this question.
And you gotta be, honestly, honestly, ask yourself, is this a true need for
survival and basic functioning, or is it a want that enhances my life?
But isn't essential.
And then I want you to label it really simple.
I want you to write an N for a need or a W for a want next to each item.
I want you to be tough, but I want you to be fair and listen.
If you're married, do this together because it might spark
some interesting conversations.
Now listen, no judgment yet.
Just remember the goal today isn't necessarily cutting, it's just
honestly labeling and gaining clarity.
See how much of your spending falls into that want category.
' cause the results might just surprise you.
And now you might be asking, Ralph, why?
Why do this labeling exercise?
Because it directly attacks that painful feeling of being
stuck with no room to cut.
It forces clarity and exposes the reality of your discretionary
spending, and it empowers you to show exactly where you do have choices,
which makes future decisions about potential cuts so much less daunting.
How about we pray together?
Father God, thank you for providing for our true needs.
Lord, give us the wisdom and the honesty today as we examine our spending.
Lord, help my friend listening to clearly distinguish between genuine needs
and those discretionary wants without making excuses or even feeling guilty.
Grant them your perspective, Lord, rooted in contentment and stewardship, not those
worldly desires that are all around us.
Lord, we ask that you help bring clarity, and bring freedom and and empower wise
choices as they manage their resources that you've already entrusted to them.
Lord, we just thank you for your abundant grace and we ask this in Jesus name.
Amen.
Alright, well I want you to take some time today for some honest
reflection on your needs versus wants.
I'm gonna tell you right now, it's gonna be an eye-opening exercise for you.
And remember this.
Clarity is kindness to your future self.
Okay, so we've identified needs and wants.
Now tomorrow we're gonna go zoom in on one very common want that adds up fast.
So be sure to join me back here on Ask Ralph as we explore a common
want and the surprising impact that small changes can make.
And listen, if this episodes help bring some clarity, do me a favor
and please share it with somebody.
You can find resources and links.
In the show notes or@askralph.com, and I'm gonna also ask you to please
consider support in the show by going to ask ralph podcast.com/support.
So until tomorrow, seek honesty in your finances and keep seeking him first.
Stay financially savvy and God bless you.
Have a great day today.