A Cowboy’s Faith: Income must balance expenses

A Cowboy's Faith: Click to read more from Frank J. Buchman.“What happened to all of my money?”
More often than ever, likely, people are asking themselves that question.
Most incomes, despite never being considered enough, are higher than in all of time.
Yet, when month’s end comes the bank account shows nothing or less than that.
It’s a forever situation, but certainly there must be a compounding, because many don’t understand how to keep track.
Honestly, there is very little demanded schooling on how to keep records. Thus, most people have no clue how to record what comes in, and the spending that goes out.
Never has record keeping been done eagerly, but the point came home at the 4-H achievement banquet recognizing project winners.
Formerly 4-H members were required to complete annual records of their projects emphasizing costs and returns. Today, it’s optional and low percentage turn in record books. Consequently, they don’t know how.
Same goes for the vocational agriculture students once demanded to keep exact tally of income and expenditures. Too often that’s not the case anymore.
Now, those youth leadership club members miss out on many awards for failing to complete records.
That’s sad, but real dilemma is those people who don’t even know how to even balance their checkbooks.
Youth organizations are but a small percentage of the coming business generation, and there’s even less training for those others.
Only students in business classes, economics and certain math courses are educated some about receipt and expense tabulation.
So, a very low percentage of the population knows how to figure where their money goes if they know where it comes from.
That has to be the reason there are record numbers of credit card debts. Certainly, bankruptcy cases are expanding more rapidly, too. It’s all due to not recording where the funds are going.
There’s no easy answer. First and foremost, very few people like to keep records.
Bigger issue is that most others have no knowledge about the importance of keeping track of their money. Then, they’ve never been educated about how to balance their checkbooks, let alone all other complexities.
The only possible solution is get back to basic financial education on all levels from grade school up.
Remember Genesis 47:22: “They received an income and lived on that income.” Yet, Acts 21:24: “All expenses were paid in full.”


030615-franksmug2Frank J. Buchman is a lifelong rancher from Alta Vista, a lifetime newspaper writer, syndicated national ag writer and a radio marketing consultant. He writes a weekly column to share A Cowboy’s Faith.

Contact us: Osage County News | P.O. Box 62, Lyndon, KS 66451 | [email protected] | 785-828-4994 | Powered by Osage County, Kansas