Forget the Budget, Use A Spending Plan

‘If you are saving you don’t need a budget’

It sounds like a radical statement, but is it?

An early morning conversation between Robbo and Becci on Vision Radio’s Rise and Shine breakfast show included an introductory preamble as the pair prepared to introduce guest Greg Lanyon.

Greg’s a financial planner and the development partner for the Australian branch of US based Crown Financial Ministries.

‘We’re saving because we’ve a budget’

Robbo and Becci

Becci and Robbo

Becci said she’d heard someone say if you’re saving you don’t need a budget. Really?

“Yes. As long as you are saving you don’t need a budget. And I thought that sounds contradictory, because we’re saving only because we’ve a budget,” Becci said, and Robbo thought her comment sounded reasonable.

“But I wonder if there’s a danger in that?” Robbo queried before throwing the question to Greg Lanyon to shed some light on the subject.

‘Mention the word budget and people freeze up’

“I think a budget or a spending plan is really, really important for everyone,” were Greg’s first words before he explained why he preferred to call it a spending plan.Image result for home budget images pics

“It’s the terminology. Every time you mention the word budget people freeze up,” Greg said, saying the budget has to be adopted as a spending plan.

Greg Lanyon said Crown Financial Ministries has a whole subject on a spending plan, what it is and how it should be put together.

“A spending plan can be constructed to give people real liberty and freedom in their lives when it comes to the financial aspects,” Greg outlined.

‘Everyone in work is actually saving’

Then he delivered another thought-provoking statement.Related image

“Everyone in work is saving. And it’s through superannuation that there’s a long term savings plan,” Greg said, saying many people don’t realise they’re actually saving for their retirement.

“But when it comes to people’s income, be it $50k or $100k, and they have that income for their working lives, say from 25 to 65, that’s 40 years and when you multiply that it’s a lot of money,” Greg shared, saying people’s income is the greatest asset they have.

‘The income they are earning needs to be treated as a great asset God is giving them’

“They might have a house that’s worth a considerable amount of money or other investments, but the income they are earning needs to be treated as a great asset God is giving them through work and it needs to be managed and stewarded well,” Greg advised.Related image

He said the income should provide an amount for saving and also include an amount to give to charities or church ministries which is fundamental to a savings plan.

Robbo proposed three fundamentals; giving, saving and spending, and asked Greg to expand on those categories in relation to a family situation.

Greg said he’s been in the financial services industry for more than 30 years.

‘Do you have a spending plan?’ ‘No.’

“The people I’ve talked to over this time who are looking ahead to retirement, the first thing I’ve said to them is;Related image

‘Do you have a spending plan?’


‘Well how much do you think you’ll need to live on in retirement?’

‘Well, I’m not sure.’

Greg Lanyon has repeated these words many times over.

‘Most people I know who have a spending plan save a whole lot more money’

“Well, the only way to do that is to work out a spending plan. And most people I know who have a spending plan save a whole lot more money,” Greg testified, saying these folk are also able to provide for those on their hearts and for the things they’re passionate about.Related image

Greg again confirmed that God’s the provider of our income.

“We need to manage it well because that’s what He’s asked us to do. This actually helps us to pass our legacy on to our children and for them to manage their income well. This brings a financial freedom to people’s lives when they manage their resources well,” Greg expressed.

Robbo commented on the pocket money he gives to his sons and what is said to them when they receive it.Related image

“We say, now what does God want you to do with this money?” To which Robbo’s boys have learnt to respond, saying, “To be a good steward of it.”

‘Greg Lanyon said Bible stewardship is about good management’

“God has given us our homes, our cars, our families, and our income, to manage well and of course when we get to the end we want to hear, ‘Well done good and faithful servant.”Related image

“What God has given us in our income that we earn when we go to work. That’s our ministry when we go to work, we work for God not our employer,” Greg implied, saying that impacts on the way we do our work and our attitudes.

“But that doesn’t exempt us from issues that come up. We still get flat tires, tires that wear out and cars that need servicing,” Greg said, saying his business, Crown Financial has a money map that helps people who are starting out.

‘A spending plan essential for everyone’

“It helps them how to begin to save and what to save for. And I think it’s really important that people have at least 6 to 12 months savings in their account for any emergencies,” Greg advised.Related image

“This also prevents a lot of stress and it’s a big relief for families knowing they’ve got this fallback.”

“And this is all interwoven. So when it comes to a spending plan people need to have a series of questions where they ask themselves, ‘Do I really need this particular purchase?’’ Greg said.

“A spending plan is essential for everyone.”


To contact Greg Lanyon –  Mob – 0419964949 / Email –

The Intent of Crown Financial Ministries Australia Ltd:

Crown’s role is to train people to be financially free. The main way that this is achieved is through a 12 week bible study that churches and other community groups use for their members to be taught not only what the Bible says about handling money, but also the practical applications involved of developing a personal finance statement, recording income and expenditure, putting in place debt repayment plans and establishing a budget.

Crown also holds regular one day seminars to teach Business Owners and Managers these principles.

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