Video

Adventist minister uses ‘that swear word’…

(Video of an informal dialogue with Seventh-day Adventist pastor and British Union Conference President, Pastor Ian Sweeney, who kindly shared views of money management)

But he uses what we call ‘that swear word’…!

Here is our transcript of the “SMARTER Finances” panel session for the Pi Tau Omicron (ΠΤΟ) Sorority Year End Celebration.

Hosted in London (December 2013), the Panel explains why we think of it as ‘that swear word’ -the word  “BUDGET”….

Panel Chair: What a practical video!  Pastor Sweeney’s comments were made last year in 2012,  but his views are just as valid today. Panel, what do you think?

Delegate 1: You know, in the presentations I have done with community groups or church members during Stewardship Days, I always find it fascinating the negative emotions that go along with the word ‘budget’.

Delegate 3: That is so interesting, I find the same thing with the sessions we provide back home in the States!

Delegate 2: It’s not a surprise when you look at its earliest definitions, (I’ve just looked it up on Dictonary.com)… This shows that word originally derived between 1400–1450; from the late Middle English word ‘bowgett’  or the Middle French word ‘bougette’  (bouge = bag), or  the Latin word ‘bulga’ + -ette.

Delegate 1: Oh yes, it describes the small pouch or bag of money, often worn at the waist or hidden in your garments to protect against pickpockets and other theives.

Delegate 4: ….and this bag was usually under the sole control and decision-making of the man of the house….

Panel Chair: …and that’s a topic I’m sure could be used to start a whole other panel discussion!

(Laughter from conference delegates and Panel members)

Delegate 3: Well, I’m happy to stay on this subject – I want to hear all about this ancient bag of money, we don’t have this kind of old stuff in the States with all your 1066 history…!

(Laughter from conference delegates and Panel members)

Delegate 2: It had a tightly secured, small opening – so you could put your coins in – but was quite difficult to dip into and get money out of.

Panel Chair: So that’s why ideas of a calorie-controlled diet comes to mind when people use the word “budget”…?

Delegate 2: Yep! So, the definitions in Dictonary.com are no surprise – the noun ‘budget’ is defined as:

  1. an estimate, often itemized, of expected income and expense for a given period in the future.
  2. a plan of operations based on such an estimate.
  3. an itemized allotment of funds, time, etc., for a given period.
  4. the total sum of money set aside or needed for a purpose
  5. a limited stock or supply of something

and the words ‘budgeted’, and ‘budgeting’ often relate to subsistence living; when you ‘live within a budget’.

Delegate 5: … Urgh! No wonder the very word makes me shudder!  A ‘budget’ is often synonymous with feelings of being on a diet, a restriction  – the feeling you have  little or no control … I don’t like owing money but it feels like you are always racing to pay off your bills, of feeling chased down by creditors, burdened by down if like me you have student loans still to sort out.  It just feels like ‘calorie-controlled’ spending with very little room for the fun stuff.  And, like being a diet, it is so easy to lose heart and fail …So you often hear about people ‘blowing their budget’!

Delegate 4: Exactly.  So I actually avoid the word “budget”. Treat it like a swear word, not used in good company and avoid it.  I prefer to think about having a ‘Spending Plan’ instead.

Delegate 2: Give me a Spending Plan anyday… it’s a flexible way to decide how to use your income in that month/ week to meet all of your expenses, contribute to your savings goals and allocate money for the fun things.  And its such a flexible approach … more feeling that you have a coffer or chest of money that you manage rather than a tight-mouthed, tiny purse you force money into or try to prise money out of….

Panel Chair: So now we should pretend we have a treasure chest full of cash?

Delegate 2: OK, yes, in these times it may often feel like we’re all working with a very small sweetie tin rather than a massive chest full of notes and coins, but work with me here!

(Laughter from conference delegates and Panel members)

Delegate 3: I prefer to use the phrase ‘Spending Plan’ when I talk about my regular income and outgoings management.   First I do the ‘audit’ so I know for sure what is coming in this month down to the dollar.  And only then do I decide how my money is used to ‘handle my business’ like the list of expenses you show here (points to the presentation on screen).  So, yeah, I can choose this month not to pay my utilities or my cell phone costs … as long as I am prepared to live with the consequences…

(Laughter from conference delegates and Panel members)

Delegate 1: I agree. With the Spending Plan mentality, I decide the how and when for my money, making sure I make informed choices, taken on a timely basis and based on the information and opportunities that I have in that period.

Panel Chair: So, whether it’s dollars like my friend here, or Euros or Pounds for us in Europe, sometimes the Plan stays the say as circumstances remain steady, other times it may need to change? And a Spending Plan means you can be flexible to take account of these changes when they occur?

Delegate 2: Absolutely!.  You know, it may seem like this approach is more of a state of mind rather than a different activity but that’s just it.  Both are spending.

Delegate 4: You know panel, it all about how you think and behave with your money that makes the difference to whether you’re a success or failure in meeting your financial goals – in the short or long term!

Panel Chair: Panel, thank you for such a lively start to this discussion.  Let’s go to the Q&A and take some questions from our other Sorority delegates.  Over to you ladies!

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