I was 10 years old when my parents divorced. They told me the day after Christmas about the divorce and within a few months, a lot changed. My mother, brother, and I moved to Minden to be closer to family. My dad’s role in my life was very limited. While we weren’t rich by any means prior to the divorce, money was tight after the divorce.
My mother worked five days a week as a receptionist and worked Saturdays at a “family” owned clothing store. Sundays were focused on attending church, washing clothes, cleaning the apartment, and shopping for groceries. She was busy to say the least. She was focused, depressed, and many other things.
Even as a pre-teen and early teen, I understood our financial situation. I knew we qualified for free lunch at school, but she refused. We qualified for various forms of aid, but she refused. She always found a way to provide meals for us. It was tight, there was no extra, but she managed.
I remember coming in from practice as a teenager and being hungry between meals. There was just enough lunch meat to get all three of us through the week, but there was plenty of bread. I remember her eating mayonnaise sandwiches at times to save bologna for us, so I thought I would give it a try. Not great, but it took care of the hunger.
Budgeting was essential. I needed to be somewhat self-sufficient for anything beyond those basic needs that mom provided. I needed to work and save money for a car, insurance, gas, etc. There were summer jobs and leaf raking opportunities during Thanksgiving and Christmas holidays. I had to monitor my spending but also generate as much revenue as possible.
I share that story because those principles are timeless and relate to individuals, businesses, and organizations of all types. Budgetary spending control and revenue generation go hand in hand. It’s not one or the other, but rather both. Spending control provides the disciplined approach to focus on priorities and eliminate wasteful actions. Revenue generation will dictate the spending levels that one can pursue, the impact one can have, and the scale that one can seek.
The key for individuals, business organizations, governments, and educational systems is to balance spending with revenue generation. It’s such a simple concept that so many struggle with at all levels. While it’s so simple to understand, it’s not easy to accept. It’s not appealing, it’s not always enjoyable, nor is it always comfortable. However, it’s the responsible approach for stability, peace of mind, and lasting fulfillment.
The problem is that we don’t teach it, model it, or seem to value it.
Our federal government owes $36 Trillion in debt. Consumer debt in the US is estimated to be approximately $18 Trillion.
Our state government is currently struggling to enact real change to facilitate growth within the state.
It is estimated that approximately $16 billion was spent on the 2024 election campaigns, $2 billion on paying college athletes this year, and $200 million on coaching buyouts (paid not to work) in the last twelve months.
Those facts tell a lot. We don’t balance revenue and spending. We don’t seem to value fiscal responsibility. We have questionable financial priorities.
If a twelve-year-old can manage a budget, make trade off decisions, and think longer-term, why can’t those running our nation, our state, and our organizations and agencies do the same.
Maybe we all need to make a mayonnaise sandwich, rake some leaves, and get a new perspective!
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