The Church of England is launching an easy-to-use interactive online resource for working out a household spending budget, with helpful prayers for guidance (both attached), emphasising that the Bible teaches us to be content with what we have, rather than find satisfaction from over-spending.

It comes as the Chancellor of the Exchequer prepares to announce changes to taxation, benefits and spending in the 2008 Budget on Wednesday.

With Credit Action estimating the average household debt in the UK to stand at £8,985 (excluding mortgages), the move is an addition to the Church of England's national Matter of Life and Debt campaign. Launched in January 2008, the campaign offers common sense advice and resources so that householders can make sense of the amount of debt they are in, and then seek assistance from a registered debt adviser if necessary.

The Bishop of Ripon and Leeds, Rt Rev John Packer, Chairman of the Church of England's Stewardship Committee, supports the Matter of Life and Debt initiative.

He said: "While many of us will take an interest in the Budget to see what changes the Chancellor introduces, the most important budget for most of us is the one we work out for our own household spending.

"Christianity affirms that we need to take care over our spending. We need to avoid the dangers of debt. We also need to ensure that people do not take advantage of those in debt. This initiative runs alongside our concern about the exploitation of people in debt in our society."

So that householders can work out their own household budget, the Matter of Life and Debt website pages at www.cofe.anglican.org/debt now feature an easy-to-use, interactive, downloadable Excel spreadsheet - which totals up income and spending, and allows householders to make adjustments until they are balancing their budget.

The resource - which can be used in church services or as part of a talk on money and making ends meet - also displays simple-to-follow money-saving tips when users fill in boxes.

One prayer requests: "Lord God, your will is to bring hope and a future to all your people. Trusting in your steadfast love, we ask your guidance as we work out a household budget. Help us to learn to let no debt remain outstanding, except the debt to love one another, through Jesus Christ our Lord. Amen."

Dr John Preston, the Church of England's Resources and Stewardship Officer, and co-author of the Matter of Life and Debt resources, said: "The Budget affects how much we earn, how much tax we pay, and how much we have left to spend, so it is an ideal time to work out a household budget.

"It is right for the Church of England to speak out on the issue of consumer debt, as money, wealth and possessions are mentioned in the Bible more than 2,400 times."

The downloadable Excel file and other useful resources and information can be found on the Matter of Life and Debt pages of the Church of England website at www.cofe.anglican.org/debt.

There are links to specially written prayers for guidance for those working out a household budget, at www.cofe.anglican.org/prayers.