A QUESTION TO CONSIDER:
Are you living above your means? Are you cash strapped and in over your head with mounting debt?
The truth is, many are not just in debt, many are completely overwhelmed with debt. Debt keeps many in bondage and causes a lot of stress and much heartache.
But you can do something about your debt. Today you can make a choice to face your debt, to deal with it once and for all, and you can turn your financial affairs around. No matter how bad your finances look you can SET YOURSELF UP FOR A BLESSED AND BRIGHTER TOMORROW.
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PRACTICAL WEALTH PRINCIPLES:
Today, I want to give you a few baby steps that can help you to SET YOURSELF UP FOR A BLESSED AND BRIGHTER TOMORROW…
1.) BUILD UP A CASH RESERVE FUND:
In life we all have unexpected expenses that seem to arise out of the blue. For example: your fridge may stop working, your car may break down, or you may have an unplanned medical expense.
There are going to be times when you will need access to spare cash. By building up a cash reserve you can make it through the financial storms of life without getting deeper into debt.
If you have built up a cash reserve, you will be able to handle the crisis when the emergency arises. You will also have access to funds should an opportunity arise.
It is time to take action. Why not aim to build up at least 1 month’s back up income. Set part of your monthly income aside in a separate savings account to build up a cash reserve fund.
“Take a lesson from the ants … Learn from their ways and become wise! … they work hard all summer, gathering food for the winter.” (Proverbs 6:6-8)
“The wise man saves for the future.” (Proverbs 21:20a)
2.) PUT RISK PROTECTION INSURANCE IN PLACE:
You need to provide protection for your family and yourself in the event of death, disability or sickness.
I would suggest that you take out sufficient life and disability insurance to cover your debts and to provide a sufficient income to protect your loved ones in event of death or disability. Healthcare cover and income protection insurance will also ensure protection in the event of sickness, impairment or loss of income.
You should also make sure that your home, car and valuables are insured. This will ensure that your assets are protected in the event of theft, fire, damage or an accident.
“Anyone who does not provide for their relatives, and especially for their own household, has denied the faith and is worse than an unbeliever.” (1 Timothy 5:8)
“A good man leaves an inheritance for his children’s children, but a sinner’s wealth is stored up for the righteous. (Proverbs 13:22)
3.) SET UP A BUDGET:
List your income and expenses.
Try and get rid of your unnecessary expenses and use the surplus funds to attack your debts.
Jesus said, “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?” (Matthew 14:28)
“… the foolish man spends whatever he gets.” (Proverbs 21:20b)
4.) SQUASH YOUR DEBT
It is time to declare war on your debt. Break the debt cycle and squash it!
By getting rid of debt, you will not only improve your cashflow, but you will also lower your stress levels.
“The rich rule over the poor, and the borrower is slave to the lender.” (Proverbs 22:7)
“Owe nothing to anyone—except love.” (Romans 13:8)
5.) START CREATING WEALTH:
I would strongly suggest that you set specific goals…
- Short-term: Build up 3 to 6 months backup income. (For example: Increase your cash reserve so that you have cash flow for short term expenses and opportunities.)
- Medium-term: Build up savings over time to meet your dreams and goals. (For example: Owning a business, going on holiday, or paying for your children’s tertiary education.)
- Long-term: Invest to build up a nest egg for your later years. (For example: Retirement.)
“Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.” (Ecclesiastes 11:2)
“He who gathers money little by little makes it grow.” (Proverbs 13:11)
SET YOURSELF UP FOR A BRIGHTER TOMORROW
You can do this by…
- Building up a cash reserve fund,
- Setting up a budget,
- Putting risk protection insurance in place,
- Squashing debts,
- Building up wealth.
You will be setting yourself up for a BRIGHT FUTURE.
But, you can also SET YOURSELF UP FOR A BLESSED FUTURE…
Put God first! Be generous and live to please God.
When you put God first and are generous, you will not only set yourself up for a BRIGHT future, but you will set yourself up for a BLESSED future too!
Look at what the Bible says…
“Honor the Lord with your wealth and with the best part of everything you produce. Then he will fill your barns with grain, and your vats will overflow with good wine.” (Proverbs 3:9-10)
Jesus said, “Do not judge, and you will not be judged. Do not condemn, and you will not be condemned. Forgive, and you will be forgiven. Give, and it will be given to you. A good measure, pressed down, shaken together, and running over, will be poured into your lap. For with the measure you use, it will be measured to you.” (Luke 6:37-38)
“The Lord will greatly bless his people. Wherever they plant seed, bountiful crops will spring up.” (Isaiah 32:20)
I pray that the year ahead will get a little brighter. May the year ahead be filled with God’s blessing and favor.
The ATM was the brainchild of a Scottish inventor John Shepherd-Barron. He came up with the idea while he was having a bath. He pitched the idea to Barclays Bank and the machine, once built, was installed in London in 1967.
53 years later we still use ATM machines. I wonder if this will still be the case in 10 years from now…
It is amazing what ideas we may come up with as we relax and let our creativity flow. Why not take some time out to be creative? Maybe you will come up with the next small idea that can have a big positive impact on the future.
Dare to dream. Aim high. I pray that God gives you an idea that can be a blessing to your community and maybe even the world!
POWER QUOTE OF THE WEEK:
“Never spend your money before you have it.” – Thomas Jefferson
WHAT DOES GOD HAVE TO SAY:
It is so easy to get despondent when looking at the crazy times in which we live. We are living in uncertain times. Trying to get through these times alone is stressful and tough. But the Good News is that God wants to walk the journey with you.
God has a good plan for you…
“‘For I know the plans I have for you,’ declares the Lord, ‘plans to prosper you and not to harm you, plans to give you hope and a future.'” (Jeremiah 29:11)
God invites you to bring your burdens to Him…
“Then Jesus said, ‘Come to me, all of you who are weary and carry heavy burdens, and I will give you rest. Take my yoke upon you. Let me teach you because I am humble and gentle at heart, and you will find rest for your souls. For my yoke is easy to bear, and the burden I give you is light.’” (Matthew 11:28–30)
Set your sights on God. You can live a fruitful and blessed life, despite the chaos.
“Blessed is the one who does not walk in step with the wicked or stand in the way that sinners take or sit in the company of mockers, but whose delight is in the law of the Lord, and who meditates on his law day and night. That person is like a tree planted by streams of water, which yields its fruit in season and whose leaf does not wither – whatever they do prospers.” (Psalm 1:1-3)
If you are not in a relationship with God, please invite Jesus Christ into your life to be your Lord and Savior. We were cut off from God due to our sin, but Jesus paid the full price on the cross so that we can be reconnected to God. God loves you so much that He made a way for you to become part of his family. He wants to share forever with you.
“Yet to all who did receive him, to those who believed in his name (Jesus), he gave the right to become children of God” (John 1:12)
You can start or restart your walk with God, as His beloved child. What are you waiting for?
If you want to start or restart your walk with God, click here to pray a simple prayer we have set up for you.
Father, today I put my life in your hands and I thank you Jesus for making a way for me. Thank you that you are with me and that you will see me through. I put my hope in you and ask for your help. Lord please give me wisdom and help me to put the right steps in place so that I can set myself up for a brighter tomorrow. And Lord please pour out your abundant blessing on my life. I ask these things in Jesus’ name. Amen.
May the year ahead be blessed, fruitful and full of God’s abundant favor.
What stood out to you the most? Let’s talk about it in the comments below.
God bless you.
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