Today we are going to look at 5 STEPS TO FIX YOUR FINANCES.
1. Put God 1st with your money
- Give God your best. Give Him your first 10%.
- Putting God first should form the backbone of your approach to managing your money.
- I am not wanting to get legalistic, but honoring God with your finances is important. When you give to God, he protects and provides, so put Him at the top of your budget.
- Honor God, not just with your lips, but with your money and He will take care of you.
“Will a man rob God? Yet you rob me. “But you ask, ‘How are we robbing you?’ “In tithes and offerings. You are under a curse – your whole nation – because you are robbing me. Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,” says the Lord Almighty, “and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it. I will prevent pests from devouring your crops, and the vines in your fields will not drop their fruit before it is ripe,” says the Lord Almighty. ”Then all the nations will call you blessed, for yours will be a delightful land,” says the Lord Almighty.” (Malachi 3:8-18)
“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… “But seek first his kingdom and his righteousness, and all these things will be given to you as well.” (Matthew 6:33)
2. Squash your debt
- Do your best to limit your exposure to debt.
- Get determined to not get into debt.
- Avoid the debt trap. Rather save up money to pay cash for the item.
- It is important to get into the habit of saving instead of a habit of debt.
- Don’t be a slave to debt.
“The wise are cautious and avoid danger, fools plunge ahead” (Proverbs 14:15)
“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)
3. It is important to budget
- Keep track of your income and where it comes from.
- Keep track of your spending and where it goes.
- Make sure that you spend less than you earn.
“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? For if you lay the foundation and are not able to finish it, everyone who sees it will ridicule you, saying, ‘This person began to build and wasn’t able to finish.” (Matthew 14:28)
4. You need a plan
- You need to know what your objectives are and how you intend to reach them.
- Dare to dream! Aim high! Set up a plan to meet your goals and achieve your dreams over the short, medium, and long term.
“Good planning and hard work lead to prosperity, but hasty shortcuts lead to poverty.” (Proverbs 21:5)
You do not need to do it alone. God wants to walk the journey with you.
“Commit everything you do to the Lord. Trust him, and he will help you.” (Psalm 37:4)
5. Get into the habit of building wealth
Commit to building a wealth portfolio by allocating funds to…
- Savings – where you have cash flow reserves available for your short-term needs and emergencies.
- Investments – where you can build up growth investments over time to fund your retirement and future dreams and objectives.
When you make building a Wealth Portfolio a priority, and let it form part of your regular budget, you won’t even miss the amount you put aside each month, and you will be surprised how quickly your wealth portfolio grows!
You might think you don’t have ‘spare’ cash to save – but just go back to your budget and make saving and investing a priority. Maybe you need to cut back on some other expenses in order to free up surplus cash so that you can start saving. Build your savings into your budget.
If you are looking to start saving and investing, I would suggest that you speak to a financial planner. A Financial Planner should be able to help you construct a plan so that you build up your investments and achieve your goals and dreams.
“The wise man saves for the future but the foolish man spends whatever he gets.” (Proverbs 21:10)
“He who gathers money little by little makes it grow.” (Proverbs 13:11)
So, in summary…
- Put God 1st
- Squash your debt
- Build a Wealth Portfolio
“The blessings of the Lord make one rich, and he adds no sorrow with it.” (Proverbs 10:22)
God bless you.
Kind regards Clinton.
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