Posts Tagged ‘money’
Money Management 101
We have been taught that money is a good servant, but a very bad master. I will be sharing this subject code MM 101 to all moms and future moms out there on how do we manage money so that it will work for us and at the same time a good servant to us.
We should practice this 3 RPs…
Right Perspective
In order to manage our money well, we need to have the right, biblical, view of money.
James 1:15 says that “Every good and perfect gift comes from God- which means money is included.
Moses in the book of Deuteronomy says that “He that gives you power to get wealth”.
The formula is: Hard Work + God’s strength = money for me and for my family!
Right Priority
This is the very first thing that I would do upon receiving my 15th and 30th salary. I should pay God first through my tithes- RWe have to demonstrate our faith by paying God His due in order to claim God’s promised help and strength.
Right Procedures
How to properly spend our money? We need to stick to the following procedures:
1. Pay ourselves in the form of savings. Start with a small amount, say 5% of our income and put it in an account. In my case, we have to set aside for our piggy bank and our little savings in our cooperatives. This is our future security or capital.
2. Pay our debts. If we can’t pay them all, we should pay part. Our main goal here is to reduce the amount until we owe nothing.
3. Pay our bills on time. We should not try to incur interest.
4. Plan our expenses so that we can live within our means.
God’s plan is always to bless us in every aspect of our lives especially through our finances. Hope you can get something out from this post.
