Managing Money

Wise principles of managing finances are revealed which can lead to increased happiness, less stress and being debt free sooner.

SUMMARY

Whether we have much or little money, managing it is crucial in reducing the financial stresses that can take place in marriage. In Luke 16:2 it says that we need to give an account of our stewardship; in simple terms - where we spend the money.
We need to consider our means when we have dreams. Every principle that God gave us in His word, are there to make us happier.

Tom and Alane while with a mortgage and one full time salary only, have been challenged by a financial advisor to save $25 per pay check. Although difficult, they took the challenge and began to save this amount, which proved very helpful later during a time of need. Evaluate your spending, look at your dreams, and ask the question “Am I living within my means, or find yourself in the position where you have to make more money and feel the pressure. The issue really is not how much money we make, but how we manage what we have.

It would be helpful to add up the known expenses and see what they add up to. Known expenses are not only those that occur every month, such as tithe, mortgage, etc. But also those that occur every six months or so, such as car insurance. This sum should be taken into account every month, and thus be realistic of how much money we really have left after the known expenses (i.e. save every month for the known expenses that occur once or few times a year). Keeping such expenses in mind, we can save monthly for them and thus not be overwhelmed when they come as we are prepared.

Credit cards, if not properly used, can lead into debt and other stresses. Our habits need to change, if they are not proper.

And if even if you have much money, do not forget that we all are stewards and will need to give and account to God. So if you have much money, and are a good steward, you can give more to God’s cause.

Apart from known expenses, we need to take into account other expenses, such as food and house maintenance. Once we subtracted from our income the known expenses, we need to divide the remaining into these other expenses, and determine how much we are going to spend in those areas.

We may also, for example, drive only when is very necessary, buy food in bulk, or that is on special, rather than what we like. Or cook more rather than buy pre-cooked food which is more expensive. Also buy more second hand things rather than new.

We want to challenge you to be accountable as a steward, not only of the pay check, but of everything since God is the giver of them all. Calculate what your needs are, and try to leave within your means, and than work diligently to reduce the debt.