Diligence in mapping out your financial future month-to-month and year-to-year and writing it down on paper is what it takes to repair damaged finances and/or maintain good financial health. A negative financial condition should make you turn from the money management principles you've used up to this point in time and turn to God's principles for managing money because He always has your best interest in mind. He wants to bless you and use you to bless many other people.
If your situation is going to positively change, you must develop a monthly budget that lists your tithes & offerings and all your bills and then subtracts them from your net monthly income. Such budgeting shows, after all other bills are paid, what you have left to spend on personal items, savings, and investments. It should be calculated for each month for an extended period of times like six to twelve months.
This short-term planning of anticipated income, giving, and expenses is vital for bettering your financial health, because it gives you a good estimate of the amount of income you are able to save and invest. This exercise also shows how much money must remain in your account to cover deficits that would otherwise show up in future months and it shows how much discretionary income remains each month so you know the amount you can reasonably use to make purchases during current and future months.
If your budget shows you have a deficit going forward, then you need to find more income producing work that will allow your budget to show a surplus each month. This can be done via asking for raises and promotions at your primary job, looking for better paying work, taking on secondary jobs, or by engaging no cost low cost entrepreneurial efforts. Surplus money identified by your budget should be used to progressively (1) build a reasonable emergency fund, (2) eliminate debts, (3) save and invest at least 10% of your monthly gross income, and (4) give more abundantly.
The planning / budgeting process helps you properly care for yourself, your family, and Church ministry. It also helps build wealth from which you can generate more than adequate monthly income for the time in life when you may desire to retire or have to retire due to unforeseen circumstances.
Please pray for this ministry, email me with any questions, and contact me to speak at your business or ministry conference or workshop. May the LORD bless you richly as you follow His plan!
Proverbs 27:23-27, Habakkuk 2:2-4, Luke 14:28-30, Philippians 4:11-20
Please forward these bondage-breaking articles to other people who can use helpful insight!
You can find books authored by Randy Parlor and Karen Parlor at
https://www.amazon.com/s?k=Randy+Parlor&i=stripbooks&dc&qid=1573343045&ref=sr_nr_i_1
https://www.amazon.com/s?k=Karen+Parlor&i=stripbooks&ref=nb_sb_noss
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