Sunday, September 22, 2024

MoneyWalk 267 Balance Your Accounts

This program will help you undo financial bondage. 

You cannot build wealth through irresponsible money management. A lot of money could come into your hands through inheritance or through using gifts and skills God has given you. Yet, you’ll foolishly squander it, and experience lack in the future when you fail to employ good financial stewardship.

Tithing and abundant giving to support gospel ministry that builds the Lord’s kingdom in the hearts of men is the first step to building true wealth. Knowing the state of your income versus expenses is second. Spending less than your net income is third. Saving an adequate emergency fund is fourth. Eliminating debt is fifth. Eliminating co-signing is sixth. Making continuous investments on a monthly basis is seventh. And, diversifying assets is eighth.

Balancing your checking, savings, investment, and credit accounts each month will help you adhere to the above money management principles so natural and supernatural abundance can accrue to you. Whereas, failing to organize your finances and failing to immediately record additions and subtractions to income and expenditures will lead to over-spending because you’ll inevitably think you have more disposable income and assets than you really have to spend.

Start by balancing your checkbook for the past month at the beginning of the new month by subtracting every check written and all ATM withdrawals from your checkbook balance. Never throw away withdrawal slips until you've balanced your checkbook for the month. Use the balancing method on the back of your monthly statement. If you can't understand the directions, ask a friend or a customer service representative at your financial institution to help you. This process takes about two hours each month but will get easier and less time consuming the more you perform the task and eliminate debt to get rid of creditors.

Now, balance your other accounts to ensure (a) your monthly expenditures aren’t exceeding your income, (b) you’re not being charged for items you did not purchase, and (c) your accounts show accurate additions and withdrawals for the month. Contact your financial institutions or creditors to straighten out discrepancies. If you’re willing and obedient, you’ll produce continual harvests to enjoy. Failing to be a good steward will subject you to financial bondage and dire consequences.

Proverbs 27:23-27, Isaiah 55:10-11, Luke 14:28-30, and 2Corinthians 8:12

Please pray for this ministry and email questions to parlor@ameritech.net and share the links below with others who need guidance. May the LORD bless you richly as you follow His plan!

Share https://kminfo.org/ministries/financial-freedom weekly with family and friends so these bondage-breaking articles and other financial information can help them gain helpful insight! @everyone

The book at the link below provides principles and practical steps that help you use the Power to Get Wealth. By 1992, we had $135,000 of debt and a negative $35,000 net worth. Financial bondage and turmoil led me to seek principles and a process for employing good stewardship. As a result, we became constructively debt-free in 1998, mortgage free January 2004, millionaires in 2012, multi-millionaires shortly thereafter, and retired in 2018 in my mid-fifties from public servant jobs while giving abundantly to fund the gospel of our LORD Jesus Christ. The same power is available to you!

https://www.amazon.com/Power-Get-Wealth-Randy-Parlor-ebook/dp/B08QCH5MVH/ref=sr_1_2?keywords=Randy+Parlor&qid=1638336718&s=books&sr=1-2

You can find books authored by Randy and Karen Parlor at www.Amazon.com.

You can also connect with Randy Parlor on Facebook, Twitter, Linkedin, Instagram, Google Blogger, WordPress, Pinterest, TikTok, Tumbler, and You Tube.

 

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