Monday, August 31, 2009

MoneyWalk 26: Develop a budget

This program will help you undo financial bondage.

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 maintain good financial health. A negative financial condition should make you turn from the money management principles you've used and turn to God's principles for managing money, which always have your best interest in mind and result in blessings for you and other people.

If your situation is going to positively change, you must develop a monthly budget that lists all your bills and 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 and expenses is vital for bettering your financial health, because it lets you know what you can afford to purchase now and in the future. It shows how much money must remain in your account to cover deficits that will arise during future months and it shows how much money remains each month.

The remaining money should be used to give abundantly to the spread of the gospel, build at least a six-month emergency fund, and accumulate a size-able investment nest egg. It helps you care properly for yourself, your family, support godly ministry, and build wealth to serve your children.

Please pray for this ministry and email any questions. May God 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!!!

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