MoneyWalk 67: Your checkbook needs balancing every month

This program will help you undo financial bondage.

It is vital to your financial health, at the specific moment of each transaction, to subtract from your checkbook balance all ATM withdrawals, EFT withdrawals, debit card withdrawals, and checks written. Never ever throw away withdrawal, deposit, and check slips / receipts until you've balanced your checkbook for the month in which they occurred.

Every banking institution has an easy to use balancing method that it can provide you. If you feel you cannot understand the directions, make an appointment so a bank / credit union representative can show you how to use its suggested balancing method. Alternately, you could sit down with a friend who is used to balancing his / her checkbook so he / she can show you how it’s done.

Always balance the last month for each checking account at the beginning of the new month immediately after you receive your monthly statement from the financial institution or go on-line to obtain it. This process takes less than an hour each month and gets much easier as you build and maintain the checkbook balancing habit.

Carry your checkbook only when you're purchasing products and services planned in advance and agreed on by both husband and wife, otherwise wasteful spending will occur. Singles also should not get used to carrying their checkbook with them all the time. In addition, everyone should stay away from the use of debit cards for unplanned purchases. If you need help developing good financial and planned purchasing habits you can select a trustworthy accountability partner who is a good steward of the money that God has entrusted to him / her.

You can help yourself become a good money manager by watching this person’s example, understanding what he / she does that is founded upon biblical instruction, following examples in those areas, refusing to follow any example that is not in line with biblical instruction, asking your accountability partner a variety of questions over time that will help you manage better, and asking him / her to help by pointing out when he / she sees you engaging money management habits that are not fruitful and that are destructive.

Balancing your checkbook is a great way to know the true state of your finances so you can make sure that your monthly expenses do not exceed your monthly income. It is very difficult to accumulate wealth to support the proclamation of the gospel and ministry to which you are called when you don't know and keep track of the state of your flocks and herds.

Please email any questions and pray for this ministry. May God bless you richly as you follow His plan!!!

Proverbs 27:23-24, Isaiah 55:10-11, Luke 14:28-32, 2Corinthians 9:10

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