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 many peoples’ experiences have proven that ill will be foolishly spent and squandered and leave you lacking if you do not handle it according to practical money management principles.
Giving to support church 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. Eliminating debt is fourth. Eliminating co-signing is fifth. Saving to cover emergency and purchase desired items is sixth. Making continuous monthly investments is seventh. And, diversification is eighth.
Balancing your checking, savings, investment, and credit accounts each month will help you adhere to the above money management principles so that natural and supernatural abundance can accrue to you. Whereas, failing to organize your finances, immediately record additions and subtractions to income and expenditures in your accounts will lead to over-spending because you’ll inevitably think you have more disposable income than you really have to spend.
Start by balancing your checkbook for the last month at the beginning of each 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 after the end of each 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 use disposable income to eliminate debt and creditors from your financial picture.
Now you can use the same type of process to balance your other accounts to ensure that your monthly expenses are not exceeding your income, you’re not being charged for items you did not purchase, your accounts shows accurate additions and withdrawals for the month, and so you can contact your bank or any creditor to straighten out discrepancies. If you are willing and obedient in you will get to enjoy the best of the harvest the land produces. Failing to be a good steward will subject you to future financial harm.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
Proverbs 27:23-27, Isaiah 55:10-11, Luke 14:28-30, and 2Corinthians 8:12
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