Very few people can keep an accurate stewardship plan in their heads making it impossible to use income in the best possible manner. Therefore, you need to keep an updated 3 to 6-month plan / budget on paper or computer. This projection of expected income and expenses for the household over these months lets you know if you currently have enough money to pay all bills, when certain bills cannot be paid at some point in the future, and if there is enough disposable income after bills are paid to save and invest a reasonable portion in order to have compound interest and exponential growth work to bring you far greater increase over the course of your future.
Developing and implementing a stewardship plan makes you a better steward of the LORD’s resources entrusted to you. Its purpose is to properly manage your income by giving, debt elimination, saving, investing, and reasonable spending for your level of income. Immediate benefits are learning to better understand your present financial condition, better planning for periods when expenses exceed income, identification of wasteful spending, identification of the need to reduce expenses or earn additional income, better financial decision making to achieve short and long-term goals, and obtaining the necessary knowledge, understanding, wisdom, discernment, and revelation to better your financial situation.
Long-term benefits are disbursement of money in proper, god-pleasing priority, abundant giving, debt elimination, asset growth through compound saving and investing, an ability to handle emergencies without taking on debt to do so, a life filled with peace, joy, and prosperity, and the ability to give to other people including sharing financial principles that bless their lives and families.
Those who fail to use the planning / budgetary principle spoken of in the Word most often find they are the ones who outgo exceeds their income, making the upkeep their downfall. The instruction of the LORD is that a wise person accumulate treasures while foolish person spends all that he gets. This plunges the foolish and family dependent upon him / her headlong into decay, destruction, and a financial death spiral from which they are not relieved until they begin to faithfully adhere to godly financial management.
Please pray for this ministry and email me with any questions. May the LORD bless you richly as you follow His plan!
Proverbs 21:20, 27:23-27, Habakkuk 2:2-4, Luke 14:28-30, 1Timothy 5:7-8
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