Have you ever created a budget?
Are you stressed out come pay-day because of all the bills you have to pay?
Which one are you a spend thrift, a hoarder, a philanthropist or a balanced money manager who can give to those in need?
Ecclesiastes 5:13-14(NASB)13 There is a grievous evil which I have seen under the sun: riches being [a]hoarded by their owner to his hurt. 14 When those riches were lost through [b]a bad investment and he had fathered a son, then there was nothing [c]to support him.
Hey musers 🙂 Today I’m thinking about financial management. It’s wife-able Wednesday and I try to cycle through a practical aspect of marriage preparation every other week. This week it’s all about the money. Have you ever asked yourself why the piggy bank was a pig? I mean a pig seems like a set up for some messy finances and muddy money. Actually, piggy banks became popular as a vessel for the storage of personal finances back in the 19th century. Before this, they would use household earthen pots for safe keeping. Precious metals were expensive at the time so these pots were made of an economical orange-colored clay called pygg; actually having nothing to do with the animal.
So it’s quite possible that when somebody went down the potter and asked “Gooday sir, I’d like a pygg pot please.” his interpretation may have been to produce a pig shaped pot. Today our savings capabilities are much more sophisticated and it’s quite easy to be overwhelmed by all the different types of accounts. Savings, credit, retirement/annuity, fixed savings, endowment, investment or mutual funds, stocks and bonds. I find it tiresome. But as a good steward, we must put measures in place to make better use of the money we accrue. Money management is something you are going to need to think about as an individual but even more so in a marriage not to mention if children are on the horizon.
So what is financial management and what are the motives for doing it?
If I were to think of myself as a business or even my future union as such then I could use this definition “Strategic financial management refers to the specific planning of the usage and management of a company’s financial resources to attain its objectives as a business concern and return maximum value to shareholders”. (Investopedia ) Thinking broader and less selfishly the stakeholders wouldn’t just be me and my family but farther reaching and extending outside the home graciously as far as it would allow. When you see natural disasters all over the world happening and major relief efforts in the after math of Hurricane Irma a good financial management plan would allow you to be able to give more to help others who have lost everything.
- company’s business objectives,
- To seek first the kingdom of God and His righteousness and see everything else added unto you. This does not imply the neglect of responsibility to steward finances for the honour and glory of God.
- To give. If we see others wanting and are capable of helping with what we have we must help. My objective should be to offer up my finances as a sacrifice to God in a spirit of worship to use as He instructs. Do more with money and to think of others more highly than self. Give freely and become more wealthy; be stingy and lose everything. [Proverbs 11:24]
To be content: Hebrews 13:5New American Standard Bible (NASB)5 Make sure that your character is free from the love of money, being content with what you have; for He, Himself has said, “I will never desert you, nor will I ever forsake you,”
- identifying and quantifying its resources,
- Let my treasure and Hope be fixed on God then do my accounting.
- Understanding what true “riches” are and the emptiness of earthly gain but seeing everything as a blessing from God.
Matthew 6:21(NASB)21 for where your treasure is, there your heart will be also.
- devising a plan for utilizing finances and other resources to achieve its goals,
- 17 Instruct those who are rich in this present world not to be conceited or to fix their hope on the uncertainty of riches, but on God, who richly supplies us with all things to enjoy. 18 Instruct them to do good, to be rich in good works, to be generous and ready to share, 19 storing up for themselves the treasure of a good foundation for the future, so that they may take hold of that which is life indeed.1 Timothy 6:17-19(NASB)
- Make and follow a budget. (For info on the budget template I use (check out this link Vertex42)
- Find ways to set up your finances so that you can afford to give more, maybe cut-out eating out for lunch or buy fewer clothes whatever will work for you.
- If credit must be sort make every effort to pay it off quickly. The borrower is slave to the lender
Romans 13:8 (NASB)8 Owe nothing to anyone except to love one another; for he who loves [a]his neighbor has fulfilled the law.
- establishing procedures for collecting and analyzing data, making financial decisions, and tracking and analyzing variance between budgeted and actual results to identify problems and take appropriate corrective actions.
- Do periodic assessments of actual spending habits
- Develop a five-year plan for your life this will help you get things in place for where you would like to be especially in areas you most need to improve.
- Seek financial advice from trusted sources: parents, professional financial advisors or online facilities.
This discussion came up earlier this week and I asked myself am I in a place where I can truly say I am living simply? If my creature comforts were stripped from me would I still praise God and say it is well with me, I am blessed? Am I any less “blessed” if I can’t afford to wine and dine? I believe we should work at whatever we do with all of our might and with gladness but also understand that all glory belongs to God and that one day all of this wealth will vanish like the wind. True and eternal treasure is in dwelling in the house of the Lord forever so please if you’re reading I urge you to go find out for yourself what that is. Seek God’s truth about your finances. Seek true wealth above not here. But be wise!
Ecclesiastes 5:10(NASB) The Folly of Riches He who loves money will not be satisfied with money, nor he who loves abundance with its income. This too is [a]vanity(emptiness).
James 5:5(ESV) You have lived on the earth in luxury and in self-indulgence. You have fattened your hearts in a day of slaughter.
Resources: Biblegateway.com, vertex42.com, canva, giphy.com