Tips on Money Management
The main reason is that people do not know how to properly manage their money. In order for your money management to be effective you must first have some basic skills in managing your money. For those of us who are Believers, it’s important to implement sounds Biblical practices and teaching in order to be successful stewards of our money. For example, do you ever plan to have so much money by a set date but when the time comes you’re still struggling with your finances?
This is where Christian money management comes in. Proper educational resources will teach you to how to correctly manage your money so that when you budget and plan to save money, you will actually have it. Having proper money management will help prevent debt which will in turn create a much easier and less stressful life. Just remember money can not buy happiness, price action however when you suffer from financial difficulties it can bring stress, tension and misery. Christian money management skills are extremely important. If you establish a relationship with one or more finance to open a bank account where you can see your. And this is in the form of accounts, savings accounts, personal or auto loan, mortgage or business line of credit may be over. To open more than one account, you have a commitment to the institution shows, they show you the dedication.
1. TRACK YOUR EXPENSES!!! – It’s impossible to know how to budget if you don’t even know where your paycheck is going. Everything from candy for the kids to new tires should be documented. Be strict for a short period of time and you will have a much better idea of where to start your budget. Never wonder where your money goes again! Breaking bad spending habits begins with figuring out what triggers them.
2. Have support – Working with a friend or coach who is educated on financial matters, will hold you accountable and cares about your success is paramount to your ability to master your money. No great athlete reaches the goal with out coaches and friends cheering them to the finish. Having someone to help you along the way will give you long term personalized perspective for Christian money management.
3. Trust God! – This sounds simple, but one cannot live in fear and in love at the same time. Fears that are given free rein in our hearts and mind begin to determine our reality. Knowing what God has in store for us and trusting in him are huge pieces to solving our financial puzzle. Don’t be afraid to make money and spend it as God intends for your life.
This is due to the proper budgeting that you learn through increasing your money management skill set. Some individuals find that they have a hard time when it comes to managing money, this is due to putting your wants over your needs. Once you improve your money management skills, you will soon find that when you plan to have money by a certain date whether it be for a bill or a trip, the money will be there! By flipping this process, and finding out what triggers it, you will find that you will not only save money, but you can invest, give to others and be a Godly steward of what you have been given.
Laural Langmeyer is a Christian based financial advisor who has been working with Christian families for over a decade to help create wealth, eliminate debt and structure healthy Biblical foundations for life long financial success.
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Category: Financial Planning
