Financial Wisdom

And the Lord said, “Who then is that faithful and wise steward”  Luke 12:42

A few financial health steps for you, I trust it helps:

Step one: Budget well
Document your exact income and expenses.  Put your expenses in priority order, the important ones first – tithe, housing, food.  Be tough when defining what your needs are compared to your desires. If in debt and your debt repayments take more than 20% of your net monthly income, take serious steps to cut back.

Step two: Be disciplined
To live to your budget and live inside your income.

Step three: Watch your daily spending
If it helps take cash out at the start of each week (give your credit cards to family or friends, or cut them up if they cause you problems). Pay all your utility bills by direct debit. This forces a routine.

Step four:  Change your reality
There are 3 things you can do to change your reality:

1. look at other ways to increase your income eg. a different job, a second job, move investments to a higher rate of interest, think long term investments – buying your own house/2nd house, pension or other high yield investment products – and start young

2. look at other ways to reduce expenses eg. change your utility suppliers (gas, electricity, phone bills, insurances), change to a cheaper credit card/loan/bank overdraft, cut up store cards with high interest, downsize your accommodation, change your mortgage (speak to a financial adviser about remortgaging options)

3. trust God. Good stewardship which includes a commitment to giving will keep open the flow of God in your financial world.