Tuesday, August 28, 2012

The Basics of Money Management

Let's talk about the basics of successful money management. Jesus says we have to choose where we put our trust. He says we have to choose between God and money.

God helps us master our money, rather than letting money master us, and He does it through these principles:

* Spend less than you earn. Know where you stand with what you have and where you spend it.

* Develop a budget plan. A good budget has five key considerations:

1. Giving to God. - Begin here. Giving first shows you trust Him, and not money.

2. Savings and Investments. - This helps with short-term surprises and long-term needs.

3. Taxes. - God's Word tells us to pay what we owe.

4. Fixed Expenses. This includes things like mortgage, utilities, cars, etc.

5. Discretionary Spending This includes entertainment, clothes, furniture, etc.

God's ways for basic money management...they work.

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