Good money managers organize their lives to know when bills are due and how much is owed and they pay their bills on time. They also record checking deposits and withdrawals immediately and balance their checkbooks every month.
In order to have a healthy financial life, you must organize your life to know the state of your income and expenses and the quickest way to do this is to keep your checkbook balanced each month. In addition, you must develop a budget (an income spending/saving plan) and make sure that you always have more than enough income each month to cover your expenses. This means you should not purchase any products or services using credit. If you don't have cash on hand right now to buy it, then you should forego the purchase and allow God to supernaturally bring it to you free of charge (if you really need it) or in a way that will not lead to possible financial bondage if your income projections don't flesh out.
The first entry in your monthly budget should be to set aside at least ten percent of your income (the tithe) and give it to your local church where you receive your spiritual food, fellowship, and discipleship. If you don't have a church, you need to find a bible believing church and allow the Holy Spirit to plant you there. When you forsake the regular assembly of believers you cannot be truly fulfilled and prosperous no matter how much money you make and assets you have. Your God-given purposes is being a part of the body of Christ and thus interacting with others who are also in the body and in making ministry service (evangelism and discipleship of others) the priority in your life that guides every other endeavor you pursue (career, friendships, recreation, education, business, etc.)
Next, your month to month budget and checkbook should display that you firmly resolve not to spend more than your gross income minus taxes and your tithe. Then, you must resolve to work extra for a short time if necessary to eliminate current debts, create no further debt, and put away an emergency fund of $1,000 first and then ratchet that amount to at least $10,000 to help you avoid situations where you put charges on credit accounts to cover emergency situations. This can be done if you plan to do it and stick with your plan while being frugal while you work to eliminate current debt.
Finally, after you have eliminated all your debt and built your emergency fund you should begin to take everything over the $10,000 level and put it in no-load investments in your 401k type plan, Roth IRA, or investment account with a major brokerage such as Vanguard, Fidelity, etc. It is best to put this on automatic pilot by having the contribution taken directly out of your paycheck or savings account each month so that you don't have to think about the investment, write a check, and possibly be tempted to spend the money on something else that will be forgotten or unused shortly after it is purchased.
Once you've followed the above described financial path, you'll begin to accumulate assets big time and the power of compounding interest over the next 10, 20, and 30 years will expand your investments exponentially. In financial terms, you will begin to live the biblical statement, “go forth and multiply!” The growth and flow of income and assets at this point will also allow you to do the same in areas traditionally defined as “church ministry” like giving to your local church, funding missions in your community and around the world, funding ministries that you are directly and physically involved in, helping the poor, widows, and oppressed, etc.
This wealth building scenario will not likely happen for you if you are not committed to living out God's debt-free plan. You must forsake the temptation to create monthly bills that add up to an amount that is greater than 50% of your gross income. Setting your spending bar at this level will save you more financial trouble than you can imagine and allow you to carry out your wealth building and abundant giving financial plan. Again, allow God to bless you with products and services you need that you can't pay cash for right now. If God doesn't bless you with them, then you don't really need them. Continue to have patience with God's financial plan and you'll soon find that you can get not only what you need but many of your desires because you have delighted yourself in Him spiritually and financially. When your life is balanced in this way, abundant blessings cannot help but be poured out on you in due time.
Please pray for this ministry and email any questions. May God bless you richly as you follow His plan!!!
