The rich rules over the poor, and the borrower is the slave of the lender. - Proverbs 22:7
What Is Financial Quality of Life?
In 1997 I completed my studies as a certified financial consultant with a very large Financial planning company here in the US. I since have continued my studies, and application both in my life and the lives of others. Financially helping others through strategic planning, life coaching, and in all things - using biblical models.
One of the main lessons that are taught in financial circles, which are all too often overlooked, is the ability create a financial quality of life. Now, please understand our true life - our spiritual life, is in Christ alone, and our financial status is NOT
a measuring stick of our relationship with Jesus.
At the same time, we need to look at the term "financial quality of life" and how it affects you and your family. It may seem simple, but is all too often overlooked.
First, list your debt and all of your other monthly obligations... (Mortgage, rent, car notes, phone bills, food, etc.) Anywhere you SPEND money... Then list out all of your bring home income.
In this example the expenses (all outgoing money) are $2,200 - and the monthly income (bring-home) is $2,600. This is a $400 per month difference.
The $400 difference is the financial quality of life. That $400 would be money that could go into savings, extra retirement funs, or even spent on vacations or nice "toys". Now, $400 is a good spot for some people, yet others may have $1,000 -$2,000 - or even $5,000 or more extra. The key is not how much money you earn, but the difference between what you earn and what you must spend.
Make yourself a financial goal of lowering expenses while at the same time increasing your income. This is personal stewardship.
Easier said than done? Yep. However, we are here to help guide you and lead you through the process. So, begin praying and asking Holy Spirit to show you places where you can lower your expenses.
Just to show I also practice what I preach... Our family was able to change our Cell Phone packages to:
StraightTalk wireless. We have unlimited cell minutes, data, etc. and thus saved about $95 per month.
Purchased a different car - $91 per month savings
Refinanced mortgage - $290 per month
savings
$476.00 without "giving up" anything. Every month. Now, we can save more, donate more, and enjoy more... I only show this as an example so you can see what is available. We are still looking at other areas to cut back... insurance premiums, internet charges, etc.
Are you ready to cut back? Next, we will give some ideas for increasing income. Stewardship is a powerful principle in the Kingdom of
God - and it can be very practical as well.
Praying for you,
Pastor Wayne Sutton
www.TheSecondAdam.com
