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Friday, June 15, 2018

Simple Principles to Manage My Money Well

In review of Proverbs 21:20 it says, “Wise people live in wealth and luxury, but stupid people spend their money as fast as they get it” (GNT).

Today's verse is from Proverbs 21:20. It says the wise have wealth and luxury, but fools spend whatever they get.

This proverb is speaking about saving for the future. Easy credit causes many people (including myself at one time) to live on the edge of bankruptcy. The desire to keep up appearance, to not want to deal with it and to accumulate more pushes them to spend every penny they earn, and they stretch their credit to the limit. But anyone who spends all he has is spending more than he can afford. A wise person will set money aside for hard times. I believe that God approves of foresight and restraint. As such, I need to keep an eye on and examine my lifestyle to see whether my spending is God pleasing or merely self-pleasing.

The Bible makes it clear that it’s just plain foolishness not to manage your money well. And foolishness never ends well. Proverbs 21:20 says, “Wise people live in wealth and luxury, but stupid people spend their money as fast as they get it” (GNT).

Our culture tries to convince us to buy now and pay later. As a result the average American puts $1,300 on his credit card for every $1,000 he makes. That leads straight to debt, and God calls that stupid!

No one just drifts into debt or out of it. Deciding to build your financial future on the commitment to be responsible starts with intentionality. After you’ve made that important commitment, you need a plan to get there.

Through various teaching I have learned the 10-10-80 principle. It’s a great model to become intentional about my financial decisions.

. Give 10 percent back to God. God blesses whatever I put him first in.
. Keep 10 percent for myself (savings.) Commit to saving money every time you make money.
. Live on 80 percent. Only fools spend everything they get.

Like it or not, God will use money to test me. He is testing my responsibility. When he looks at my financial decisions in Heaven, God’s going to say, “Was I responsible with what He gave me on Earth?”

So how will you answer that question?

Bottom Line:
It’s foolish to spend upto and beyond your means. Be wise and save for the unknown.

What this means to me:
It’s unwise to spend everything I get as fast as I can, it is better for me think about it and not spend everything, set aside some for the future.

In summary, I need to save for the future or the unknown. If I spend all I get, then I'm spending more than I can afford. Examine my spending and lifestyle, is it God pleasing or just merely self-pleasing. Use the 10/10/80 principle. God will use money to test me and my responsibility.

This morning Father I thank you for your provision and the money you have entrusted me with. Father I do want to make wise decisions on how I use what you have given me. I need to examine my spending and adjust to follow the 10/10/80 principle.  Father I also pray for your continued guidance in handling and organizing the work task I have for myself and my team. Help me to prioritize correctly and communicate to those who work with me to accomplish them. Help me to respond rightly to those around me today. These things I pray in your Son Jesus name, amen!