Sound Money Practices
The balancing act of money can be difficult as it involves producing, accumulating and more importantly keeping enough money to live the life of our choosing.
As with both religion and society there are laws and rules to live by, so it is with finance. Although it is simple to learn about the rules, it is much more difficult to live within them.
Because, we are by definition animals our struggles are physical , mental and spiritual and this is our greatest balancing act.
There are 7 principles required in becoming financially fit.
1. Pay yourself first and save what you pay yourself.
2. Money is a gift. This means you have a Stewardship. You are to use your money for something that matters, for your family and beyond.
3. Live within your means. Always. No exceptions. Period. Follow a good budget. Take a small allowance each month for discretionary spending.
4. Stop getting financial advice from broke people; get it only from those whose finances you want to emulate.
5. Consistently budget and save for unexpected expenses.
6. Pay 10% of your income to tithing. Give even if you are broke. Giving puts you in a mindset of abundance and puts any financial worries in their proper perspective, it should not be limited to just tithing.
7. Using your Time, Money and Talents to genuinely help others naturally increases your happiness. Seeking money for money’s may or may not influence your happiness, but seeking money in order to fulfill your Stewardship and serve and bless others automatically increases it.
Just as it is simple to understand Religious, Societal or Financial laws and rules in theory. It is much more difficult to implement and follow these laws in practice. To have success in any practice it requires delaying self gratification, committing to hard work, discipline and faith as well as spiritual and mental growth!