Proverbs 24:27 (AMPC) “[Put first things first.] Prepare your work outside and get it ready for yourself in the field; and afterward build your house and establish a home.”
Even though God has promised us prosperity, He encourages us through His word to become prosperous through financial planning. As Christians, we must have a financial plan throughout our lives and reevaluate it after every major milestone like marriage, childbirth, starting a new job e.t.c. A financial plan is a tool that tracks your financial progress and predicts your future.
Benjamin Franklin, one of the founding fathers of America once said, “If you fail to plan, you plan to fail.” Therefore, having a financial plan is taking a gradual approach to meeting one’s life goal. It serves as a guide that helps you control your income, expenses and investments so that you can manage your money and achieve your goals. Here are three things we can do when planning our financial future:
1. Prepare a budget. A budget is another planning tool we all need. A good budget helps us to match income against expenses. It brings to our clear view the things which are necessities, as opposed to luxuries or things we desire that can be delayed or foregone.
“For which of you, intending to build a tower, does not sit down first and count the cost, whether he has enough to finish it” Luke 14:28 (NKJV)
Budgeting is giving a vision to your money. Jesus in the above mentioned scripture admonished us to sit down and make a budget so that we can figure out the expenses we need to cover and know how much money is required for all expenses. When we do, our diligent plans will certainly yield profit. (Proverbs 21:5)
2. Learn to diversify your investments. Investment is good but we must learnt to diversify our investments because nearly any type of investment can fall victim to “evil” of some sort. So, it makes sense to put money into many different types of investments so that a single disaster can’t cost you everything you have.The Bible says in
Ecclesiastes 11:2 (NIV), “Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.”
3. Avoid unnecessary debt.
“The rich rule over the poor, and the borrower is slave to the lender.” (Proverbs 22:7, NIV).
To make progress in life, you must avoid becoming indebted because it makes you deal from a position of weakness in financial issues. It must be your life goal to live debt free, since no one can become financially prosperous by accumulating debt.
Precious one, to prosper financially, you must plan and work towards it deliberately. Therefore, ensure you stay debt free, diversify your investments and always have a budget that will guide you.
Prayer: Heavenly Father, give me insight in planning my financial future, and grant me the grace to execute it judiciously, in Jesus’ name. Amen.
Scriptural References: Genesis 41: 33-36, Proverbs 6:6-9, Proverbs 3:5-6
