PLAN YOUR SPENDING
What we want to talk about is the concept of planning. I remember during our vacation, my mom and dad did nt know where we were going? Until we got into the high way and turn to one side of our relatives, they turn right they go to another side of our relatives. So we dont want to plan our finances that way.
However, I am sure that many of you feel like you are in trouble or its too late, or I have made too many mistakes or I am totally confused or I don't even know where to start. To begin, let's take a look at Financial Planning just as what is the definition,
Timeless Principles for Financial Success
In a testimony before the Senate, a powerful revelation was shared - four basic principles that transcend time and income levels:
Spend Less than You Earn: Living within our means ensures financial stability and growth.
Avoid the Use of Debt: Steer clear of the burden of debt, for it can shackle us to financial constraints.
Build an Emergency Fund: Anticipate the unexpected by setting aside funds for rainy days.
Set Long-Term Goals: Define your dreams and aspirations, charting a course towards a prosperous future.
Spend Less than you earn
"Dishonest money dwindles away but he who gathers money little by little makes it grow"
Proverbs 13:11
The reality is I need to live within my income. What's the lifestyle that I can adopt, well it depends upon the income that I have.
Avoid the use of Debt
"The rich rule over the poor and the borrower is servant to the leader"
Proverbs 22:7
Anybody whoever borrowed money understands that once I borrowed money as easy it is to borrow how difficult it is to pay back. Because I now a slave to the lender. I have not to repay what I have committed to repay. As a matter of fact, the lender always has the first call of any of the income, or any of the resources that I have.
Build an Emergency Fund
"Go to the ant, you sluggard! Consider her ways and be wise, which have no captain, overseer or rules, provides her supplies in the summer gathers her food in the harvest".
Proverbs 6:6-8
In other words, prepare for the unknown, prepare for the emergencies, have have some money on hand so that when the unexpected occur I've got something there. So if I am living within my income, if I am avoiding the use of debt, if I am building liquidity then
Set Long Term Goal
I press on towards the goal for the prize of the upward call of God in Christ Jesus.
Philippians 3:14
So I can do four things right now, wherever I am financially. I can start by living within my income, start by getting out of debt, I can set by building emergency fund, and I can set long term goals. When I have conceptualize planning I believe there are one 5 things you can do with money.
Empowering Your Financial Journey
No matter where you stand financially, you can take charge of your future by embracing these timeless principles. Live within your means, break free from debt's chains, create a safety net for uncertainties, and set your sights on your dreams.
As you embark on your financial planning journey, remember that it's never too late to start. With unwavering principles and thoughtful planning, you can achieve the financial freedom you deserve. Embrace these foundational steps, and let your journey towards a brighter, more secure future begin. You have the power to shape your financial destiny, one step at a time.
Jack speaks at conferences across the Philippines on topics such as family finances, and personal and professional growth.
You can contact Jack Marbida through his social media accounts or email him at papajackph@gmail.com.
Cheers!
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