FINANCIAL MANAGEMENT

in #sc-v5 years ago

The Bible, is a book that holds a large number of teachings of all kinds, which has influenced millions of people in love, family, leadership, are just some of the examples that can be drawn from the biblical passages that has been translated into all languages and that refuses to disappear with the passage of time and technology.

Most people have failed financially at some time in their lives for lack of knowledge, for lack of not having sought the wisdom and financial intelligence of God that is based on the Bible, which until today have had to carry serious consequences such as having finances in bankruptcy.

Let's look at some financial tips based on the bible that are relevant for all kinds of people.

ESTABLISH PRIORITY

Proverbs 24:27 -
Prepare your cultivation tasks first and have your fields ready for sowing; after that, build your house.


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Planting the field should be a higher priority than building the house, since both seem to be necessities of life instead of luxuries. However, if you think about it, the answer to the question is obvious: Your "field" is not just something you need to survive - it's actually a means of survival. If you are a farmer, your crops are your source of sustenance.

What good is a house if you do not have the means to put food on the table, or pay the rent or mortgage?

Make sure you save enough to cover the essentials, what you need to stay alive and able to work - before spending money on comfort. In other words, set aside the money to pay all the bills before spending on new clothes.

MAKE A BUDGET

Luke 14: 28-30 - Suppose one of you wants to build a tower. Do not you sit down first to calculate the cost, to see if you have enough money to finish it? If you lay the foundations and are not able to finish it, everyone who sees it will begin to mock you, saying, "This person started to build and could not finish."


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You know what you need to cover the cost of the needs in the first place, but those costs do not always come immediately, so you need to plan for them or make a budget. Some important expenses, such as the rent payment, only expire once a month. Others, such as home insurance premiums, only come once a year.

Planning ahead and saving for intermittent (but well-known) expenses is a key component of budgeting.

CONTINGENCY PLAN

Genesis 41: 34-36 - Pharaoh should appoint inspectors on the ground to take a fifth of Egypt's harvest during the seven years of abundance. You must collect all the provision of these good years and store the wheat under the pharaoh's hand. This food must be kept in reserve for the country, which will be used during the seven years of famine that will come over Egypt, so that the country can not be ruined by hunger.

It does not matter if you believe that Joseph had a divine gift for the interpretation of dreams, it can not be denied that the advice given by Pharaoh is correct. It always makes sense to save resources in good times for difficult times.

Of course, today's financial experts tend to modify Joseph's advice a bit. Instead of storing cash for seven years, they say they must set aside the value of living expenses of approximately six months in an emergency fund (more if they are self-employed or a fluctuating income).

NO TO DEBT

Proverbs 22: 7 - The rich rule over the poor, and the borrower is a servant of the lender.

Debt is a kind of slavery. Many people prefer to live in debt and never imagine not acquiring the things they need without it.

DIVERSIFY YOUR INVESTMENTS

Ecclesiastes 11: 2 - Invest in seven companies, yes, in eight; you do not know the evil that will come on earth.

This line of Ecclesiastes is a brief clear explanation of why it makes sense to diversify your investments. Almost any type of investment can be a victim of "bad" of some kind, if it is a plague of locusts that ends with a crop of cereals, or a fall of the stock market, which reduces the value of the shares or real estate. So it makes sense to put money in different types of investments so that a single disaster can not cost you everything you have.


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AVOID RISKS WHILE AGING

Ecclesiastes 5: 13-14 - I have seen a great evil under the sun: riches accumulated with the damage of their owners, or wealth lost through some misfortune, so that when they have children there is nothing left to inherit.

In this story, a father loses everything in a bad investment and has nothing to leave his son. This is unfortunate for the son, but in the modern world it could be a disaster for the father too.

As you approach retirement age, you should gradually move your money from high risk investments, such as stocks and have lower risk investments such as bonds and rents that can give you a modest income.

Ultimately following the rules of financial knowledge based on the Bible we will have golden years, years of wisdom, years where we will have where to rest the head, blessed years, prospered and victorious, years in which we will call desirable land. follow the instructions of the sacred book and only there you will find the truth, a truth that will make you truly free, God continue to bless you, until the next.


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I love this proverb @coronadoedgar (Prepare your cultivation tasks first and prepare your fields to sow, after that, build your house). Excellent meditation Thanks for sharing.

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