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Budgeting

EDITOR IN CHIEF

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Practicing Stewardship and Budgeting

  Each year, the cost of living goes up, prices of basic commodities rise, and stretching your monthly income often seems harder. Not to mention those unseen, unavoidable expenses like health emergencies, car maintenance, home repairs, your child’s school project, and the list goes on. As they say, budgeting is the single most important part of financial management and good financial stewardship. The Investopedia website gives a very accurate definition of budgeting, “It's making sure that you're spending less than…

Related: How to regain control of your cash

EDITOR IN CHIEF

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Control cash

Good financial management necessitates that you get control over your spending. There is no lack of things to distract us and to spend our money on! I recommend that you become a “master” of your spending rather than its servant, in order to: get your finances in good shape; and use your resources to advance God’s Kingdom. The achievement of the majority of your financial goals will depend on your ability to save, and therefore, your ability to control your…

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EDITOR IN CHIEF

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No emergency fund

Expect the Unexpected The one thing you can guarantee in life is the “unexpected.”We like to convince ourselves that nothing serious will happen to us, but the unexpected happens surprisingly frequently. At some point in your life, whether it’s losing a job, your car breaking down, paying for a funeral or having to visit a sick family member in a distant location, you are going to need access to a reasonable sum of money very quickly. Invest in seven ventures,…

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EDITOR IN CHIEF

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Have you saved for a rainy day? I mean do you have enough money to set aside to make your living expenses in the event that you lost your job? In 2013, ING bank did a survey with frightening results. They discovered that the average Australian would run out of money in just six weeks, I believe that in the united states it's as short as 4 weeks. It’s a very serious problem! Even though their unemployment rate has come down,…

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EDITOR IN CHIEF

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When a family member or a friend approaches you for financial help, the $64 question that will run through your mind is: should you lend or shouldn’t you? More often than not people who lend money often run the risk of straining a relationship simply because the other party has trouble paying back. So what are you to do? Here are some ways to discern and to determine when is it smart to lend money to a friend or relative…

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EDITOR IN CHIEF

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True costs of raising a child

Couples always talk about the joys of raising a child. Holding your baby for the first time. Lulling that little bundle of joy to sleep. And how about their first words and first step? The joys are endless (and so are the costs). Family experts remind couples to open their eyes to the financial (costs) responsibility that comes with raising a child. According to statistics released by the United States Department of Agriculture, a middle-income couple would have to spend…

Related: Practicing Stewardship and Budgeting

EDITOR IN CHIEF

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I want to talk to you about your next door neighbor. How many times have you heard it said, “he’s just trying to keep up with the Joneses”. You probably all have, at some stage of our lives, wanted to keep up with others. The reality is that there will always be someone who has more than you. Even if you are a billionaire there still be another billionaire who has just a little bit more. To most of us…

Related: Practicing Stewardship and Budgeting

EDITOR IN CHIEF

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Have you done a budget? A budget is a simple tool that you used to track your income and your spending. The idea is to first understand where your money is going, and then use your budget to make necessary adjustment to your spending and lifestyle in order to manage your money more wisely. A budget is your first act of financial stewardship. If I look at your budget, I could tell very quickly what is important to you and…

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MAKE MONEY

Budgeting Made Easy

EDITOR IN CHIEF

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Budgeting

A budget is simply a tool to forecast and track your income and expenses. Budgeting is actually a Biblical concept. Consider Luke 14:28:  “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it?” Budgeting is an important aspect of financial planning. How can you plan for the future if you are unaware of all your expenses in the present? For normal day…

Related: Practicing Stewardship and Budgeting

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