

Money and Fear
No recession in heaven, He owns & controls everything. In heaven, worrying about money & fear doesn’t make sense. On earth, we all just need to ask God to provide! He enjoys providing for the faithful.
“Faith is essential in your success. Faith is needed in almost every area of our lives: work, projects, and small business endeavors,” – Alex Cook
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, yes, in eight; you do not know what disaster may come upon the land.
Ecclesiastes 11:2
Furthermore, when these unexpected events occur, the most common source of funding becomes the credit card. This means that most people depend on debt to meet their expenses in the event of an emergency. In fact, research in the United States shows that the three most common reasons for outstanding debts on credit cards are unexpected job loss, unexpected medical expenses and student expenses. Funding all three of these events by credit card is completely avoidable by saving for the proverbial rainy day.
The Solution
Put an emergency fund in place. An emergency fund is simply a bank account or similar which can be accessed within 24-48 hours to meet living expenses as they arise.
The amount you should set aside is a point of contention amongst financial planners. However, I suggest you have cash to the value of at least six months of everyday living expenses. This should ensure that the impact to your lifestyle is minimised in the case of an unexpected event taking place.
Key Issues
For some people, the idea of building up an account with six month’s expenses may seem daunting as it might take more than some time to accumulate the funds. To deal with this potential frustration, my general recommendation is to save at least 10% of your disposable income towards long-term goals. Initially, you should use the 10% to build your emergency fund and when it has hit the six month mark, devote your savings to long-term investments.
As little as $1,000 set aside for an emergency can minimise the use of credit card debt or borrowing from others.
OTHER ARTICLES
No recession in heaven, He owns & controls everything. In heaven, worrying about money & fear doesn’t make sense. On earth, we all just need to ask God to provide! He enjoys providing for the faithful.
If you understand that the wealth you have right now is God’s money, then you should start thinking about passing it with a purposeful sense.
Protecting our wealth really means protecting our families and ourselves from these financial hardships that have a setback to our finances.
0 Comments