Deut8:18- You shall remember the Lord your God, for it is he who gives you power to get wealth, that he may confirm his covenant that he swore to your fathers, as it is this day(ESV)
YOU NEED FINANCIAL INTELLIGENCE(A)
You may have come across the phrase 'financial intelligence' without knowing the meaning or probably an ambiguous meaning was given when you heard it.
What is financial intelligence? In lay man's definition, it means to be intelligent about financial matters. It revolves round what you earn, how to manage your income and how to intelligently multiply your income through investments.
No matter how spiritual you are, you need financial intelligence to live comfortably. Even as a preacher of the Gospel, you need it. It is shameful to live in debt or penury as a preacher of the Gospel.
At present, the economy of most countries is shaky. Recently, I was surprised to read about unemployment and inflation in some Western countries. For those living in this part of the world, that has been a normal occurence.
Financial intelligence starts with proper management of your finances and then multiplying it. It involves getting the right financial education and living it daily.
A simple pointer to how intelligent you are in financial matters will be seen in how you spend. For instance, If you spend beyond your earnings, it shows you lack financial intelligence because debt won't be far from you.
I ince heard someone saying that he spends more than his income, that is financial foolishness and such will result in indebtedness(Rom13:8).
You must learn to live on a budget and stick to it. To achieve that, ask yourself, what is my total income? How much do I want to save? How much will settle major bills in my life and family? Your budget should not exceed your income. You must be intentional about this.
Do not live to impress or keep up with the Joneses. Living within your means is a great sign of wisdom and contentment. Live in a house you can pay the rent easily and put your children in a school whose fees you can afford. If your children are sent out of school often, it might be a pointer to the fact that you are doing beyond your financial capacity.
If you always have to take loan to pay rent, it is obvious you cannot afford that rent conveniently. Why take loan to pay rent why not use the loan to build? You don't take loan to finance your recurrent expenditure. It is unwise. Doing that will enslave you perpetually and leave you with nothing.
Wise people invest loans into assets( either long or short term), they don't consume it neither do they use it to finance a lifestyle of luxury.
Do not spend on impulse, that's the beginning of poverty. The marketers of products have a way of making you buy what you never intended buying and asking you to pay later. It is a trap, don't fall for it.
This year, to be financially intelligent, get simple financial education. You will need it.
- I receive grace to be financially intelligent In Jesus name.