Money, The Best Way To Use It | Financial Management

INTRODUCTION

Money or wealth is a major part of our life. We deal with money every day. Jesus talked about money more than any other subject. Money is a good thing given to us by God, but if money is not managed properly it can be disastrous. The study says 64% of couples argue over money-related issues, and 54% of divorces are money-related. God has a plan for our money and God has guidelines in the Bible on how to use our money.

This Sunday we are going to learn about making the best use of our money (Financial Management).

God is the source of all Riches.

I Chronicles 29: 12 12Wealth and honor come from you; you are the ruler of all things. In your hands are strength and power to exalt and give strength to all.

Proverbs 8:20-21 20 I walk in the way of righteousness, along the paths of justice, 21 bestowing wealth on those who love me and making their treasuries full.

When God gives us money God wants us to use it faithfully.

Luke 16:10-11 10“Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much. 11 So if you have not been trustworthy in handling worldly wealth, who will trust you with true riches? Jesus said if we have been careful in spending the Rs.100 He will give you more but if we have been dishonest with the little money we have we will be dishonest with more money. In other words our financial management has to start right now, when we have little cash with us. I have heard many people tell when I get a good salary I will start managing my finances properly, no our financial management has to start now. Therefore if we have not handled the money we have faithfully God will not give us an increase. This is the reason some are poor and some are rich (I am talking about Christians).

Biblical Financial Management

1. Give to God.

Giving to God involves: Tithe & Offerings.

Tithe

Genesis 14:18-20 18 Then Melchizedek king of Salem brought out bread and wine. He was priest of God Most High, 19 and he blessed Abram, saying, “Blessed be Abram by God Most High, Creator of heaven and earth. 20 And blessed be God Most High, who delivered your enemies into your hand.” Then Abram gave him a tenth of everything.

Your tithe is one-tenth of your overall income.

Why do we pay our tithes?

Deuteronomy 14:23 23 Eat the tithe of your grain, new wine and oil, and the firstborn of your herds and flocks in the presence of the LORD your God at the place he will choose as a dwelling for his Name, so that you may learn to revere the LORD your God always.

We pay tithes that we may place God first with our increase.

Give tithe for:

Salary                          Fixed Deposit

Arrears                        Site sale

Bonus                          PPF

Business profit            Sensex profit

Bond maturity            Vegetables

LIC                              Fruits

House sale                  Cattle

Tithe for every increase you have.

When you tithe God will bless you even more. Deuteronomy 15:4 4 However, there should be no poor among you, for in the land the LORD your God is giving you to possess as your inheritance, he will richly bless you.

Where do you tithe?

Malachi 3:10 10 Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,” says the LORD Almighty, “and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it. Bring the whole tithe as one to the storehouse. Storehouse is a place from where you get your supplies. The church is the spiritual storehouse as you get your spiritual nourishment from the church. Do not break your tithe and distribute it, bring it as a whole (one portion) and give to God.

What if I do not tithe?

Malachi 3:8-9 8“Will a man rob God? Yet you rob me. “But you ask, ‘How do we rob you?’ “In tithes and offerings. 9 You are under a curse—the whole nation of you—because you are robbing me.

Offering

Exodus 22:29 29 “Do not hold back offerings from your granaries or your vats.”

Exodus 23:15b “No one is to appear before me empty-handed.

Psalms 96:18 8 Ascribe to the LORD the glory due his name; bring an offering and come into his courts.

Ways you can give your offerings to God:

• Sunday Services
• Birthday Offering
• Wedding Anniversary Offering
• Thanksgiving Offering.

Now God keeps records of Our Tithes and Offerings.

Numbers 7:10-17 10 When the altar was anointed, the leaders brought their offerings for its dedication and presented them before the altar. 11 For the LORD had said to Moses, “Each day one leader is to bring his offering for the dedication of the altar.” 12 The one who brought his offering on the first day was Nahshon son of Amminadab of the tribe of Judah. 13 His offering was one silver plate weighing a hundred and thirty shekels, and one silver sprinkling bowl weighing seventy shekels, both according to the sanctuary shekel, each filled with fine flour mixed with oil as a grain offering; 14 one gold dish weighing ten shekels, filled with incense; 15 one young bull, one ram and one male lamb a year old, for a burnt offering; 16 one male goat for a sin offering; 17 and two oxen, five rams, five male goats and five male lambs a year old, to be sacrificed as a fellowship offering. This was the offering of Nahshon son of Amminadab.

Jesus watches what your give: Mark 12:41 41 Jesus sat down opposite the place where the offerings were put and watched the crowd putting their money into the temple treasury.

The first principle of financial management is giving our tithes and offerings.

2. Save Money.

Proverbs 21:20 20 In the house of the wise are stores of choice food and oil, but a foolish man devours all he has. Proverbs 30:24-25 24 “Four things on earth are small, yet they are extremely wise: 25 Ants are creatures of little strength, yet they store up their food in the summer.

• Average Japanese save 25% of their income.
• Average European save 18% of their income.
• Average Indian save 8% of their income.
• How much do you save?

Proverbs 13:11 11 Dishonest money dwindles away, but he who gathers money little by little makes it grow.

ILLUSTRATION

If a family with an income of Rs. 15000 and if he decides to save Rs. 1000 per month. At the end of 15 years he will pay Rs.180000 and he will get Rs.215000. Excess of Rs.35000.

Saving is powerful but we seldom do it.

3. Keep out of Debt.

Never take money from anyone (friend, relative, neighbor, or banks). Taking a house loan and a vehicle loan is okay because it has its own benefits. But when you take a house loan and car loan think about your repayment capacity and the bank hidden charges. Any debts beyond vehicle and house loan are not permissible.

Psalm 37:21 21 The wicked borrow and do not repay, but the righteous give generously.

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

How people take debts?

Neighbors                             Pawn items

Friends                                    Interest Lenders

Relatives                                 Salary Loan

Church members                    Loan from office

Bank (Personal Loan)             Loan from Shops

Credit Card

All kinds of debts have to stop if you need a financial breakthrough.

ILLUSTRATION

Suppose the same family with an income of Rs.15000 has decided to use their credit card and accumulated a debt of Rs.12000 per year. At the end of 15 years, he would have taken Rs.180000 but he would have to pay the bank Rs.600000.

The charges on a credit card bill or any loans. Be careful when you take one.

Annual charges           Rs.250.

Interest                        3.1%

Service Tax                 10.3%

Late payment              Rs.600

Insurance                    Rs.600

Cheque bounce           Rs.350

Over limit changes     Rs.350.

We are living in a world where it is difficult to life without a credit card although I do not have one. But we must know how to use a credit card otherwise it will land us in great trouble.

Come out of all debts as soon as possible.

4. Spend Carefully.

Proverbs 21:5 5 The plans of the diligent lead to profit as surely as haste leads to poverty.

Proverbs 21:20 20 In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.

Tips to spend carefully?

Know your salary.

Decide to spend less than your income.

Budget and spend carefully.

Stop impulse buying.

Spend on necessities or needs not wants.

My God shall supply all my needs

Points for cautions in your money dealings

1. Be Content.

Hebrews 13:5 5 Keep your lives free from the love of money and be content with what you have, because God has said, “Never will I leave you; never will I forsake you.”

Many people will offer you great deals and plan as life goes by, never jump into it, it maybe a trap for you. Be content with what you have.

2. Do not COSIGN.

Proverbs 27:13 13 Take the garment of one who puts up security for a stranger; hold it in pledge if he does it for a wayward woman. When a person cosigns as deal or loan, the cosigner is the person who is actually responsible for the repayment of the loan. The reason a person needs a cosigner is because the lender is not confident about the repayment capacity of the person and you are saying I will give if he does not pay.

3. Seek Godly counsel.

When it comes to spending huge money for a house, sites, or shares in your house have a godly person to seek godly counsel but be sure who that person is or he will take away one of the shares.

Psalm 1:1 1 Blessed is the man who does not walk in the counsel of the wicked or stand in the way of sinners or sit in the seat of mockers.

Proverbs 15:22 22 Plans fail for lack of counsel, but with many advisers they succeed.

CONCLUSION

If you can follow the 4 steps of financial management I guarantee you, you will have enough and more money to meet all your needs. Let us reiterate the points altogether.

1. Give Tithes & offerings to God.
2. Save Money
3. Keep out of debt.
4. Spend Carefully.

God Bless You!

Money – Make the best of it!