MANAGE YOUR MONEY

Hello everyone...

Its FINANCIAL FRIDAY with TRIBESMAN EPHRAIM.

On this week's edition of FINANCIAL FRIDAY, we will be looking at the topic "MANAGE YOUR MONEY", we are still under the series - FREEDOM FROM FINANCIAL BONDAGE and under this theme, we will be looking at HOW MONEY WORKS, that is; how you can make, manage, invest and expand money. [This will be the running topic under the theme]. But first let's introduce this by looking at the topic: MANAGE YOUR MONEY.

There is one thing I have discovered, there are so many people who can teach money management skills and even go for money management seminars to learn these skills, but for money spending skill, we don't need to be taught, we all have automatic anointing for that.

If you must ever build wealth, you must spend less than you earn, other than that you can't build wealth. Some of us will wrestle with that; "spend less than I earn? When what I earn is not even enough and not up to what I spend".

Some people have a policy: whether it is your money or not, the important thing is for you not to lack anything per time. Some people borrow shamelessly to spend money.

One key problem I have also discovered is that the attitude most of us have towards money is this, ‘it’s for spending’. Most times we see wealthy people as selfish or stingy. You begin to ask "how can this man have the money and not spend it?"

What poor people don't understand is; it was that control and discipline that allowed the money to build up to the point where you called it wealth. Some people don't only spend what they get, but spend more than what they get. You may ask: "what if the money is not enough?” I tell you, the money will never be enough. The only way to turn the things around is to save some. If 1, 000 is not enough, it also means 900 is not enough. Save at least 10% if not save 5%. Why not take little from that 1000 and fulfil a principle that will change your life.

Joseph told Pharaoh in Genesis 41:34, "famine is coming, the bad times are coming ahead, let's save a fifth part (20%)". But many people don't think like that. You must curb your appetite if you want to grow wealth. This can be difficult sometimes when you live in a culture that is built on consumption, and especially when people are trying to impress themselves.

Some will say: "how can we hold a wedding ceremony in our family and we won't kill five cows?" Or "we must celebrate this birthday in a way that people must hear about, and we must shut down the streets", others will say "with our status and personality, I can't do this celebration in the secret". There are people who spent so much for their wedding and as soon as they are in their honey moon, they had migraine, because they tried to impress people. You have to deal with all of that and stop impressing people. You can't spend more than you earn. You must spend less.

How do you control your spending? [This will be expanded subsequently]

Do a budget and use that budget to control your spending.

YOU might say, "how can we organize this ceremony and they are selling ___ you know that it’s our own culture here, for every ceremony (burial, wedding, anniversary, etc.) you must cut some dress ___ how will they hear, I'll be the only one not wearing what they are wearing". And so?

Anyone angry that you are not wearing the right thing should buy you one. When I bagan to have financial mentors, they said to me, "I have been hard on myself and it has paid me". And I’ve learnt to do that too.

1Cor. 6:12, “All things are lawful for me but all things are not expedient”- they are not important. You have got to curb your appetite. Don't try to live to the society's standard or definitions of success.

Just know that expenses will always rise to meet income. Once your income goes up, get ready. The moment you get that pay increase, and you are walking through a super market, the items there will talk to you and remind you, "the last time you came there, you couldn't afford me, but now you can, buy me. Put poverty to shame. You need to prove something to yourself that your level has changed." And in proving something you will spend the money, then there will be nothing to show for the increment – stop borrowing, stop owing, it is becoming a habit, it is becoming a weakness stop it!

Proverbs 21:20 There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up. [You can check this from other Bible versions]

If you spend everything, no matter the excuses you are a fool. What???!!!

I know it’s hard to believe. The first time I saw this scripture, I was like wow, then I read it from all versions of the Bible, then I had to change my habit. Spending everything shows your wisdom pipe is blocked. As an individual don't spend everything. If you don't develop these management skills what will you do when you become a manager? I leave this for you to answer…

Join me next Friday for another expository edition of “HOW MONEY WORKS”.

See you then!

God bless you!