So we had a program at my Church focusing on financial stability, we learnt so many useful tips and I just thought I’d share some of the points with you! Don’t worry you can thank me later. Here we go!
Many people struggle financially because they spend years in school learning how to make money but not how to make money work for them – Robert Kiyosaki
Did you know that in the in the Bible there are 500 verses about love, 500 verses about faith but 2500 about finance and money.
It’s important that we master our finances, learn how money works, so we can teach your children and they in turn will teach their own children. Money makes good people better and bad people worse.
Learn to master the balance between helping others and yourself.
There’s a tool to help achieve your goals, dreams and getting what you want financially, it’s called the financial game plan, it’ll help you invest for the long-term, save for the short term, protect your income, eliminate debt. To get one, contact them and find out more information here: https://genistar.co.uk/financial-game-plan.php
Tithing, 100% of your money that’s unblessed is not as powerful as 90% that’s blessed because you gave the 10% to God. It’s important you pay your tithe.
A quick tip on mortgages:
Don’t pay your mortgage monthly pay it bi-weekly, it’ll knock 5 years off a 25 years mortgage.
Okay so how comes no money’s left by the end of the month?!
Use something called ‘Daily Allowance’
(salary per month – tax, bills, tithes etc) /30 (days in a month) = daily allowance
Having this amount in your mind should help you cut out expenses that are unnecessary
What Banks don’t want you to know,
The Rule of 72 and inflation: https://youtu.be/-PBHnc9_z2k
Debt has been renamed credit. Credit cards are designed for you to spend not save money, it’s a myth that you can’t get credit/mortgage without a credit card.
Borrowed money isn’t your money, it has to be payed back
What the stock market is and investing in it: https://www.youtube.com/watch?v=ixF_wB2uvOs
Fund managers are experts that help manage your money. How to get one? Investment course online, at the end, you get a risk profile, the value assigned will lead to the appropriate fund manager for you. For more information, contact: [email protected]
Lasting tips : Teach your children that they are responsible as well as mum or dad for bringing money into the home, teach them to make money for themselves
With your finances always remember that delayed gratification pays in the long -term!
Recommended books to read:
Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter
Key points from a talk by:
Steve Jenkins, Executive Vice President, Genistar