There are things in life that we don’t have control over, such as the economy, tragedies, and other unexpected u-turns in our life. However, it is said in the scriptures that one must prepare for unexpected circumstances in life, and it is also said in the scriptures that one must save up in order to secure his future.
Supporting verse: Proverbs 23:4
The Holy Spirit gave you the power and wisdom to discern, how to save and where to put your money wisely so that when tragedy strikes, you’ll be ready to stand your ground and weather the storm that ravages you and your family.
Here 8 tips on how to wisely ensure your money:
1. Build a habit to Record and Track your spending. Try using an excel file to record or keep track of your spendings, using this method it is much easier for you to know where to adjust in terms of your budget and know where you’ve spent your money on. This habit can also teach you to prioritize which of which is more important and it builds a habit to spend your money wisely.
2. Prioritize your Wants and Needs. This tip can help you discern the things you need and things you want, and may help alter the common perception to buy things impulsively, this tip is also like the Holy Spirit’s voice telling you that you need to pause and think about the things you want and think of it for 21 times if you have a list of where you can use the things, then it is a necessity if not, it is a luxury.
If you’re having a hard time knowing whether you want it or need it, pray for it, and let 21 days pass, if you still think of it after 21 days, then probably you need it.
3. Refrain from Using Credit Cards to Pay for Bills. Though it is hassle-free to just swipe your credit card in reality it will just pile up on your monthly payables, so to be practical just pay your bills with cash and on time.,.
4. Save! Save! Save! In order to build this habit you must be open, you must build this practice – open a passbook savings account then save 10% of your monthly income into your passbook so that you won’t be able to access it since you have to fall in line whenever you need to withdraw.
Of course, allot an emergency fund on the side of your savings.
5. Get Insurance and Review your Policy. Always learn to check your policy and scrutinize the coverage plan, and compare it to other premiums that you’re paying. If you are paying a bigger sum for a lesser premium, talk to your provider and adjust. Insurance policies belong to your necessities, however, you must be mindful of its coverage.
6. It’s okay to give gifts and donations. As long as it fits your monthly budget, if not purchase something that may fit your planned budget.
7. Lower your Energy Bills. Simple logic, if not in use, unplug it, as well as purchase appliances that have low energy consumption values. This tip may help you to cut down on monthly utility bills.
8. Cut down on your delivery habits. It’s a guilty pleasure to shop online and avail of food delivery services, as some may find it very therapeutic, and it’s fine as long as you have excess funds on your cash flow but if you don’t have extra, learn to discipline yourself as this habit may harm your cash flow and endanger your savings.
Just simply cut down unnecessary spending.
Simple isn’t it?
Learn to save for the rainy days as no life circumstances are promised to us, but one thing is for sure the guidance of the Holy Spirit is always there to serve as our insurance in life here on earth but we must listen to it, do it, and we must be the humble servant of the Holy Spirit in order for it to guide us in our journey.
See you next time for more tips! Always pray, and Stay safe my dear friend.