MANAGE YOUR FINANCE

It is a well-known fact that one of the battles youths of this generation are fighting now is that of financial stability, but it is saddening that many of these youths have not really learned the skills, dos and don’ts of the financial battle system and because of this, many are failing and conquered at the battlefront.

There are many stories of young entrepreneurs that made it early but because they did not have the knowledge of how to maintain and grow wealth; the wealth eventually grow wings and fly away from their hands. Proverbs 23vs5. The wealth in the hand of many youths has grown wings and flown away because they are inexperienced when it comes to accountability. Matthew 18vs23.

You need adequate financial skills than even your parents, you need to be financially responsible because you have to face every financial challenge on your own.

WHAT ARE THE SKILLS YOU MUST POSSESS IN ORDER FOR YOU TO MANAGE YOUR FINANCE VERY WELL?

• Learn to be Accountable. Matthew 18vs23.

The Bible passage above says the king always takes account of his servants; you cannot say you are financially stable because you are a millionaire or billionaire but when you are a good manager of money, you will experience financial stability and rest.

Accountability is responsible for a thing done. Romans 14vs12. To be accountable is to have a financial plan and to have proper documentation for your financial transactions. When you are accountable financially, you will grow more and be fruitful financially. Matthew 25vs21, Luke 16vs10, Luke 19vs17.

• Have a Budget for Everything. Luke 14vs28.

You must stop spending out of impulse. You need to learn the art of budgeting as a youth if you want to be stable financially and have financial rest. Planning and budgeting are necessary for proper financial management.

A lot of people do not have good budget plans to guide their financial paths and thereby landed in a serious financial crisis. When you have a budget for all your spending; it will help you control your money instead of being controlled by money; likewise it will help you to live within your means. Having good budget plans will encourage you to be satisfied with what you have. Philippians 4vs11, Hebrews 13vs5.

• Have Priority And Master it.

This simply means you must not be a waster because God hates wasting. John 6vs12. The truth is, you cannot attend to all your needs and wants at once, but you must learn how to attend to them on a level of importance. You must learn to buy things that are necessary and vital at times.

Stay clear of indebtedness, and put your spending in the order of importance. 1 Corinthians 6vs12. When you spend recklessly, you will end up in want. Luke 15vs13-14. Prioritizing your spending frees you from financial trouble.  You must be prudent in your spending if you want to reign financially.

• Learn Giving. Luke 6vs38.

This is another secret of wealth management you need to know as a child of God.  As a child of God that wants to rule financially, you must learn and re-learn the habit of giving.  The Bible says, for with the same measure that ye mete withal it shall be measured to you again.

This is a covenant and kingdom practice that is still paying off till tomorrow. The quality of your giving will determine the blessings that will flow from God to your life. It will also determine the level of wisdom God will give you to manage the remaining percent that is with you.  Isaiah 1vs19, Job 36vs11.

When you pay your tithe, it is an acknowledgment and recognition that God is the source of all the money that you have.  Your tithe is the spiritual insurance of your money and wealth against devourers. Malachi 3vs11. It is because the devil understands this truth that is why he is introducing many philosophical and motivational sayings that tithing is not important and not biblical; he knows that the quality of your financial covenant walks with God will determine how financially buoyant you will be.  Give sacrificially to people around you, to your parents, to your community, to the work of God and people of God; and see how God will increase you financially and give you the wisdom to manage what he gives you.  Proverbs 19vs16, Matthew 10vs42, Deuteronomy 24vs19.

• Learn To Put Your Money into Investment and Savings.

In every harvest, there is a seed. This is the truth that every good farmer always works with. They know that if they must manage their wealth, they must not eat their seeds with the harvest. You must understand this principle also that, there is a seed in every income that gets into your hand, and it is your work to plant (invest) that seed (money) back into the ground (investment or savings) in order for you to get another harvest (returns of income). Genesis 41vs47-57.

To master financial management is to know how to save during the rainy season against the dry season. Learn how to put your money into savings as youths, do not eat your seeds with your harvest because if you eat your seeds today, you will beg tomorrow; just like a saying, he that goes borrowing goes a sorrowing. You need to know that most of the time, the seven years of plenty always come before the seven years of scarcity (famine). Ecclesiastes 11vs1, Ecclesiastes 11vs6.

• Learn to seek more knowledge about financial management. 2 Timothy 2vs15.

No one is a reservoir of knowledge – this is because most times, what you think you know, you do not really know, and reading books is standing on the shoulders of the writers. When a child is standing on the shoulder of an adult, he will see far beyond the adult. If you want to be stable financially and also go far financially, you need to give yourself to study. It is not magic or rocket science, it is by practice.

CONCLUSION:  If you must go far financially as a youth, you must overcome covetousness and comparison. You need to know that you are not like any other person; your destiny is unique. You have to kill the craving to get what does not belong to you. 2 Kings 5vs20-27, 1 Timothy 6vs6-8.

You must not be idle if you want to be financially free because idleness can bury a man’s destiny; put your hands into something, either big or small, try as much as possible to generate a source of income in a Godly way, and do not neglect the days of your little beginning. Job 8vs7, Ecclesiastes 7vs8. Manage what you have, do not be a borrower, because a borrower always becomes the servant of those who lend. Proverbs 22vs7, Ecclesiastes 10vs18, Proverbs 20vs4, Proverbs 24vs30-34.

Your financial destiny is in your hand, you have the capacity to mar or make it; the choice is yours but you can lean on Jesus Christ for help and wisdom. He (Jesus Christ) is always available to help you if you will allow Him into your boat. Luke 5vs1-11.