Monday, September 30, 2013

Know Your Status

Proverbs 27:23 NIV Be sure you know the condition of your flocks, give careful attention to your herds.

Being a good steward over the resources that the Lord has blessed you with is part of being spiritually healthy.  As you go about assessing your spiritual fitness, spend time reviewing your financial status. 

The bible instructs us to know the condition of our flocks. In biblical times, their wealth consisted of herds and flocks and not money, stocks, and investments as wealth is measured today.  How do you determine your financial status?

A great way to start is take a pencil and paper (or use your computer) and write down your monthly expenses. Also take note of your monthly income. Include all sources of income: salary, wages, child support, alimony, self-employment income, illegal funds, etc.  

Compare what you're spending to what you're earning/receiving? Are you overspending? Are you being wasteful?

You should assess your financial situation every month or at least every other month to have a solid grasp of your financial status. Once you know your status, set financial goals. 

*I'm going to dedicate Mondays as "Money Mondays" to discuss money management.  Next week, I will continue by discussing setting financial goals and developing a budget. If you have an area in money management that you'd like to see posted, let me know. I will work to get a guest blogger if needed.*

Be blessed and manage that dough! :-)

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