FINANCIAL LITERACY / FINANCIAL MANAGEMENT

 

I. UNDERSTANDING THE BASICS OF FINANCES

 

   Financial Fitness - Involves the habit of saving part of one's income   regularly.

1. A Financially fit person has peace of mind and a healthy sense of self-esteem.

2. Financial Stress ... is a major source of anxiety, hampering work efficiency and impaired relationships.

3. There should be a right money mindset because...

       a. Our money mindset is the key to financial success.

       b. Our money mindset will determine our financial future

 

       "It's true that money is not the most important thing in life ...

      But, money does not affect everything that is important to life."

                                  - Robert Kiyosaki

 

IS MONEY IMPORTANT TO GOD ?

• In the gospels alone, one out of every ten verses relates directly to the subject of money.       Sixteen of the thirthy eight parables are concerned with the handling of money and possesions.

• God does care about money management and has given us in His word the blueprint for the proper stewardship of our finances.   

 

The Financial Ethics

 

1. God grants spiritual blessing and favor upon us according to our faithfulness and integrity in financial matters. "Moreover it is required in stewards that one be found faithful." ( I Cor.4:2 ).

2. The Christian must endeavor to maintain a good conscience before God and others in all of his business and financial affairs. "Whatever a man sows, that he will also reap." (Gal. 6:7)

 

Lesson from Ant - Proverbs 6:6-8

 

II. FINANCIAL STEWARDSHIP

 

Why Do we need to manage our money ?

1. We need money to live.

2. We need money to grow.

3. We need money to help others.

4. We need money to live harmoniously with others.

5. Because we need money for the future.

6. We need money to protect and realize our dreams, plans and goal.

 

Paradigm Shift ---

 

 

Income - Expense = Savings             Income - Savings = Expense

 

10 Steps To Achieve Financial Success

 

1. You must know where your money is coming from. (Income)

2. You must know where your money is going. (Expenses)

3. You must believe that you can be financially successful.

4. You must set Financial Goals.

5. You must plan to achieve your goals by having a ... Budget.

6. Use your money wisely.

7. You must monitor your income and expenses.

8. You must evaluate your income and expenses.

9. You must be committed to your plan daily.

10. You must seek first the Kingdom of God and His righteousness and all of these things will be added unto you.

 

III. ACTION PLAN:

 

1. Start the easiest and most common way of saving ( have piggy bank )

2. Open A savings aacount in a COOPERATIVE or BANK.

3. Let your money grow by : Investing your money in a trusted/listed financial Institution or company.

 

WHY SAVE IN A COOPERATIVE ?

 

1. It requires small amount to open a Savings Account.

2. It requires lower maintaining balance.