FAMILY MATTERS-FINANCIAL MANAGEMENT

GCC 25th September Sermon

Financial Management = optimum utilization of the money

Family Husband, wife, children, extended family

As a family God has given us financial resources, but there are some economic realities we have to face

• Money is a scarce resource- it’s never enough ,
• We have insatiable wants- so many things cross our paths and we can never say we have had enough
• We always want more money and always seek to increase it.
• We need money to survive –we buy everything food clothing medical etc.

1. Situational analysis – know your status

• How many children, ages, needs
• Income/expenditure
• Obligations
• This helps u set priorities as you plan for the family
• Helps you avoid peer pressure e.g. if family x has this I also deserve it

2.Planning

• Always put God first as you plan for your family  
• Both the parents need to sit together to plan for the family –not for wife alone or husband-at one point involve the children
• Talk and talk through all the obligations that you can, come up with clear and purpose full priorities that will enable you increase your finances.
• Write down your plans.

3.Budgeting

• Attaching costs to your plans
• In most cases the expenditure exceeds the income side; we need to trust God and apply godly principles in our budget
• Items on our budget must be put in order of priority “

Malachi 3:9-12

• You are cursed with a curse, for you are robbing Me, the whole nation of you
• Bring the whole tithe into the storehouse, so that there may be food in My house, and test Me now in this,” says the LORD of hosts,
• “If I will not open for you the windows of heaven and pour out for you a blessing until it overflows. 
• 11“Then I will rebuke the devourer for you, so that it will not destroy the fruits of the ground; nor will your vine in the field cast its grapes,” says the LORD of hosts.
• 12“All the nations will call you blessed,
• For you shall be a delightful land,” says the LORD of hosts. 

1. Tithe-10%- Malachi 3:10- whole tithe
2. Offering -Malachi 3:6-10 -Under curse
3. Giving /Sowing Ecc 11:1- bread on many waters
4. Basic needs- food water /shelter, fees, etc. 1 Tim 5: 8  if u don’t provide-worse than unbeliever.
5. Savings prov 6:6- the ant stores food in summer and gathers harvest
6. Investments

God is true to his principles if we follow them we will have no challenge with growing our finances.

4.Implementation

• It’s important to follow our budgets in order to avoid impulsive buying.
• Buy Items in bulk.
• As we spend, creativity is necessary since resources are scarce e.g. can decide to grow food instead of buying it, instead of buying water install a nwsc line its cheaper in long run.
• Do not be wasteful –teach your maids –children how to handle resources.
• Teach children how to save, how to work, even house work –instead of hiring labour for each activity.

5.Realities in Family financial Management

• It is good for both spouses to work and earn an income, though may not be the case at times.
• In case one spouse has no income whoever is earning should know -that is the available family income and take on full responsibility.
• When one spouse earns a lot more than the other-remember the home belongs to you both; you planned together so implementation should be for both.
• Agree on the mode of operation-either combine finances or agree on which expenditure is done by who.
• Borrow only if you must, and the return must be more than the cost of the loan.
• Match income to expenditure .If you spend daily make an effort to earn daily
• Extended families- it is good to take care of them-but within limits, balance is important in order of priority- God- Spouse- Children then others.          

Ladies
Ladies you can also do part  of home expenditure with your income as a helper to your husband

1. Avoid Selfishness –ladies, saving for a rainy day
2. Avoid impulsive buying –especially on clothing
3. Ladies who earn more than husbands call upon the Lord to remain humble and submit.
4. Since most expenditure around home is by you, be creative –balance
5. Do not pressurize your husband to handle things he is not capable of, due to peer pressure.

Gentlemen 

1. As heads of the home, you are to spearhead the financial management process.
2. Work and work because it is your responsibility to provide for the family.
3. Avoid being mean-provide for the family.
4. Give your wife some money for her  to buy dresses and shoes- even if she works.
5. In case you once had money and are now low on finances- it’s not the end of the world arise and take your position follow Gods principles.
6. Avoid dubious deals in the name of making money

Children

1. Avoid being wasteful; ironing –on whatsap, TV, wasting water.
2. Do not make unnecessary demands on your parents.
3. Work in the home do not be liabilities.