Why set financial goals for your family? Why even do financial planning in the first place?
Perhaps you can answer that for yourself after reading this:
Do you know of someone who after becoming established with his job, decided to propose to his girlfriend? You first attend his wedding, then the baptism or dedication ceremony of his child. Pretty soon, you see pictures of where his child goes to pre-school, their new home, new family car. After a few years, you hear his child is off to college and you discuss about great places to travel to, insurances and possible retirement. A few more years then you hear different set of friends talking about their aging parents, medical issues, a crisis in finances and sadly, even death.
Most of us, if not all, will go through these series of life events. The question is, are you prepared for the financial burden that each life event may bring?
God says in Proverbs 27:12 “The prudent see danger and take refuge, but the simple keep going and pay the penalty”.
I believe a lot of us are busy about making money. But the real challenge lies in what you do with that money. Dave Ramsey, America’s trusted voice on money, teaches that “Personal finance is 80% behaviour and 20% knowledge or skill”
Where do you get that 20% knowledge or skill? Start with God’s principles to have the proper foundation. These are not a set of rules to govern us, rather, it is a loving Father’s wisdom to those who will trust and listen.
Biblical principle #1: God is the real owner of everything we possess
God says in Psalm 24:1 “The earth is the LORD’S, and all it contains, The world, and those who dwell in it”
When it comes to how we must handle money, you and I are best described as STEWARDS.
Whether you have LITTLE or MUCH, we are accountable to GOD. So ask yourself this now: What are you doing with the money God has given you? What are you doing with your time and ability to improve your cash flow? How is your cash outflow in comparison to your cash inflow? Where are you investing your money? Are you in debt?
Remember God says in:
Luke 16:10 “Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much.”
Luke 16: 12 “And if you have not been faithful in the use of that which is another’s, who will give you that which is your own?“
Take time right now to assess your standard of living. Read more about what God wants to make out of your finances and your life here.
Read More:
- The Importance of Critical Illness Plans in Holistic Financial Planning
- The Real Benefits of Estate Planning, Part 5 of Estate Planning 101
- The Ultimate Expression of your Love for Your Family
- 3 Genius Reasons behind VUL (Variable Unit Linked) Insurance
If you want to know plan for your family’s financial plan, let us help you. Contact us here.
Katrina Rey MD
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