Mastering Money Matters pt.11

Handling Money Wisely

As we continue in this series, today we'll discuss handling money wisely. There are specific things we need to do be rich. We are abundantly blessed, but perhaps the disconnect is your finances aren’t being handled wisely.

In earlier messages, we talked about being an Earnest Earner, and learning there is a blessing and dignity in work. Then we explored how to be a Shrewd Spender, one who enjoys the fruits of their labor while guarding against materialism. Last week we learned about being Dutiful Debtors, only using credit strategically, and always repaying and trying to avoid debt.

1. I must walk the line between sowing and hoarding. Find the balance. Saving is putting aside money for an appropriate goal. Hoarding is stockpiling money beyond reason for no good purpose.

Pastor illustrated this definition using two fictitious couples: The “Wise Wilsons,” a family who plans and saves for vacation, relying on cash and a pre-established budget. The “Stressed Smiths” on the other hand, financed their vacation using credit cards and very little savings. On average, purchases made on credit cards cost at least 1/3 more because of interest fees.

Refer to the following Scriptures for Biblical examples on how to strike the balance between saving and hoarding:
Proverb 21:20
Proverb 11:24 – righteous people give
Proverb 8:1-5; 17-20
Proverb 11:4
1 Corinthians 1:30

Wisdom builds the house; understanding keeps the house standing; and knowledge fills the cupboards of the house.

Ask the Lord to teach you, help you define what is enough. Know and stay within your limits.

Savings goals:
1. Establish an emergency fund of $1,000 and do not touch it. Allow it to grow into a cushion account of no less than six months total household expenses. Keep this fund liquid in a money market account, for example.
2. Establish a project account – money you stock away for major repairs to your house or car. A certificate of deposit (CD) is appropriate.
3. Open a wealth builder account, such as an IRA.

A savvy saver = one who builds, preserves, and invests with wisdom; to shrewdly understand, canny wisdom.