Family finance is about sourcing and spending money in the family. It is about budgeting and planning for financial freedom.
Financial freedom is that you don鈥檛 depend on others, you are not indebted and your income is equivalent to your expenditure.
SOURCING MONEY FOR THE FAMILY
I. Employment: You must be well or gainfully employed.
II. Self employed
III. Trading while in employment
IV. Gainful employment or trading by wife
MONEY PROBLEM
When your feeding is not adequate
When what you spend is more than what is coming in
When you are always indebted
When you spend more
SOURCE OF MONEY PROBLEM IN FAMILIES
Lack of employment
When there is no proper planning as to size of family
When your saving scheme is wrong
When you don鈥檛 separate family money from business money
When your responsibilities are too much
When you are wasteful and spend unwisely
When you are not open handed to God in giving
When you are not faithful to God in giving
ANTIDOTE AGAINST FINANCIAL FAILURE
Beware of debt
Be faithful in your job
Be truthful in dealing with each other
Make sure you have a job at hand that God can bless
With prayer plan ahead
Make worthwhile and viable investment
Saving scheme for future needs
Open your eye to God鈥檚 prepared opportunities
You must have a liberal disposition
You must honour God with your first fruit.
Treat those that work for you or with you and those you work for.
ADVISE TO COUPLE REGARDING MONEY
Money must not divide you.
Discuss and deliberate on how to handle money
You must be open and transparent to each other
Wife must be humble when she become a bread winner
You must give to God鈥檚 work
You can consider joint account because it is good.
