The Financial Post- Building a Savings/Emergency Fund

2009-04-10T16:44:00Z

Hosea 4:6

My people are destroyed for a lack of knowledge: because thou hast rejected knowledge.

Do you depend on your paycheck to pay your bills? Do you find that your expenses exceed your income? Would you like to have money in the bank for emergencies? God promised to supply all of our needs according to his riches in Glory, but God also teaches us that faith without works is dead. Not having a savings account is unwise. As Christians we look to the hills which cometh our help, but we also have to use Godly wisdom and be good stewards of our money. Building a savings requires budgeting and sacrifice. Budgeting requires cutting expenses and managing income. Instead of purchasing coffee in the morning, bring coffee from home. Eat out 3 days a week as opposed to 5 days a week. Use the extra income available after cutting expenses to build a 6-12 month emergency savings account. Website www.betterbudgeting.com has a free budgeting worksheet that can be used to set up a savings plan. WE can do all things through Christ that strengthens us. Budgeting requires sacrifice, but greater the sacrifice, greater is the reward. Just as Jesus was sacrificed on the cross so that we would be saved, we can sacrifice excess spending and build a savings fund for ourselves and our families. Please feel free to submit questions or topics you would like covered in “The Financial Post” by email to jmcmath@realtracs.com or by phone at 615-474-2194.

May God Bless You and Keep You

Financial News You Can Use

2009-03-07T01:07:00Z

THE FINANCIAL CORNER

Hosea 4:6 My people are destroyed for lack of knowledge: because thou hast rejected knowledge.

Are you living from paycheck to paycheck due to overwhelming debt? Has debt caused you to stop paying your tithes and offering? Would you like to know how to turn a financial mess into a victorious testimony? Let 2009 be your year to get rid of or decrease your debt. First identify how much debt you have by listing the debts on a piece of paper. Look at your interest rates and monthly payments. I recommend paying off the debts with the higher interest rates first, which is usually credit card debt. Credit card debt is the worse type of debt to have. Credit card debt lowers your credit score. Your credit score is what creditors use to determine if you are a good risk to extend credit to. The higher your credit score, the lower your credit interest rate will be. Paying bills on time and keeping your credit card balances below 35% of the credit limit are great ways to maintain a high credit score. It is tax refund time. Use your tax refund wisely and pay off or decrease your debt.

God Bless,

Jenny McMath

Realtor/Investor

Disclaimer: The information provided in this column is for informational purposes only. The Realtor/Editor of this column and is not a certified financial advisor/counselor and will not be held liable for any information and/or advice provided in this column. Seeking financial advice from a certified financial advisor or researching the information in this column is recommended.