• Know Your Numbers

    Happy Phriday!!!

    "Be diligent to know the state of your flocks and attend to your herds;" is Proverbs 27:23. I'm not sure if you have shepherded sheep or have flocks of birds but in biblical times it was the norm. A good way to think about this in today's terms is understand your money. In business it's said continually, know your numbers!

    If you are familiar with any business that is thriving with longevity more than likely they know their financial numbers. Similarly those that are wealthy or on the way to wealth have a keen since of the finances of their household. Don't confuse knowing your numbers with loving your numbers, it's not the same thing. The point is, you or you and your spouse should know everything about your personal finance! It's yours to steward.

    For example, if I asked you these questions: How much do you spend on groceries per month? What is your highest monthly expense? How much debt do you have? How much do you have in your emergency fund? You should be able to know those numbers immediately. This is what it means to know your numbers. If you don't, there is a serious problem, but why?

    Regardless of the amount of money you make, the type of car you drive, the size of your home, or whatever social symbol you deem as important not knowing your numbers will cause you to make bad decisions with money. How do you know if you are reaching your financial goals if you don't know what you have or where you're going?

    Budgeting monthly and continuously helps greatly with knowing your numbers. Looking at your paystub every paycheck is helpful. Checking your bank account is great too! I'm not asking you to be obsessed, but be diligent! Once you know your numbers it aids in making wise decisions. Should you go on the trip? Check your numbers. How much more do you need to save for a home down payment? Check your numbers. Can I buy this item right now? Check your numbers. Check your numbers until you know your numbers! Always know your numbers and please, choose Faith over Fear for your Finances!

    Picture credit: here and YouVision

    Post a Comment





    +1 785-430-6312