Financial Management in the Home Introduction Financial problem

Financial Management in the Home

Introduction • Financial problem is one of the major sources of problems in marriage relationship. It starts often when one partner is being kept in the dark. We therefore need to be very careful how we manage our finance. • A. Sources of Finance (Income) in the home • B. Spending of Finance (Expenditure) in the home • C. Balance Sheet (Profit or Loss) in the home

Sources of Finance (Income) in the home • . God our creator is always working, John 5: 17 • . We have to work to earn a living, Gen 3: 17 -19; 1 Tim 5: 8 • . Money answers all things, Ecc 10: 19 • . Both man and woman have to work • . Whoever does not work must not eat, 2 Thes 3: 10 • . The reward or wages we earn from our work and our investments are the sources of our income.

Spending or Expenditure in the home • . Tithe payment, Mal 3: 10 -12 • . It is our security/sustenance • . it is what brings additional finance • . it is what protects us from devourer, unnecessary & unplanned for spending, etc. • • . Savings - Liquid cash saving • . Save for tomorrow, children education, old age, investments – property, stocks, etc. • . Jointly agree on the percentage of your joint income to save. • • . Living expenses - mortgage, utility bills, transport, rent, food, clothing, etc. • . Jointly agree on the percentage to spend • • . Gifts/Offerings/Support • . The more you give out, the more you receive, Lk 6: 38; Prov 18: 16 • . A gift makes a way for the giver, Pro 18: 16; 11: 24 -25 • . Cast your bread upon many waters, Ecc 11: 1 • . They are also our security/sustenance, Pro 19: 17; 21: 13; 22: 9; 28: 27 • • . Miscellaneous or contingencies, enjoyment, vacation, unexpected financial obligation, etc. •

Balance Sheet – Profit or Loss in the home • Be open to each other • . Be both open to God – obey God – in tithes, gifts/offering/support • . Do not undermine each other’s ability/capability • . Work together as a team, not as individual • . Support each other’s aspirations/ambition. • . Invest in each other’s future. • . Do not see your paycheck as your own alone, but as family’s resource • . Have a joint savings account where each party deposit a % of his/her income for future family needs, home, children school fees, etc. • . Do not encourage idleness, both parties should work/contribute towards family income. • . Do not secretly spend the family’s savings without the knowledge of your spouse.

Conclusion • When you do all these, you will be at Profit level – a healthy family • • But when you fail to do any of these, and you are not in agreement/harmony with your spouse, you are on the way to a Loss – which can lead to bankruptcy and liquidation - Divorce. • • May the Lord help us in Jesus’s name