(a chapter from my book, The Turning Point: Breaking Through)
From what I can see, the financial world in the free market economy is relatively unstable and chaotic. We must create financial stability to help smooth out the bumps.
Consider always tithing your increase. Faithfully and obediently. Ultimately, it is your choice, but it makes all the difference. [Malachi 3:10 NLT]
Make saving a regular habit. Regular saving adds up over time. Put aside enough to cover at least two to three years of all essential expenses, saved as one or more low-risk investments readily accessible in an emergency.
Create multiple income streams. If any of our income streams hit a snag, we will have the others to fall back on.
Minimise your debts. Even better, eliminate them entirely. If you can, avoid debts altogether, primarily credit card debts. Credit card debt repayments can be debilitating. It’s an expensive form of money. Repaying credit card debt plus interest can take up a significant chunk of your disposable income, which can sabotage your saving goals. Always live within your means.
Minimise your expenses. Just focus on the essentials.
In the Mighty Name of Jesus, Amen.
Thank You, LORD GOD, in the Mighty Name of Jesus.