In the middle of this pandemic,I did what anybody would do with their free time.I conducted a random research while cruising the internet and with private conversations with different people, a common response was collected. There is a universal way of managing finances which in most cases is the spendthrift and extravagant way which many people fall victim of.This is the Ugly part I was referring to earlier.But there is also the frugal and thrifty way that people practice, having exercised strict discipline and consistency.
Take for instance two people earning the same amount of money from an establishment, one working on a budget ,exercising constraint and firm control with a well set out plan because they have responsibilities while the other having no responsibilities thus spending blindly having perfect knowledge of a refill (monthly salary) in the coming month. It might seem that the former is missing out as compared to the latter, but it is pretty clear that that which is needful and matters most is handled with care with the perspective of eternity. Contingent in this matter is proper management of personal finances needed.
In doing this successfully, putting first what needs to come first is necessary. Most people would agree that tithing is necessary. God only needs ‘10% of total earnings and he promises to open the windows of heaven that one will not have room enough to store the blessings’ (Malachi 3:10)
Second, saving for a rainy day. We live in a world of great uncertainty and the human race will always be prone to emergencies. Saving for retirement for example is a righteous cause, saving for advancing in higher learning, purchasing a home or property is only done by accumulating little by little and cent by cent.
Third, multiple sources of income helps a lot and that is where investing is necessary. In managing personal finances, one needs to ensure that not all of it goes to the drain, there needs be a way in which more is made. So, sacrificing a little and investing it helps one develop
