Take time to plan
June 1, 2022
I’m Miriam Neff-with and I’m Valerie Neff Hogan with Wise Women Managing Money
M Financial realities can change unexpectedly. When inflation is 8%, think of your spending plan this way. Take the dollar amount of your monthly expenses and multiply by 1.08. Example if your budget is $4,000.00 per month multiplied by 1.08 will be $4.320.00.
V Do you have that margin of $320.00 extra? Be smart, be aware. We say Know it and Own it. If income does not go up, spending must go down. Our culture says swipe it, push debt forward, and hope. This is a plan for disaster. Proverbs 21: 5 says, ‘The plans of the diligent lead to profit as surely as haste leads to poverty.’ Plan with 3-6 months budget amount in reserve.
M That planning time is valuable. Hastily continuing spending? Scripture calls it poverty.