I know this exact scenario because I’ve been there many times. I remember the embarrassment and shame upon realising that I had no money and no idea what to do about it. The funny thing is that many of us find ourselves struggling to manage our pennies even though we have full-time jobs. We’re not broke bums, far from it. We’re educated and smart but we’re not so smart with money.
Growing up I didn’t only observe how my parents handled their finances but how other Nigerian households managed theirs and I noticed a few things: – Money was always tight. There was no feast period because our parents were constantly stuck in famine mode. – Money was spent on things we didn’t really need which meant we couldn’t afford the things we did need. – Money ended up being given to other family members which again meant there wasn’t ever enough. – Having little money meant there was no room for fun holidays, other than the compulsory once in a blue moon trip to Nigeria. Holidays, like the ones my friends had, didn’t exist. These things were the reality not just for myself but for the countless other Nigerian and West African children I knew growing up.
Ultimately, all of these experiences and observations meant that I developed a unique relationship with money. It took time, discipline, prayer and a lot of reading to get me out of the money trap I’d often found myself in. I’m going to share with you some essential steps you should take to get yourself out of a money pit and into a space where financial blessings are abundant.[pullquote]It took time, discipline, prayer and a lot of reading to get me out of the money trap I’d often found myself in.[/pullquote]
- Step 1: Bring it to God, he does not give us a spirit of lack but one of abundance. I’m going to say that louder for the people at the back. God does not give us a spirit of lack but one of abundance!
God’s promise to us is filled with abundant blessings of all shapes and kinds. Our God is not a God of fear or scarcity so why do so many of us believe that we are doomed to an unblessed life? In Psalm 37 we are told directly: “Trust in the LORD and do good; so shalt thou dwell in the land, and verily thou shalt be fed. Delight thyself also in the LORD, and he shall give thee the desires of thine heart. Commit thy way unto the LORD; trust also in him, and he shall bring it to pass.” Trust, bring your problems to God and believe that he will handle them.
- That leads me to Step 2: use Godly wisdom. “Faith without works is dead.” God isn’t a magic genie who wants you to actively ruin your finances whilst praying for divine blessings. He is a God of action and he wants us as his children to take action to the best of our ability. It’s key to take action whilst being prayerful. How do you do that?
- Assess how much you’re earning versus how much you’re spending each month. When doing this include every single penny that’s spent including money for special occasions and treats.
- Identify whether there are any gaps. If you’re earning £1 and spending £5 then it is time to identify where you’re overspending and start a concrete plan for cutting back. Also, figure out whether there are ways you can bring in more money. I’ll delve into that in a moment.
- Step 3: Give back. “Pay your tithe, do not be late, tomorrow maybe late, pay your tithe.” We’ve heard that song a million times but how many of us actually do it? It’s important that before expecting to receive from God, we need to give to God.
If you’re positively broke and haven’t got a penny to your name, give by helping someone in need, volunteering or feeding the homeless. There’s so much you can do. And by the way, a lot of us say we can’t give back but we’re the same people renting a fancy car so we can look slick at some random person’s wedding.
Yes, I’ve seen you! There’s always a way to find or create the money needed to do Godly deeds and give back to Him. Always give to those less fortunate, Jesus preached about this a thousand times but so few Christians actually do it. Invest time and money in helping those in need and acting as Christ did in everything you do.
My final piece of advice is to never rely on one source of income. I remember reading that the average millionaire has seven streams of income. SEVEN. That’s seven ways he or she brings in money every month. If you’ve been relying just on your day job to meet your financial needs then you need to make some changes. A job doesn’t guarantee wealth and relying on a 9-5 to meet all of your financial needs isn’t smart.
What happens if you’re made redundant or are sacked? Remember, God gives us wisdom to have abundant lives and with that wisdom we can and should multiply the fruits of our labour by doing some or all of the following:
Investing: Whether that’s by gaining shares in a growing company or learning to trade. Think about putting a small amount of money aside towards investments. Of course, be smart about it and do your research before making the leap.
Saving: Set aside 10% of your income each month and plop that money into a savings account. Once 10% feels comfy, up the amount to 20% and so forth. You’ll be amazed at how much you’ll save over a year.
Have a side hustle: Whether it’s writing books or flipping Poundland items on eBay, start a side hustle so that you can always have that extra bit of money each month. If you do nothing at all, pray that God will direct you and lead you to the right path not just financially but spiritually as well.
Author: Victoria Ademosu
This guest post was written by Victoria Ademosu. Victoria is a best-selling education author, award-winning entrepreneur and the founder of TheTutoress.com