Keep Track of the Money
Unless we keep track of the money, meaning our money, there’s no way of knowing where it is going. What we’ll realize before month’s end is that our money didn’t stick around long enough to meet all of our expectations or obligations. When we fail to direct our dollars, we wind up scratching our heads wondering where hey went and how we’re going to make ends meet until we get our next pay check.
Pastor Rick Warren said, “Ignorance of your financial condition plus easy credit equals disaster. You’ve heard the phrase, ‘Money talks.’ It does not. It just walks away quietly, and it doesn’t tell you where it’s going.
Keep track of the money and it is our friend. Here’s a way to start tracking dollars:
- Know what you already own: What is the balance in the bank account? Home equity, car, bicycles, tools . . .
- Know what you owe: consumer credit plus month-to-month bills and food, medical, entertainment, clothing, school needs . . .
- Know how much money is coming in each month: wages, retirement monies, inheritance . . .
- Track where the money is spent: Write down every dollar that’s spent for at least 30 days; preferably 90 days. This is something the whole family can participate in. Young people need to learn money management long before they leave home.
- Create an emergency fund to cover the unexpected but only tap into it if there is a real emergency. This money is not meant to be spent on fun.
Proverbs 23:5 Cast but a glance at riches, and they are gone, for they will surely sprout wings and fly off to the sky like an eagle.
Ignorance of our finances cannot bring good to us and our families. Be wise. Track those dollars. Tell them where to go and reap the blessings.
