4 Steps to Fix Your Finances

In life, MARGIN is the amount of space we create so we’re not living on the edge.

Margin Principle: Those who have no margin in their life are living on the edge and eventually something’s going to push them over it.

The closer you are to the edge, the easier it is to push you over it. The further you are from the edge, the harder it is to push you over it.

3 Ways to create margin in your schedule in order to reduce the stress in your life:
1. Keep the Sabbath.
2. Learn to say NO.
3. Plan for ALONE TIME.

Margin in your finances:
MARGIN is the extra room you leave yourself for the unexpected. It’s the money you’ve been taking out of every paycheck and saving in case of an emergency.

The difference between what you make and what you spend is your MARGIN.

Principle: If you don’t have any margin in your finances, you’re living above your means (you’re living a lifestyle that your income can’t support).

Why do people get themselves in financial trouble?
1. They want to keep up with the Joneses.
2. They want to impress others.

How to create margin in your finances:
1. Spend less than you earn.
2. Save what you don’t spend.

4 Steps to Fix Your Finances:
1. Tithe 10%.
2. Pay yourself 10% before you pay anyone else.
3. Pay your bills.
4. Spend the rest on whatever you want.

Afford: to have the financial means to pay for something without placing yourself at risk.

To create margin with your family:
1. Be home with your family at least 3 nights a week.
2. When you’re home, spend quality time with your spouse and children.
*Eat dinner at the table.
*Do devotions when you tuck your kids into bed at night.

Exodus 18:14, 17, 20:8-10; Luke 5:15-16; Ecclesiastes 3:13, 4:4, 9:10; Proverbs 12:9, 21:20; 2 Corinthians 12:14; Romans 13:8

This post is taken from the series Leadership in the Home. To learn more, watch below!