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FAMILY FINANCE

Facts on Financial Freedom 1

By James O. Gbolagoke

Finance is a major and important factor in every successful family. Most of separation, distrust, quarrel and divorce are the outcome of lack of financial freedom in the family

Financial Freedom Defined

Financial freedom means freedom from debts. It means more income than expenditure for the family which enables you to fulfil the fatherly leadership and motherly support within the family.

The financially free family will have enough money to meet the basic necessities of life (e.g. food, clothing and shelter). Hence, the family is well established in the household of faith. "If anyone does not provide for his relatives, and especially for his immediate family, he has denied the faith and is worse than an unbeliever." (1 Timothy 5:8).

Facts Of Financial Freedom

  • If you are not financial free, you are not free indeed.
  • f you are not organised financially, you are truly disorganised.
  • If you don’t control money, money will control you.
  • Your biggest idea cannot succeed without money.
  • If you are financially reckless, your life will be a wreck.

Causes Of Financial Bondage

First, sin such as adultery, fornication, drunkenness, wickedness, etc. in the lives of the members of the family is a sure way of enslaving family with the spirit of poverty or bondage

Second, laziness is another source of financial bondage. Proverbs 10:4 says, "Lazy people are soon poor, but hard workers get rich." (New Living Bible).

Third, disobedience to God in a family will make the family to be poor. "If you fully obey the Lord your God and carefully follow His commands that I give you today, the Lord your God will set you high above all nations on earth: And all these blessings will come upon you, and accompany you, if you obey the Lord your God" (Deuteronomy 28:1-2).

Fourth, lack of planning and vision destroys the chances of a family to be financially free. A family who fails to plan for the number of children to have, how and when to do certain things like buying a car or building a house, budget for their income and expenditure will surely find itself in financial bondage.

Fifth, stinginess and tight fisting may make a family penniless, Proverbs 11:24 says: "One man gives freely, yet gains even more; another withholds unduly, but comes to poverty."

The mystery and the secret of prosperity, according to the Word of God, is found in giving. Jesus Christ Himself commanded it in Luke 6:38 "Give and it will given to you; good measure pressed down, shaken together, and running over will be put into your bosom. For with the same measure that you use, it will be measured back to you" (NKJV).

Sixth, spend rift and wastefulness is another cause of financial bondage. This reason is very common in our generation today. We waste much of our resources on useless things that add no value to the family well-being. For example, some family will borrow in order to throw lavish and extravagant party for their dead great grandfather and other societal functions. This may lead to financial bondage.
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