Introduction:Finances are not math based even though that act is dealing with numbers. Here are some stewardship guidelines for good money management every month that will prove effective for one or an entire family. There are many more directives than just this list, however these will begin a foundation for thought.
Learning about finances is all through the Bible. Many books of the Bible talk about the way to be better stewards as God would have His fruits spent. There are several other books that will direct people in proper education about finances through all the different times of life. Jerry Robinson is a trusted person to use his educational material in a book titled "Bankruptcy of Our Nation". Larry Burkett, even though he has passed away has some very valuable information in his numerous book publications. Education about finances is paramount to any planning for anyone. Learning is a process and changes can be made to fit the individual.
Savings is paying oneself for the work that has been done each month. This can be considered one of the monthly requirements beginning small with a 1% put aside and progressing to 15% as money permits. When that great deal on a big ticket item is before you, these savings can be a down payment. These financial choices of saving a little can actually accrue to a tidy sum in a very short period of time when they are not touched for the routine expenses of life. Start small rather than overpower your requirements and not be able to stick to your plan.
Planning for the future can involve many parcels requiring some of the money you set aside for your future. These funds might be a small amount at first, but with each bonus or raise, you will see these areas all grow with your future looking brighter because you decided to plan on the future with this financial decision. At first consider the money you have to separate it out as suggested here.
Investments might be labeled 1/3 for emergencies, 1/3 of the monthly funds to go through ways to plan other streams of income and 1/3 put into solid precious metals that can easily be liquidated if needed.
Unless you plan a charitable giving, it won't happen on it's own. When left until there are funds to give away, they will be spent before they arrive where charity is needed. Your monthly plan will greatly affect many things in life beyond what can be imagined. The charity you extend will have many rewards even if a person does not know about your personal giving in their direction. Search out your heart's desire for a charity and do adequate research to successfully select a charity for yourself. The link below for Charity Navigator will be a valuable source to use.
Caution should be thought on IRA and 401 K since these plans belong to the government not you. The taxes can be thrown on them for any amount when they are cashed in or withdrawn from anytime that action occurs.
Roth IRA is a good direction. With this there is a tax free no distribution fee attached. If you are 15 years out of retirement contribute to investments in this way. If you are closer than that fifteen years look to other areas to invest. The choices can be seen in so many areas, so do your investigating before you settle on one way, since you might be wise to search and then choose more than one. This will give you some time to see how your investments are performing.
select one here...