There are many answers to this question. For some it’s as simple as covering your standard of living on the field and while on furlough. Others need a little “what-if” money. Still others like financial assets at work for their future. But the money itself is just a means to what it can do for you and your family…financially, physically, emotionally, and spiritually.
What would happen to your family if one of you didn’t wake up tomorrow morning? Or became severely disabled?
Do you need or want to educate someone? How much will that cost? Why is that important? When will that be?
Although “retirement” is not mentioned in the Bible, do you see yourself leaving active ministry at some point? Why? And what will you do? How much income will you need?
Will you be expected to support your parents at some point…or will you need funds to fly home for family needs? What if they need long-term care or you do later on? Who will that involve?
Is your legacy to your family important—as you live, grow older, leave your estate?
You fill in the blank_________________. (Security, financial emancipation, on-going charitable involvement) as to what else may be important about money to you.
Are you so busy with today’s demands that long-term planning is not even on your radar screen? TIME can work for you or against you financially. Considering these questions may seem overwhelming and confusing as to what to do first. Often you can handle bite-size action steps more adequately than trying to address everything at once.
Prudent planning ensures that the most important things get priority. There are five main levels that will address specific areas of consideration for your family financial plan. Future articles will give detail regarding each step.
Why should you, a global working woman, know about money?
- Approximately 80 percent of women will be solely responsible for finances at some time.
- Women live seven years longer than men on average.
- Women spend less time in the paid work force than men.
- On average, women earn less than men.
- Consequently, women’s retirement income is often lower than men’s.
- Half as many women as men receive pension benefits.
- 75 percent of elderly poor are women.
- The average at which a widow loses her husband is 56.
Why is it that many women are excellent managers of household incomes for short-term needs but are not involved in major long-term financial decisions?
Rise up, O women of God and take action to get your financial houses in order!
You know that scripture contains lots of information on the subject of money. There is nothing in the concepts that will follow that contradicts God’s word.
As believers, we walk a fine line between faith and providing for ourselves. Only you can determine how God wants you to walk that line. May He alone be praised if any of these ideas spark a readiness in you to be the very best steward He would have you to be.
Proverbs 24:3: “By wisdom a house is built, and by understanding it is established.”
View the original print magazine where this article was first published.