Managing And Multiplying Your Money

Pastor Sam Adeyemi

Luke 15:11-16, Matt 25:20-30, Prov. 21:20

Introduction

A sage once said: “A part of all you earn is yours to keep.” The habit of spending all you earn is not wise and should be discouraged as much as possible. Money should be managed in such a way that it can meet the needs without jeopardizing future opportunities. To achieve this, you must develop the discipline of saving some of your income in order to make your money work for you and thus multiply itself. This way, you establish a foundation for sustainable wealth creation and ride on the sure path to financial freedom. Today, the focus of our discussion will be to examine how best to manage and multiply monies we earn as a veritable means of growing wealth on a continual basis.

Discussion

1.      Statistics show that most people do not have savings. Can you identify why it is difficult for you to save?

2.      A savings culture is the first step towards wealth creation.

The following are ways to manage and multiply finances;

Ø  Develop the discipline of saving a pre-determined percentage of your income.

   Ø  Be a careful and steady planner. Make a budget before spending (Prov 21:5)

Ø  Get advice or get wisdom from experienced financial experts, mentors, and your spouse.

Ø  Know your risk level. Take calculated risk (Lk 14:28-30)

Ø  Diversify your investments (Eccl 11:1-2) Do short and long term investments.

Ø  Make compound interest work for you. Find out how.

Ø  Avoid get-rich-quick schemes. Do not gamble with your money (Eccl 5:13-16).

And others.

Conclusion

Poor people work, whilst the rich make their money work for them. As you save your money, it is important that you learn how to multiply it. Wealth creation begins with the habit of controlling one’s expenditure and spending less than one’s income. Different ways by which we can multiply how monies invested include dividends from shares, interest from savings, royalties from creative works or ideals, rents from properties, profit from direct business enterprises, etc. as you do these, you would have created a structure to translate you into higher plane of enduring wealth.

You will succeed in Jesus’ name.