In a recent article in MoneyTalksNews titled “8 Reasons Why You Are Getting An F In Personal Finance”, Len Penzo shared several factors that can lead to financial failure. Following are the reasons he listed in his article: (1) You don’t have an emergency fund, (2) You don’t know how much you have in your bank accounts, (3) You don’t understand the difference between a want and a need, (4) You don’t know how much money you spend, (5) Your tastes exceed your spending capabilities, (6) You can’t say no, (7) You’re an impulse shopper, and (8) You worry about what others think about you. You don’t have to be a financial wizard to see the wisdom in the words that Penzo writes. Fiscal freedom isn’t rocket science! If I want to avoid financial ruin, I need to be prepared, aware, informed, and disciplined. It really is as simple as that!
I would add one more reason to Penzo’s list of contributing factors to financial failure: (9) You are leaving God out of your financial plans and decisions. While I’m confident that my financial health is not God’s primary concern in my life, He does take an interest in how I handle money. “But those who want to get rich fall into temptation and a snare and many foolish and harmful desires which plunge men into ruin and destruction. For the love of money is a root of all sorts of evil, and some by longing for it have wandered away from the faith and pierced themselves with many griefs” (1 Timothy 6:9-10). “Make sure that your character is free from the love of money, being content with what you have; for He Himself has said, "I WILL NEVER DESERT YOU, NOR WILL I EVER FORSAKE YOU" (Hebrews 13:5). “Beware, and be on your guard against every form of greed; for not even when one has an abundance does his life consist of his possessions” (Luke 12:15). Let God help you improve your finances. His advice is free!
God loves you!
Mike
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