Money Management Tip:

Throughout scripture, we can clearly identify five separate financial principles that can be applied to our own situations.‍..Continued 3/5 (follow along our money management posts/see our previous posts)⁣
1st: Spend Less than you Earn. (Oct 30th post)
2nd: Be wise with Debt (Nov 27th post)

3rd: Plan for financial margin.
Who’s had to make an unexpected car or home repair? What about medical/health changes that require additional expenses? When we fail to build liquidity for short-term emergencies, we are creating a crack in our financial foundation. This principle applies to having a solid emergency fund and being properly insured with health, life, and disability insurance. Proverbs 6:6-8 states, “Go to the ant, you sluggard! Observe its ways and become wise. Without leader, administrator, or ruler, it prepares its provisions in summer; it gathers its food during harvest.”

Start by saving a realistic amount
It can take months or years to reach the desired amount for your emergency fund. It’s better to start with a small amount so that you don’t get discouraged.

Start by figuring out what you can put aside every week. Whether it’s $50, $20, $5 or some small change, the important thing is to start right now. Ideally, you should try to save the equivalent of 3 to 6 months of your regular expenses. You can also aim to save 3 to 6 months of income. Both methods work, so choose the one that is easier for you.

Saving a small amount regularly can make a big difference in the long term. If you don't have an emergency fund started, there is no better time than now to start.