Write It Down!

Proverbs 27:^23-24 “Riches can disappear fast. And the king’s crown doesn’t stay in his family forever—so watch your business interests closely. Know the state of your flocks and your herds” (LB, emphasis added).

So far, we have seen three laws of financial traction. The first is The Law Of Ownership. The second is The Law Of Tithing. And the third is The Law Of Investing.  The fourth law of financial traction is The Law of Accounting: KEEP GOOD RECORDS! Write things down. There are a lot of applications available these days that make it easier to keep track of your finances. Just do a basic search and you will find quite a number of such apps. Have you heard people say, ‘I had a lot of money, but I do not know where my money went’? That shows that such people are violating the law of accounting.

You need to write down your expenses or use the available tools to keep track of your spending. The truth is that it is a lot easier these days. If you spend digitally, you should be better equipped to keep track of your spending. But if you are one of those who keep their money under the matrass, then write it down. Proverbs 21:⁵ “Plan carefully and you will have plenty; if you act too quickly, you will never have enough.” (GNT, emphasis added). If you plan carefully, you will have financial traction. Therefore, you need to know what you own, what you owe, what you earn, and where it is all going. Get a grip!

Proverbs 27:^23-24 “Riches can disappear fast. And the king’s crown doesn’t stay in his family forever—so watch your business interests closely. Know the state of your flocks and your herds” (LB, emphasis added). Some people are ‘lazy’ investors, they are not bothered about their investments. However, the Word of God says ‘watch closely‘. Proverbs 23:⁵ “Your money can be gone in a flash, as if it had grown wings and flown away like an eagle.” (GNT). Keep good records, it is the principle of accounting. If you have a business, you can keep good records with basic book-keeping. Just keep records, open a journal, and write down how much has come in, how much has been spent, etc. Just keep track of things.

The fifth law of financial traction is The Law of Budgeting: PLAN YOUR SPENDING. Proverbs 21:⁵ “Plan carefully and you will have plenty; if you act too quickly, you will never have enough.” (GNT, emphasis added). We have all bought items we regretted buying. But if you want to have financial traction, you need to stop it. You need to take charge of your finances. Plan your spending; do not just have a budget, live on it. If it is not on your budget, do not buy it!

Prayer: Father, I ask for the grace to consistently keep good records and plan my spending, to plan carefully and watch my investments carefully, in Jesus Name. Amen!