Wealth: Is the measure of the value of all the assets of worth owned by a person, community company or country.
Our financial well-being is not only demonstrated through budgeting, but we must also maintain spiritual health in order to grow in wisdom and understanding.
Let us continue to examine a few key elements of wealth as we continue to build our financial plan.
Currency: Tokens used as money in a country. In addition to the metal coins and paper bank notes, modern currency also includes checks drawn on bank accounts, money orders, travelers checks, and electronic money or digital cash.
The Purpose Driven Life, by Rick Warren is one resource we will utilize as we continue to create our financial plan. We understand that God gives us wisdom, understanding and guidance to create wealth, sustain it and utilize our resources for good. However, wealth does not solely consist of financial well-being. Let us first examine the basic definition of wealth.
Wealth: A measure of the value of all of the assets of worth owned by a person, community, company or country. Essentially, wealth is the accumulation of resources which is expressed in a variety of ways. An individual’s wealth is most common expressed by net worth, and countries by gross domestic product (GDP).
We understand the importance of vision, passion and purpose, but oftentimes many people struggle with identifying one’s purpose. There are many things in today’s society, that can distract us from following our God-given purpose. We’re are saturated with information, content, distractions and shiny objects, however, in order to understand one’s God-given purpose one must seek God. The Purpose Driven Life, by Rick Warren is one resource that has helped me in the past in understanding my God-given purpose.
It is important to remember that in order to create wealth and sustain it, one must have a clear understanding of who you are. We must seek Him, the God who created all things, in order to find fulfillment. He gives us the wisdom, understanding and guidance to handle wealth, sustain it and utilize our resources for good.
The blessing of the Lord, it maketh rich, and he addeth no sorrow with it. Proverbs 10:22
Identifying one’s vision, passion and purpose is essential prior to creating a financial plan.
Where there is no vision, the people perish; but he that keepeth the law, happy is he. Proverbs 29:18
When we consider this scripture reference, it is important to identify where we are and where God has purposed for us to be. When we are able to identify where God has called us to be, through faith, we can overcome trials and obstacles that may to seem insurmountable.
For example, if we do not have a vision for our lives and are not anchored in a solid foundation, we may be easily moved by unexpected circumstances and situations that may attempt to derail us from our purpose. It is important to take the time necessary to identify and understand these three elements prior to creating a financial plan.
In order to create a financial plan one must have a goal, develop one’s vision, have passion and understand one’s purpose.
The Bible, which is the greatest book ever written tells us to “Write the vision and make it plain on tablets, that he may run who reads it.” Habakkuk 2:2-3.
When you take the time to create a financial plan it will help you understand where your money is going, which will help minimize debts and increase cash flow. We will provide you with the tools and resources you need to help you create a financial plan.
In order to create a financial plan one must understand what a financial plan entails.
A financial plan is an evaluation of an investor’s current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans.
We recently released our series Financial Planning, which provided a financial blueprint in order to create an investment portfolio. We will provide content from this series to help you build a financial plan.
Planning for the future is an important step to ensure future happiness and success. It is about taking responsibility for your actions.
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