Deut.8v18: And you shall remember the Lord your God, for it is He who gives you power to get wealth, that He may establish His covenant which He swore to your fathers, as it is this day.
You are welcome back to our discussion on the subject of economic empowerment. I have shared so far with you some of the secrets of economic empowerment and I believe that you are being blessed by the things we have shared so far. It’s God’s will for you to prosper economically as we can see from (Deut.8v18). Today by his grace, I will be sharing with you another powerful instrument that will help you to prosper financially. So without much ado, let us examine this powerful key right away.
HOW TO PROSPER ECONOMICALLY
4. Develop a savings culture. What do I mean by this, I mean you need to become a frugal person? My dear brothers and sisters, do you know that developing the habit of saving some percentage of your income or revenue can help you become financially independent? Yes, this can be a reality in your life when you imbibe the culture of saving regularly. I want you to know that if you cannot save, then you are not safe. A savings culture is crucial to achieving economic empowerment and you know that a savings culture also has a lot of advantages, some of which are as follows:
– It prepares you for the rainy day. If you don’t want to be beaten by the rain, then you need to prepare for the rain before it falls. This is what a savings culture helps you to achieve. (Eccl.7v14).
– It helps you to grow your financial net worth over time. By investing in some mutual funds with good turnovers. So a savings culture, therefore, will help you be a better investor.
– It opens the door to increase and abundance. Because it helps you become a prudent manager of resources. Without being prudent, there is no how you can achieve financial independence (Pro.21v20; Lk.16v10-12).
– It also helps you to manage your spending habits. When you become a saver, it helps you to cut down on your expenses, so this is why you need to embrace this culture (Lk.15v11-13).
– It helps you to tap into the power of compound interest over time. The power of compound interest was called by the great John D. Rockefeller as the eighth wonder of the world. For instance, if you save ₦100 per month throughout your working lifetime and invest that money in an average mutual fund at 10% per annum, you will be worth over 1 million naira when you retire. This is the principle of a simple, powerful, and wealth-building tool known as the power of compound interest and it’s time for you to engage this principle to your advantage.
– It also helps you develop a culture of delayed gratification. This is a very important tool that you need to incorporate into your life if you really want to be economically free. If you are the kind of person who buys things on impulse, you will never really become financially free, but when you engage the power of a saving’s culture, it helps you push the day of gratification until the future. This is one of the best things that can happen to your life if you will be financially free.
– It also helps you to become financially prudent. This is a fundamental principle that you need in your life if you’re going to overcome waste. Many people are not financially independent because there’s a lot of wastage in the way they spend and use money. They suffer from abuse of money that is why they never break free financially, but I see the tide turning in your favour from today as you embrace the culture of saving (Matt.25v14-30). My dear brothers and sisters, I believe you can see why you need to imbibe the culture of saving into your life if you really want to be economically free. The power is in your hands today, so what are you going to do about it, it’s time to imbibe this culture into the way you spend every time so that you can enter into your financial heritage by developing the fruit of self-control in your life and operations. I pray that you will get there in the name of Jesus Christ.
Other Scriptural References: (Gal5v22-23; Prov.23v2; 3;1Cor.6v12 :9v27; Prov.21v20: Jn.6v12; Matt.25v2-13; Lk.16v1-7: 19v12-27).
Prayer for Today: Holy Spirit, please help me develop the spirit of discipline through a savings culture in my life today in Jesus name.
CONFESSION: Imbibe the culture of savings into my life from today I am a saver and not just a spender. I am a super saver and not a waster I use my money judiciously and by the grace of God, money multiplies in my hands. I am a good manager of financial resources therefore, I am a master over many. My days of living from pay check to pay check are over because I am a super saver and I am on my way to greatness and glory in my financial life. Glory be to God in the highest. This is my testimony and my song in Jesus mighty name.
Yemi Adeoti is a pastor, teacher, life coach and mentor & also a prolific writer.
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