PRINCIPLES OF FINANCIAL MANAGEMENT IN A CHRISTIAN HOME
Authors:
AKPA Victoria
Publication Type: Journal article
Journal:
ISSN Number:
0
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Abstract
Money is the root of many marital problems. Regardless of how much money people make, financial issues are the most common stressors for couples and families across the life cycle, usually leading to conflict in the marriage or family. It is surprising that many Christians are clueless regarding the basic principles of Christian financial management, in spite of the abundance of information and guidelines that God has provided for effective financial management in Christian homes. This study proposed six principles that could enhance more effective financial management in Christian homes. They are as follows: (1) put God first; (2) decide whether or not to pool family money; (3) decide on who makes the spending decisions; (4) decide to make a spending plan (budgeting); (5) live within your means; and (6) save for the rainy day. These six principles would be effective in a Christian home only when all family members are committed to them and work toward making them work operational in their homes.