MANAGING FAMILY FINANCES IN TIME OF RECESSION

MANAGING FAMILY FINANCES IN TIME OF RECESSION

Bisi Adewale

“And I will put my spirit within you, and cause you to walk in my statutes, and ye shall keep my judgments, and do them.
And ye shall dwell in the land that I gave to your fathers, and ye shall be my people, and I will be your God.

I will also save you from all your uncleannesses: and I will call for the corn, and will increase it, and lay no famine upon you”
Ezekiel 36:27-29

— What is Recession?: A recession is when the economy declines significantly for at least six months. That means there’s a drop in the following five economic indicators:

— GDP: Gross domestic product: (GDP) is the monetary value of all the finished goods and services produced within a country’s borders in a specific period of time.
— income,
— employment,
— manufacturing,
— and retail sales.

— Bible refer’s to recession as famine.
Genesis 45:6 KJV
For these two years hath the famine been in the land: and yet there are five years, in the which there shall neither be earing nor harvest.

5 KIND OF RECESSIONS

1) <> GLOBAL
Luke 4:25 KJV
[25] But I tell you of a truth, many widows were in Israel in the days of Elias, when the heaven was shut up three years and six months when great famine was throughout all the land;

2) <> NATIONAL
2 Kings 6:25 KJV
[25] And there was a great famine in Samaria: and, behold, they besieged it, until an ass’s head was sold for fourscore pieces of silver, and the fourth part of a cab of dove’s dung for five pieces of silver.

3) <> FAMILY
Genesis 42:33 KJV
[33] And the man, the lord of the country, said unto us, Hereby shall I know that ye are true men; leave one of your brethren here with me, and take food for the FAMINE OF YOUR HOUSEHOLDS and be gone:

4) <> PERSONAL
Psalm 33:19 KJV
[19] To deliver their soul from death, and to keep them alive in famine.

5) <> WISDOM AND THE WORD OF GOD
Amos 8:11 KJV
[11] Behold, the days come, saith the Lord God , that I will send a famine in the land, not a famine of bread, nor a thirst for water, but of hearing the words of the Lord :

FACTS 1
YOUR FAMILY CAN ENJOY SURPLUS IN FAMINE
Jeremiah 14:13 KJV
Then said I, Ah, Lord God ! behold, the prophets say unto them, Ye shall not see the sword, neither shall ye have famine; but I will give you assured peace in this place.

FACT 2
You will need divine wisdom and knowledge to enjoy surplus in famine
Proverbs 24:3-4 KJV
[3] Through wisdom is an house builded; and by understanding it is established:
[4] And by knowledge shall the chambers be filled with all precious and pleasant riches.

FACTS 3
YOU CAN ENTER DEPRESSION DURING RECESSION OR TURN OUT TO BE A DISTINCTION
Genesis 26:12
Then Isaac sowed in that land, and received in the same year an hundredfold: and the Lord blessed him.
HOW TO PROTECT YOUR FAMILY FROM RECESSION
1) KNOW THE 4 M’s OF MONEY
Proverbs 11:9 KJV
[9] An hypocrite with his mouth destroyeth his neighbour: but through knowledge shall the just be delivered.

M 1: MAKING MONEY
You nee to learn how to make money better during the recession.

M 2: MASTERING OF MONEY
You must improve your Financial Intelligence
Learn how to control money, never allow money to control you, money is a good servant but a bad master IF MONEY RULES YOU, IT WILL RUIN YOU.

M 3: MANAGING OF MONEY
Proverbs 27:23-24 KJV
[23] Be thou diligent to know the state of thy flocks, and look well to thy herds.
[24] For riches are not for ever: and doth the crown endure to every generation?

Know how to manage your resources rightly.
Save part of your resources
Be a seed sower

M 4: MAXIMIZING OF MONEY
Turning your money to seeds to generate more money leading to a bountiful harvest.

2) MIND REPROGRAMING FOR INFLOW
Proverbs 4:23
Keep thy heart with all diligence; for out of it are the issues of life.
A marriage counselor once asked some set of couples this thought provoking question:

Do you think you can be rich, retire and die rich?
The majority of the answer was NO! To the question

When he asked them why they all have reasons when they can’t be rich, they all have somebody or some situations to blame for this but not themselves.

Unless you change your mind that you can make it, you will be in recession even when the nation get out of it

3) CLOSE THE BACK DOOR OF YOUR FAMILY FINANCE
Proverbs 21:20 KJV
There is a treasure to be desired and oil in the dwelling of the wise, but a foolish man spendeth it up.

— We need to change our Attitude to money and close the back door of our family finance.

— STOP RAIN SPENDING
We spend money like rain water when we get it and live to suffer when it is no more available

— Learn to spend rightly and wisely
Will Smith Said: “Too many people spend the money they haven’t earned, to buy things they don’t want, to impress people they don’t like”

— Stop spending to impress people
— Stop Spending to oppress people
— Live your life for the future
— Don’t live above your means
— Don’t live within your means
— Live below your means

4) BUILD A BETTER MARRIAGE AND STAND TOGETHER IN UNITY
Ecclesiastes 4:9 Two are better than one; because they have a good reward for their labour.
— Bad Marriage is very expensive
— Unity eliminate waste and lead to synergy
— Stand in Unity with your spouse
— Spend together, plan your finances

5) TRUST GOD AS IF YOU DONT NEED TO WORK HARD, WORK HARD AS IF YOU DONT NEED TO WORK HARD
Proverbs 3:5 KJV
Trust in the Lord with all thine heart; and lean not unto thine own understanding.

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