There are many references in the
Bible regarding the importance of
money. However the Bible also
warns us about coveting after
money, which is the root of all evil.
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For wisdom is a defense as
money is a defense, But the
excellence of knowledge is that
wisdom gives life to those who
have it. (NKJV)
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A feast is made for laughter, And
wine makes merry; But money
answers everything. (NKJV)
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1 Timothy 6:10
For the love of money is a root of
all kinds of evil, for which some
have strayed from the faith in their
greediness, and pierced themselves
through with many sorrows. (NKJV)
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'The silver is Mine, and the gold is
Mine,' says the LORD of hosts.
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1. The Importance of Money in
a. Money is the medium of
exchange for everything
b. As long as we live in this world,
it is indispensible
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2. Attitude to Money in the Home
a. Discuss money openly. Aim at
everything, especially in money
b. Avoid selfishness.
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c. Note that you both are the
stewards of God’s money.
i. Spend it according to God’s
wishes and God’s Word.
ii. You are accountable to Him
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d. Manage your finances properly
by budgeting. These are the areas
that can guide you.
God first ( first fruits (tithes),
Savings or some investments.
Addressing your NEEDS, not
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Extra (miscellaneous) to afford
bills, remittances, blessing
Buying food in bulk saves
money and reduces financial
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3. Understand the Reality of Money in
a. The mode of its operation must
be discussed and mutually
b. The husband must not be
detached from realities while the
wife must not also be prodigal in
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4. Understand Financial Headship
a. Headship of the home extends to
finances as well. Therefore, no
matter who earns more, the man
must rule the finances of the home
with wisdom and fairness.. He
must have a clear vision or
foresight for the home to better of
the family, e.g. plans to own a
home someday.July 23, 2013 13
b. As a financial head, he must
avoid stinginess, meanness, and
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5. Avoid Lack of Money
Lack of money must not be a
permanent situation in the home. It
is important to be mindful of the
potential problems associated with
lack of money, such as tension,
mistrust, suspicion, etc. These should
not necessarily occur in your home.
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6. Know the Danger of Covetousness
This condition normally arises
when wives/husbands compare
their property or children with
those of others. It leads to:
Dissatisfaction in the
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Unreasonable demands being
Borrowing to maintain a certain
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7. Know the Dangers of Comparison
a. Don’t compare yourself with any
2 Corinthians 10:12
For we dare not class ourselves or
compare ourselves with those who
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But they, measuring themselves by
themselves, and comparing
themselves among themselves, are
not wise. (NKJV)
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b. Accept realities in life. Don’t
keep yourself away from realities.
People under you will suffer as a
result. Be an informed person.
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The following percentages will
give you good rule of thumb for
what you should be spending as a
percentage of your income on
some of the major budget
1. 25% - Housing
Spend not more than 25 % of net
income on housing. That includes
mortgage or rent, insurance and
2. 25% - Food
All food components including any
snacks, used by the individual or the
entire family must not exceed 25%
3. 10%- Clothing
All issues of clothing including salon
and the barber.
4. 10% -Transportation .
Spend no more than 10% of net
income on transportation. That
includes car payments, motor
insurance, license, maintenance, fuel
and parking, matatu fare, etc
5. 5% - Relatives
We cannot ignore our relatives as
this is our social responsibility. Set
aside 5% to facilitate the relatives.
6. 5% - Health and Education
Spend no more than 5% of net
income on this. When you young, use
5% or more on developing your career
. As you grow older you will need to
spend this money on your health.
7. 5% - Services
Spend no more than 5% of net
income on this. This includes
telephone, water, electricity, gas, etc
8. 5%- Domestic
i.e. House help or caretaker. The
people who work for you must be
taken care of properly since they take
care of you, your family and property.
9. 10% - Savings/Investments
This is the amount that can
transform your future particularly if
it is invested.
Save/invest at least 10% of income
throughout your working life.
When you are young, you boost
your savings/ investments to higher
levels by forfeiting some things
that are not very important. In my
mother tongue we say that as you
age, you will depend on you had
invested when you were young.
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DON’T EAT EVERYTHING AS YOU
WILL REGRET LATER ON IN LIFE.
The key word here is INVEST.
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