MEMORY VERSE: “The wisdom of the prudent is to understand his way: but the folly of fools is deceit.” – Proverb 14:8 (KJV)
BIBLE PASSAGE: Luke 19:12-26 (KJV)
LESSON INTRODUCTION: Simple put, financial intelligence is to be financially wise. It is the knowledge and skills gained from understanding finance and accounting principles in the business world and how money is being used (Proverbs 18:15). To be highly successful, extra efforts, skills, intelligence and God’s leading will be needed. It is not only organizations and business owners that need financial intelligence. It is also needed for personal finance.
LESSON OUTLINES:
- WHAT IS PERSONAL FINANCE?
- HOW TO BE FINANCIALLY INTELLIGENT
- WHAT IS PERSONAL FINANCE?
Personal finance is the term that covers planning (Proverbs 21:5; 30:25) and managing personal financial activities such as revenue generation, expenditures, budgeting, savings, investments and other financial related actions (Matthew 25:20). As an individual, your personal finance is a reflection of the level of your financial intelligence, that is, your ability to make smart decisions, plan poverty especially in the aspect of finance and live a good life (Proverbs 10:4). Your net worth and what you are able to do with your money is considered a success (Matthew 25:22) and not necessarily so much cash at your disposal. A personal financial statement (Assets-Liabilities) shows the sold and all debts paid, and the liabilities are greater than the assets, the financial statement indicates a negative net worth. But, if the individual has more assets than liabilities, it is positive net worth.
- HOW TO BE FINANCIALLY INTELLIGENT
To be financially intelligent, you need to do the following:
- Develop a personal success- drive and be intentional about the wellbeing of your finance (1Kings 11:28).
- Seek knowledge and be informed (Proverbs 1:5). Invest in yourself (Proverbs 19:20), read (2Timothy 4:13), make researches (Act 17:11), ask questions, and open your ears and eyes to the happenings around you.
- Practice what you learn and use the knowledge gained to execute the purpose for which it was acquired (Proverbs 6:6; 10:4).
- Keep track of your spending. Identify where you need to make amends and where you need to intensify efforts (Proverbs 16:21a).
- Have a proper and detailed records of your income and expenditure (2Chronicles 34:16-18).
- Surround yourself with the right people who share the same opinion (Proverbs 13:20; 27:17).
- Pray for divine wisdom and direction on what and when to invest your resources (James 1:5; Isaiah 30:21).
CONCLUSION
Financial intelligence is needed in order to stay on top of your financial game because hardly would you find a financially intelligent person who is not successful.