Financial Insight by Chris Bunton
First, I want to say that I am not wealthy. At least I do not see myself as such. I am not a financial expert.
But I currently do not live pay check to pay check barely scraping by like I used to, and like millions of people currently do. I am not one accident away from homelessness.
So I want to give you some tips on what I did to get a little bit ahead.
I had made a lot of bad choices in my life that left me utterly broke, in debt and homeless. I had nothing. And I mean nothing.
But, I had God who I believe helped guide me through. That’s the first thing to settle. Because often times our physical situation is caused by, or the result of something spiritual. When we turn our minds toward the spiritual. The things of this world grow increasingly less important, and our finances will reflect that. Our behaviors and desires change and we spend less money, or spend it on things that are beneficial instead of waste.
God led me to a job. It was a simple custodial job; nothing fancy. But I worked hard and humbled myself. Without an income you cannot succeed. You need money coming in.
Next, I started studying finances. I read books and listened to tapes, and admitted to myself that I was ignorant on these subjects, and was very surprised that my public school education did not prepare me for real life. I could figure out pi. But not how to live? (This is a different subject. Let’s stay on course.)
Through my readings I learned two of the most important things that have helped me so far. First, I worked to get out of debt. And to avoid debt. I might not look flashy. But, I have what I need, and a lot of what I want. Thank God.
The second thing comes from a book called “The Richest Man in Babylon” by George S. Clason
Now this book taught several things but what I want to focus on is the concept of “pay yourself first.”
The book basically said, why should you pay everyone else first? Why should you kill yourself to give everyone else money, while you scrape by at the end of the month?
This struck me. And I adopted it.
The practical application for it was to take 10% of every pay check and put it in savings first.
I started doing this, even though I had bills and debt. Even though I took 10% out for tithe as well.
I cut back on my needs, and my greeds. And what I found was that I did not miss the money.
After years of doing this I can say that I put more than 10% aside today.
I also have a nice chunk set aside that I can use for emergency. Or to make a needed purchase, or help a friend or family member, or even to take a trip and enjoy life.
After my debts were all paid off and I continue to pay myself and God first, I have been blessed.
Again, I am not rich. But, I have what I need, and I can now focus on building real wealth.
Many folks are just like me. They want to get ahead but can’t. They read the books or listen to the podcasts and just can’t do it. They cannot reach that first rung of the ladder, to even begin to start climbing.
So, try what I did.
1. Settle spiritual things.
2. Get an income, no matter how small
3. Give to God and others. When you give, it comes back. Even the experts agree.
4. Study finances. Do what you can. Some advice is too far ahead. But when you save, you can eventually get there.
5. Work to get out of debt. Pay off the smallest debt first, and go from there.
6. Cut your need and greed. Figure out what you need and cut the rest.
7. Pay yourself first. Put some in savings every pay day and leave it alone. Let it grow. Then make wise decisions. You gotta have this money to start getting ahead.
I’m not saying don’t pay your bills. I’m talking about priority. When you pay yourself first you will be able to eventually pay those bills and enjoy life.
Why should all those rich companies get your money before you do?
How do you think they got rich?
Probably because suckers like us threw money at them while we wallowed in poverty and debt. (There is good debt and bad debt. Learn the difference. Then, you’ll know what to avoid.)
(If you are hounded by bill collectors, learn the laws. Collectors often benefit from regular people being ignorant of the laws, being scared of getting into trouble, and having a desire to do the right thing. Knowledge is power. Collectors don’t care about you. They will lie to you and make you think you are powerless.)
Pay yourself first. Be determined to save it. This doesn’t mean you don’t pay bills. It just means you pay the most important bill first….YOU.
Bio: Chris Bunton is a writer, poet and blogger from Southern Illinois. He has published in several magazines, and has written a poetry eBook called “Against the Man” and an Addiction Recovery eBook called “Made Free: Overcoming Addiction“ His newest book is called “The Future is Coming” and is a collection of dystopian short stories.
Follow Him on Medium: https://chris-bunton.medium.com/
Read His Spiritual Writings on Blogspot: https://chrisbunton.blogspot.com/
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