Debt Free Legacy

Improving my cash flow control

Improving my cash flow control

by Bob & Kristi LaMontagne

Accurate records are necessary to improve cash flow control– you need to know your current financial situation and establish future financial goals. In Luke 16:1-3, we are instructed to give an account of our management, so we are clearly responsible for the administration of our God-given resources. There are three proven cash flow systems available to help you keep track of your money on a daily, monthly and yearly basis and achieve financial freedom from all debt. These are the envelope system, computerized PC based software packages, and a three form manual cash flow control system. Financial Freedom in 7 Weeks Plus, by Bill and Maureen Sitter, will introduce you to these effective cash flow control systems which will enable you to manage God’s resources more effectively while allowing you to become totally debt free.

How can I control my spending with an envelope?

How can I control my spending with an envelope?

by Amber Drabek

 

I never dreamed that I would be stuck in a financial hole, as deep as I was, three years ago. God had led me to a new chapter in life and to a new city. However, the choices I had made financially finally caught up with me. Whenever I felt empty inside, I would grab my credit card and start spending. I needed my God to fill that empty place inside of me—not material possessions! God placed it on my heart that He had plans for my life and they were beyond anything I could ever imagine! Jeremiah 29:11 (AMP): “For I know the thoughts and plans I have for you, says the Lord, thoughts and plans for welfare and peace and not for evil, to give you hope in your final outcome.” However, the question that I had for myself was: How can these plans come to fruition if my god was a credit card?

The Lord came to my rescue once again and led me to the Financial Freedom in 7 Weeks Plus book and course. God used this program to show me ways to control my spending and my cash flow. A cash flow system is a way to keep track of where your money goes and how it is spent, saved, or wasted. One of these cash flow systems is an envelope system. A flexible spending plan is projected and planned to allot specific funds to specific spending categories. Some examples of these categories are as follows: groceries, rent, clothing, entertainment, and savings.

Now, to use the envelope system, take your envelopes and label them with these specific spending categories. You can use whatever category you choose, but those that you have a more difficult time controlling are great places to start. Once you receive your paycheck, place the allotted cash monies into the envelopes. A log sheet or register should be used, for each envelope, to track incoming and outgoing monies. If your spending plan is balanced with a positive monthly cash flow, then there should exist sufficient monies for each envelope. Once the funds from an envelope are used, then spending from that category must be stopped for that time period. Money can be transferred from one category to another, if need be. However, new debt is not an option. Restraint and discipline are required for the system to work properly.

A simple envelope cash flow control system has enabled me to avoid the use of credit cards and stop overspending. This has been imperative for me to remain on a road to complete financial freedom and to achievement of God’s life plan for me. Of course, for anything to flourish and prosper in life, God has to remain in the center. I have to continually pray and to remain in God’s Word. “Then you will seek Me, inquire for, and require Me and find Me, when you search for Me with all your heart.” Jeremiah 29:13 (AMP)

Computers and Cash Flow Control Software

Computers and Cash Flow Control Software

by Bob & Kristi LaMontagne

God made us and He intends for us to be good stewards, or care takers, of God’s money. Fortunately there are many modern tools that can help us do that with relative ease. Are you fearful or do you get excited when computers are mentioned? Today, there are many user friendly software programs to assist anyone interested in tracking their finances on a computer. However, discipline and accuracy are vital to properly record and safeguard information entered. With computer software programs you must faithfully enter all transactions. As a benefit, you should receive easy to read reports, and detailed summaries for your income and expenses, broken-out by the major categories you pre-select. For instance, you can customize most reports to match your spending and biblical giving plan categories.

Easily available on the market today are many popular financial software packages like Intuit’s Quicken and Quick Book Pro, which are well designed for small business and personal use. Also, available on the market are software packages that deal with money matters by Crown Financial Ministries. Larry Burkett’s team originally developed these software packages, which are reasonably priced. Then, of course, there is Microsoft offering their Microsoft Money which is generally included in their Microsoft Office software package.

Financial software programs offer great assistance to anyone willing to work with computers to take control of their cash flow and become debt free.

One big caution, if you (or your spouse – if married) do not totally understand computerized records; start with the easy-to-use Manual Cash Flow Control System, included in Financial Freedom in 7 Weeks Plus. Once you have this process down cold, then you’re ready to move on to computer-based software, if desired.