Financial Freedom Part I

When I was a little girl my mother showed me how to give, save, and spend money.  It was a special moment for me to go up to the altar and give God part of the money I earned as a child.  As an adult I have realized the importance of it all. This is God’s money and I merely inherited it as His child.

The Parable of Talents: Matt 25:16 and 21 says “The man who received the five talents went at once and put his money to work and gained five more talents…”His master replied, well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things…”. As you invest your money, it is primarily important to tithe and give offerings to the church. The Bible provides us with God’s blueprint to financial stability and it is in our best interest to follow His instruction.

God Provides Details: Ephesians 5:1 and 2 discusses the art of being imitators of God, as his children and live a life of love just as Christ loved us and gave himself up for us as a fragrant offering and sacrifice to God. It does not sound as if God’s children were meant to be poor but spiritually prosperous.

Proverbs 21:20 says “In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.” This means that we should give to God our first or best in all areas of our life.  As we work, spend our money, or save.  The instructions are essential to being a prosperous member to the body of Christ.  There is so much work to be done! Each of us has a crucial part to play.

by Tanja Robinson, Freelance Writer and Financial Speaker

Tax Season

Regardless if you are getting a refund or owing the IRS, there are some basic steps to follow to become better prepared to pay your taxes.

Year after year you may procrastinate at tax time. Paying your taxes can be intimidating and grueling. However, it does not have to be dreaded any longer.  There are ways to make tax and investment planning part of your goal to financial empowerment. Matthew 22: 21 and Romans 13:1-8 teaches us  ”give everyone what you owe him. If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honor, then honor. Let no debt remain outstanding, except the continuing debt to love one another…” Even God requires us to pay our taxes.

Here are some tips to get you started. Make sure you have maintained all of your legal documents and records such as employment, banking, mortgage etc. Set aside a place to keep all tax documents throughout the year so that it is not a burden or stress inducer in April. Always keep good records as well as receipts for expenses: car mileage, child care, student loans (interest), and medical bills. These expenses are tax deductible if you prove them to be for educational and business purposes.

The key is preparation. Find a safe place for your recordkeeping and financial statements so you are not hastily looking for information at the last minute. Make your money work for you!

Remember, we must file our taxes. It is required by law. It really does benefit you later. If you will owe taxes, it is easier to find a way to pay when filed early. Any reputable tax preparer can help you with tax planning and your future withholdings to ensure you do not owe as much next year. What you owe depends on your exemptions. On the other hand, file early if you know you get a refund so that you can get it quickly through e-file service. The IRS will make a return on the interests as your refund sits in their bank account. Also, it is not always in your best to get a rapid refund or loan because of the high interest and penalties in addition to the problems that could arise in getting your refund.

Be encouraged! In Proverbs 18:10 the name of the Lord is a strong tower, the righteous run to it and are safe….God does not want us to run away from our fears but face them. By facing them in His Holy name. This is how His glory is seen through His people.