Accounting, according to Webster’s Dictionary, is the system of recording and summarising business and financial transactions and analysing, verifying, and reporting the results. You can’t deal with reality unless you are aware of reality, and the truth is that we all sometimes ignore what’s going on with our finances. Have you ever found yourself saying something like, “Mi can’t understand where all a mi money gone?” If so, that is a huge warning that you’re headed for trouble. To be a responsible money manager, you need to learn the principles of accounting. It’s part of God’s plan for blessing our finances.
For starters, we must write it down, keep a log, or get a budgeting software. You do whatever it takes. If you’re not doing it already, you’re probably thinking, “I don’t have time to do this.” But you will thank yourself later. God wants to bless you financially. But you’ve got to make time to keep good records.
As you keep good records, there should be four things of focus: what you own, what you owe, what you earn, and where it goes. You’ve got to know those four things to be financially free.
Money is the acid test of your faithfulness. God uses it more than any other thing in your life to test your faith. Why? Because it’s the thing we have the hardest time with.
It is said that money is a terrific servant, but it is a terrible master. When it masters you, you’re always under stress, fearful, and anxious about everything. When you master your money, when it is your servant, it serves you. When money works for you instead of you working for your money, then you have peace.