Genesis 41:33
“Now therefore let Pharaoh look out a man discreet and wise, and set him over the land of Egypt.”
One of the most financial savvy men in the Scriptures was Joseph. Where he got this wisdom from I do not know, but it was very obvious that he had the mind of God when he advised Pharaoh. Had Pharaoh not listened to Joseph when he interpreted the dream, the greatest humanitarian disaster of all time would have happened. Let me show you the financial advice that Joseph gave and how it applies to your personal finances.
First, you need to be accountable to someone. Joseph told Pharaoh to set a man over the finances of Egypt. Everyone needs financial advice at some time in their life. A person who has full control of their own money will one day make a foolish decision. You need to find a couple of people in your life who can advise you on financial decisions. This person needs to be one who has been successful with their own finances. Just because someone holds a leadership position does not mean they are good with finances. Find those who have been financially savvy and let them advise you.
Second, be cautious in spending your money. Joseph told him to find a person who was “discreet and wise.” Being “discreet” means to be cautious. Don’t be spend happy, but be cautious with your money. Be wise with your spending habits. Don’t allow yourself to spend money on a whim. You will end up in a financial mess if you are not careful with your spending habits.
Third, set up a budget and live by it. Joseph told Pharaoh to set up officers over the land. These officers would dictate how the money would be spent. You must have a budget that dictates how you spend your money. Let me ask you, do you know where all your money is going? It would be wise to regularly go over your spending habits and make sure you are living within your budget. If you have no budget by which to live, then you are losing money. A budget must be your financial boss. If the money is not in your budget, then you must not spend it.
Fourth, set a portion aside for hard times. Joseph knew that the famine was coming, so he advised Pharaoh to set twenty percent aside for the years of famine. I’m not going to tell you how much you need to set aside, but I do believe you need to consistently set money aside for tough times. You are going to come across hard times, and if you have no money set aside, you are going to find yourself on the street. God takes care of us, but He also expects us to be wise enough to set aside during the time of financial blessing.
Friend, everyone will face financial famines in their lives. Are you prepared? If your famine started today, what do you have set aside to help you through it? Let this advice help you in preparing for that time. You will find that those who are financially set in their senior years are those who followed this advice throughout their life. Don’t be foolish and think you will never go through a financial famine; instead, follow this advice and you will be able to make it through a time of financial famine.