Financial Intelligence for Students

The first thing we need to ask is what is financial intelligence?

And I define it basically as understanding the fact that all you have is from God and for God's purposes. Also understanding that when you're faithful in little things God increases your wealth no matter your age or status.

I'll illustrate this with 3 scriptures.

Luke 19:17 KJV

And he said unto him, Well, thou good servant: because thou hast been faithful in a very little, have thou authority over ten cities.

Number 1

Luke 16:10-11 KJV

He that is faithful in that which is least is faithful also in much: and he that is unjust in the least is unjust also in much. [11] If therefore ye have not been faithful in the unrighteous mammon, who will commit to your trust the true riches?

Number 2

John 3:27 KJV

John answered and said, A man can receive nothing, except it be given him from heaven.

Number 3

These three scriptures sum up financial intelligence from a Christians perspective

Every cash that comes to you is from God.

Not your parents, your job, your friends, relatives, pastor, etc. They are vessels but God is the one who blesses you through them.

If God doesn't release it that's when Dad and Mum will just not feel like giving you money again.

Let that sink in deep. So you know you must be a grateful person whenever you receive

So if you waste money whose money are you wasting? God

Moving on then.

GOD WANTS US TO BE WEALTHY. Because poverty does not glorify God, it also doesn't help the kingdom's expansion. He will provide all our needs according to HIS riches.

What are the problems we face because we are not financially intelligent?

- Spending money lavishly without being able to account for how it disappeared

- You will become a broke babe or dude and keep borrowing money

- Which leads to the worst, you become a debtor

- Zero savings (investment savings please, I'll explain this later)

- No financial independence from parents or guardians Or even your job

- Missed opportunities

- Poverty

If you see yourself in any of these categories then you're not financially intelligent.

Now, what are the benefits of being financially intelligent?

- You will have financial independence

- You will live debt-free

- You will have money to sow into Gods work

- You will have money to invest and multiply your money

- Opportunities don't pass you by

- You don't spend anyhow but buy quality stuff

- No more brokenness

- You will be able to bless people and your family

Please understand that it's not dependent on how much money you are currently receiving that shows you're broke. Or that its when you get one big job and hammer that you will be able to manage money better. That's a lie if you're not faithful In little you will not be faithful in much. Simple

Alright to finalize the session after this understanding we need to know.

What are the tips to become financially intelligent?

1. Learn to say NO!

Some of us are bobo nice or sister nice

Anyone who asks you for money Yes,

Friend: can I borrow Iyanu I'll pay you back

Iyanu: Yes! Take it all

And as we know they mostly never payback

This year I made up my mind not to borrow anymore. I only dash money and you can take and not payback.

And that's where I want you guys to get to as well

Today you're lending out 2k, in 10 years you'll be lending out 20million. Not because God has blessed you alone but because you lack wisdom

2. Budget everything and plan your spending before money comes.

If I send you 50k you must learn to split it into a budget

Let me share my own formula because I want to see you guys great too.

Anyways I split any money I get into percentages. (I got myself envelopes for all categories listed below, you can use Kom Kom too lol)

1. I take out my tithe first (10%) of both gifts and salaries.

2. I take out money for emergency savings for when i maybe go broke, that's another 10%.

3. I take out money for seed which i use for paying church dues or church contributions etc. if it finishes i don't pay anything again except i wanna do a sacrificial seed which i attach a big request to. Oh, you must water your seeds with a prayer for them to grow. My seed is 10%.

4. I take out money for Charity. I don't borrow or dash money to anyone unless its within this charity budget which is 10%. Once it finishes and you ask me? i don't have money given. And I had to force myself not to feel bad about saying NO!.

5. I take out money for Investments. I take out 15% and keep pilling it until I have enough to invest in something e.g I plan to buy bags of yam and send it to sellers in Lagos and agriculture is 100% profit. Only use it on investments.

6. I take out 5% for offering and split is across Sundays that month.

7. The remaining 40% is for personal spending, food, data, etc. I record how I spend every dime and I don't buy what I don't need because if I spend stupid then I will finish this 40% fast and that's not wise. Every month I evaluate how I used my 40% and improve. In fact, write out key things you want to buy this year and then buy like one or two a month depending on priority.

As you read that let me just drop the remaining points

3. Learn to Tithe

I tithe even on gifts people give me. Not because I want God to bless me and He won't bless me without tithing but because I am appreciating Him by giving to the church out of the great abundance He has blessed me with

When He sees I'm grateful He opens up the heavens for me and shows His gratitude too

4. Stop spending on anything you don't need

Some of us once money comes its Cold Stone and ICM

Haba

No plan for the money nothing just splurge

Make sure you have a list of what's important to buy at all times before money comes so when money comes you spend according to that list

5. Evaluate your spending monthly

The richest people account for every dime they spend not because they are stingy but because once you can track your spending you can grow your wealth.

6. Understand how to give

Know what is a Seed and what is Bread.
Know when to give sacrificially and how to attach a harvest to what you sow.

Read Books on financial intelligence

Knowledge is power, go and read books of financial great people and practice what they did and you will be great too

8. Start an investment savings & Invest 20% of your Income

Don't save like the foolish servant that his money in the ground. When you save money save it to invest it and multiply it.

I'll send you guys a book that will teach you this. Don't just save for saving sakes save with a purpose.

Invest in investments you understand and are trustworthy. Never put all eggs in one basket.

9. Sparingly borrow people money, Dash them from charity budget and no more

And finally

10. Bless your parents

Sow into their lives, buy them credit sometimes. Use the little you have to bless them and God will bless you so much for it

11. Call forth Money

Money is not to be begged for. It is to be called forth.
God has released unto us all the blessings for our life, we can call them forth by Faith but we must maintain spiritual maturity. God will not bless you more than your capacity.

12. Develop 4 Streams of Income.

Eden had 4 rivers, all believers must have at least 4 streams of income.

And you can start developing your streams from school by spotting problems and solving them for a fee.

Q&A

Question 1.

As a student that I am, are you saying its wrong to depend on the allowance my parents give me?

How do I split between getting school materials feeding and saving? How's that even possible? Nope, take the allowance but budget it.

ANS:

When you've saved up enough invest it and start becoming financially dependent gradually.

The school materials money take out 10% for investment savings. 10% won't kill. By the end of the year, you'll see you have enough to invest

Question 2.

So I can't borrow money when I urgently need it?

ANS:
The borrower is always a servant to the lender.

But... If you can pay back confidently within 3days then it's manageable for starters. But If you know you can't pay back in 3 days then it's not advisable.

Question 3

How do I help not being money-driven?

ANS:
By understanding the money isn't about you its about God.

He will require from your hand at the end what you used His blessings for and you must give a reply

Hopefully, it makes sense