Effective Financial Goal: The Five Characteristics

In financial management studies, an effective financial goal should have 5 characteristics which could be easily remembered as S-M-A-R-T. The following paragraphs explain all the 5 characteristics:

1) Specific

We might be thinking of being financially free but do you know what it takes? This goal is seems to be too general. Our goal needs to be specific so that we can focus particularly in each area of financial planning and easily to manage our own expectations. Specific goal normally has only one outcome.

For example, goal to invest RM200 per month in unit trust and accumulate at least RM2400 in a year; or spend within our budget every month. These specific goals are going to have different outcomes but when combined, they will ensure our cash flow to be healthy. When each specific goal is accomplished, we are getting nearer to financial freedom.

2) Measurable

We might be working very hard, but how do we know whether our goal is achieved? Therefore, our financial goals should be quantifiable.

For instances, we want to invest and accumulate RM50,000 in 2 years and the progress can be easily quantified by looking at our investment account statement.

In fact, we must be able to measure or review the progress of achieving the goal such as calculating our current net worth, debt-to-income ratio and reviewing, return-on-investment (ROI) and our current insurance policy. It is good if we can keep a journal and review our current planning.

3) Achievable

Many people are influenced by the ‘Law of Attraction’ and believe that ‘nothing is impossible’. Because of this, we’re tend to set difficult goals which require great effort. However, are these goals realistic and achievable? It’s important to know whether the goal is within our potential and logical norm.

For example, if your target is to achieve RM1 million in a year by only investing RM1000 per month in any scheme. How likely can these be achieved? In fact, such investment scheme will require very high ROI within a short duration and often comes with very high risk. You might lost your capital easily.

The most importantly, we should not stretch ourselves to achieve unrealistic goals. This is to avoid frustration over failure which could ended up in great disappointment.

4) Rewarding

We want to achieve a goal because want to get something in return or else nobody will work hard. While working towards goal achievement, we must be certain on the outcome to be achieved and it’s importance to our life. In fact, it must be meaningful and enjoyable.

For example, a man wants to invest his money to accumulate education fund for his son in 20 years. In the future, this goal will be rewarding because his son will be able to enroll into higher education.

However, the rewards could be in any form such as material, financial, relationship and spiritual.

5) Time-bounded

We need adequate time to achieve our goals. It could be short-term, medium-term or long-term, depending on the type of goals to be achieved. Timeliness has been an important aspect in life. Therefore, we should allocate a time frame to avoid procrastination. It will be good if we can set a schedule for everything to be done.

For instances, saving for retirement would require many years because it is a long-term planning and involved huge sum of money. Therefore, planning for retirement in a short-term (1 to 5 years) could be unrealistic unless someone is willing to have huge commitment on this.

In brief, time is priceless because it gives chances for development and create greater outcomes. Therefore, the wise man always said, ‘start early and stop procrastinating’.

Summary

An effective financial goal would always has these SMART characteristics; Specific, Measurable, Achievable, Rewarding and Time-bounded. This is to ensure that our goals are meaningful and get us closer to financial freedom. Good luck in your goal setting.



Source by Isaac Wong Mun Yew

Divine Prosperity – How to Sow Your Financial Seed to Reap Miracle Abundant Harvests

Jesus came to give us an abundant life as spoken in John 10:10. This abundant life includes peace, joy, love, wisdom, success, health, weight loss, confidence, having children, spouse, money making ideas, inventions, freedom from sin, freedom from fear, holiness, super intelligence, financial abundance and anything else that would be a blessing. This article focuses on just one of those blessings, financial abundance and how to obtain it for a purpose.

Compared to the rich in the world, most of the Church has been broke for hundreds of years because of a failure to name their financial offerings and a failure to spend time each day meditating (speaking, declaring, muttering and thinking on) God’s financial promises that renew the mind, changing a person’s inner image from poverty to wealth. You need a renewed mind and a proper understanding of sowing and reaping to enter your wealthy place. Without a proper understanding of sowing and reaping and a renewed mind, the finances of even the best money manager come far short of the financial abundance of an anointed and instructed sower who has renewed his mind with the financial promises of God’s word.

The offering is above the tithe. The tithe is one tenth of your income. You see, although Christians named their tithes which took care of the operating expenses of their local church and subsequently took care of their own house expenses, they failed to name their financial offerings. Result, Satan stole the harvests they would have received from their offerings and left the Church with a paycheck to paycheck broke existence. But that is all changing. God is restoring to the Church an understanding of how to properly sow and reap abundant harvests. He is fulfilling Proverbs 13:22b in these last days:

“The wealth of the sinner is laid up for the just.”

So let me show you how to experience financial abundance through the biblical principle of sowing and reaping.

Jesus taught sowing and reaping. Remember the crowd on the Galilean shore in Luke 5:3 where Jesus preached to them from Peter’s boat. By loaning his boat to Jesus, Peter had activated the sowing and reaping principle. As a result of sowing his seed (boat loan) into Jesus’ ministry, Peter got a harvest. A miracle boatload of fish. Look at Luke 5:4-6:

“Now when he had left speaking, he said unto Simon (Peter), Launch out into the deep, and let down your nets for a draught. And Simon answering said unto him, Master, we have toiled all the night, and have taken nothing: nevertheless at thy word I will let down the net. And when they had this done, they inclosed a great multitude of fishes: and their net brake.”

Just as a farmer expects a harvest when he sows his seed into the soil, you are to expect (have faith for) a harvest when you sow your finances into a ministry the Holy Spirit has prompted you to support. It could be your local church or some other ministry that is advancing the kingdom of God, reaching souls for Jesus. And make sure you give your seed an assignment by naming your seed when you sow it. You could name it “financial breakthrough,” or “financial abundance.” If you are a writing a check, write the name of your seed, “financial breakthrough,” somewhere on your check.

Important – Sowing is to be a lifestyle, not a one shot thing. You don’t name your financial seed, plant it and never sow again. No, continue to sow consistently, naming your seed until your harvest comes in. After your first financial harvest comes in, keep sowing for another financial harvest. The bigger the financial seed you sow, the bigger the harvest. And the bigger the harvest, the bigger the seed you can sow, producing bigger and bigger harvests ushering you into your wealthy place.

It may be a day, a week, a month or a year before your first harvest comes in, but your harvests should manifest in due season. Once they start coming in, you’re on your way to living the abundant lifestyle promised you by Jesus Himself.

“Be not deceived; God is not mocked: for whatsoever a man soweth, that shall he also reap” For he that soweth to his flesh shall of the flesh reap corruption; but he that soweth to the Spirit shall of the Spirit reap life everlasting. And let us not be weary in well doing: for in due season we shall reap, if we faint not”(Galatians 6:7-9).

Listed below are the sowing and reaping steps you take to release your faith for your miracle abundant financial harvests:

Step 1. Know God Is Your Source of Supply – Don’t try to figure out how He is going to do it. That is His job. Your job is to sow and expect a harvest.

Step 2. Pray for What You Desire – What do you desire? Let’s say you would like a financial breakthrough. Okay. You need a scripture to base your faith on. John 16:23 will work. “And in that day ye ask me nothing. Verily, verily, I say unto you, Whatsoever ye shall ask the Father in my name, he will give it you.” So, ask your Heavenly Father in Jesus’ name according John 16:23 to give you an abundant financial breakthrough harvest on your financial seed sown. When do you believe you have your harvest? The moment you pray. You must believe God heard your prayer and granted your petition the instant you prayed. If you believe you have received your financial harvest the moment you prayed then you must act like you have it. Your actions are called works. You release your faith by your works.

The Bible says in James 2:17 that faith without works is dead. What are works? Let me illustrate to you what works are. Let’s say a very rich person you know and trust hands you a check for thirty million dollars. What would you do? Jump, shout and celebrate. Right? Those actions (works) show that you believe you have the thirty million dollars. When your bank sends your bank statement saying you have thirty million dollars in your account would you start jumping, shouting and celebrating again. No. You did your celebrating the moment your rich friend handed you the check. Same way when you pray and ask God for something. You celebrate the moment you finish asking God for what you desire. Your words, celebration, joy and your financial seed sown are your works that show you believe you have received your harvest the moment you prayed. So you release your faith by your actions (works showing you believe you’ve got your harvest now). Your works give life to your faith. Your works release your faith. Your works complete your faith.

“Therefore I say unto you, What things soever you desire, when you pray, BELIEVE THAT YE RECEIVE THEM (the instant you pray), and ye shall have them” (Mark 11:24).

Step 3. Name Your Seed – Naming your seed gives it an assignment. What do you want from your harvest? Healing, finances, peace, a spouse? Whatever it is you want, name your seed. And make sure the name of your seed corresponds to your prayer. If you prayed for a financial breakthrough, then name your seed “financial breakthrough.”

Step 4. Sow Your Seed – Ask God the Father in Jesus’ name where to sow your money seed. The Holy Spirit will direct you to sow your seed in good soil (a church or ministry doing the will of God – winning souls, teaching healing, sowing and reaping etc.). Bad soil is where God’s will is not being obeyed. Your seed (works) is the evidence that you have faith in God’s promise (John 16:23) to grant your prayer request for an abundant financial harvest.

Step 5. Sow as an Act of Love, Worship and Obedience – Sow your seed as an act of love, worship and obedience to God. You are obeying God’s command to give when you sow and out of your abundance you can bless others as the Holy Spirit directs.

“Give, and it shall be given unto you; good measure, pressed down, and shaken together, and running over, shall men give into your bosom. For with the same measure that ye mete withal it shall be measured to you again” ( Luke 6:38).

Step 6. Believe You Have Your Harvest Now – Release your faith by daily thanking, praising and worshipping the Lord Jesus Christ because God has seen your seed planted and has granted your harvest. That’s faith when you act like you have your harvest even before you actually see it with your physical eyes. Visualize your harvest. Use your God-given imagination and see yourself with your harvest. See yourself dressing the best, driving the best, flying the best and always having abundance of finances. See yourself as a blessing and money magnet.

Why is it vitally important to believe you have it (your harvest) before you can see it? Because if you do not believe you have your harvest the moment you pray and plant your seed, you are not in faith. Faith says, “I have it now.” Doubt says, “I will not believe I have my harvest until I see it.” Secret: A key to accelerate (speed up) the manifestation of your harvest is to daily rejoice that you’ve got it (harvest) now before you see it with your physical eyes.

Step 7. Speak God’s Promises over Your Seed – As you daily release your faith through thanksgiving, praise and worship for your harvest to manifest, speak God’s promises over your seed sown. For instance, if you named your seed “financial breakthrough,” speak financial prosperity scriptures over your seed like Psalm 1:1-3, Psalm 35:27, Luke 6:38 and Philippians 4:19.

Step 8. Keep a Record of Your Seed Planted – This way you can focus on your seed planted as you release your faith for your harvests through thanking, praising and worshipping Jesus Christ and declaring God’s promises over your seed sown.

Step 9. Be a Conduit for God’s Finances – You are blessed to be a blessing. Yes, because you are to be God’s representative, an ambassador for Christ, you are to dress the best, drive the best, fly the best, live the best, but always on call to sow your financial seed wherever God directs. His agenda is to become our agenda. His agenda is for souls to be saved, delivered, discipled, serving in a local church, bearing fruit and walking in His glory, virtue and perfect will.

Very, Very, Very Important! There are two things that will hinder you from receiving your harvest. Disobedience and lack of faith. I will explain. Disobedience: If you fail to ask God how much you should give and you give an amount He is not pleased with, then you are being disobedient. If you fail to ask God where to sow (plant) your seed and you sow your seed in the wrong soil (ministry), then you are being disobedient. Don’t expect God to give you the harvest you desire if you have been disobedient. What does this mean? To avoid being disobedient, you will have to spend time listening to the voice of the Holy Spirit who will guide you into all truth, helping you make wise sowing decisions.

I know I mentioned faith in step six, but I want to drive this faith principle home. Lack of faith is a big no no. When you sow your financial seed, you must believe (expect) your harvest to manifest, to come in. Don’t just drop your money in the bucket and not expect God to multiply your giving and bless you with a bountiful harvest. If you don’t expect a harvest, you’re not going to get a harvest. Faith is what moves the hand of God to multiply your seed sown.

This sowing and reaping principle I have shared with you will work in every area of your life, not just for finances. As listed at the beginning, you can sow for a miracle harvest of peace, joy, love, wisdom, success, health, weight loss, confidence, having children, spouse, money making ideas, inventions, freedom from sin, holiness, freedom from fear, super intelligence, financial abundance and anything else that would be a blessing to your life. There is miracle power in the seed. Release your faith for the abundant life through sowing and reaping.

Here are three prosperity scriptures you can meditate on to renew your mind:

“The young lions do lack, and suffer hunger: but they that seek the Lord shall not want any good thing” (Psalm 34:10). “For ye know the grace of our Lord Jesus Christ, that, though he was rich, yet for your sakes he became poor, that ye through his poverty might be rich” (2 Corinthians 8:9). “But my God shall supply all your need according to his riches in glory by Christ Jesus” (Philippians 4:19).

I suggest meditating on these scriptures at least fifteen minutes to a half an hour a day until they drop down into your heart and become a reality to you. The more time you spend meditating these scriptures, the quicker the results.

May I encourage to click on “Awesome Posters” that will encourage you to believe God’s promises to live the wealthy and healthy life you were called to live as you sow your financial seed for your miracle abundant harvests. These posters are beautiful and they come in small to giant sizes.



Source by Philip C Jones