Midweek Service – “Financial Discipline” by Dr. Mrs. Florence Otu Ellis(Dcns)

It is necessary to be financially disciplined because we appear to be independent considering the fact that we are in the university. Hence, we have to know how to manage our finances.

Discipline is a way of life that takes place through practice. Financial discipline is how well we are able to conform our spending to the plans that we have set to achieve our goals. To be financially fit, we must have a financial plan and we need to sharpen our skills in financial management.

We have to effectively and efficiently manage our money. Not being able to do this is financial mismanagement.Careless and inefficient handling of money can negatively affect an individual, organization or a country.

What causes financial mismanagement?

  1. Lack of knowledge

Students usually don’t have the skill to go about how to manage their money. Hosea 6:4

  1. Poor controlling and monitoring of funds; We are not able to monitor what we use our monies for.
  2. Temptation

We are influenced by the things we see, feel, hear, etc. We desire for nice material things but we need to be very watchful of this, since we are surrounded by material things.

  1. Greed;

When people have enough but still want more. This is the root cause of bribery and corruption. Greed affects people silently, and thus we must strive to refrain from it.

Consequences of Mismanagement

  1. Leads to various forms of sin like theft
  2. Leads to materialism- people who are greedy or mismanage their money are likely to become depressed, anxious, hostile. This can lead to psychological symptoms when a person does not get what he or she wants.

How to be financially disciplined

  • Staying in tune with God- God has a a plan for us concerning our finances. Read the word of God, listen to God. Obey Him in totality and it will influence how we spend the little we have.
  • Our own lifestyles- we should live within our means. We are often tempted to get the things we need and can’t afford. Dont overspend irrrespective of what you have.
  • Choices we make- Note what you need at whatever point in time.
  • Be prudent- Proverbs 6:11
  • Have financial goals- have personal budgets. Set smart goals on what you want to spend. They should be measurable, attainable, realistic and time bound. Setting goals will set you up to achieve them all.
  • Hard work is also important- we should identify opportunities relating to the courses we are doing.
  • We should be content with what we have and avoid comparison because it often leads to one feeling inferior and having low self esteem.
  • We should be persistent in the goal to becoming financially disciplined. Managing our finances will not be easy but we should be resilient.
  • We need to invest with God through tithing and we are sure to get our rewards.
  • Have a mentor you can discuss any issue relating to finance. Someone who can advice you and share some experiences with you.

Your financial status will not stay the same forever, and if you mismanage your finance, it will cost you in the future.

Be consistent in your effort to becoming financially disciplined and with God on your side, you will achieve your aim.


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