Look up the word “margin” in a thesaurus and you’ll see synonyms like surplus, extra, and latitude, for example. But when it comes to your finances, that all means one thing: having more money than month. To get that margin, you need more income than outgo.
- Margin (and not just for money) can apply to time and energy as well. How much do we have left over after all of our obligations are met?
- You have your job, family commitments, chores around the house, and obligations to your church. You must also prepare for unexpected or irregular expenses like broken plumbing or car repairs. All of these involve time, money, and effort on your part.
- Do you have time and energy left over to recharge your batteries and to spend time with God? That’s another form of margin we all need.
- Margin means having extra for the rainy days like family emergencies, medical expenses above your deductible, or helping a visiting missionary or college student if God speaks to your heart.
- The key to acquiring margin is living on a budget (a spending plan) to help you decide in advance where your money will go. This isn’t the same as balancing your checkbook—that’s just seeing where your money went, not deciding in advance where it should go.
- When you finally get financial margin, you may find that you also have more physical and emotional margin. You’ll sleep better, feel more relaxed, and are better able to use your spiritual gifts to serve God and help others.
On this program we also answer your calls:
- I heard that if somebody is divorced but remarried for over 20 years you’re eligible for your ex-spouse’s social security. But I’m 4 years older than my ex-husband and I’m nearing retirement age. So, do I wait until my retirement age that I’m eligible to take half of their social security or is it their retirement age?
- I’m going to receive some inheritance. I have a mortgage that’s about $100,000 at 2.5%. My broker wants me to take the money and invest it. However, I’m skeptical. What might you recommend?
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