Memory Verse: “The wisdom of the prudent is to understand his way, but the fools is deceit”-Prov. 14:8

Bible Passage: Luke 19:12:26.

LESSON INTRODUCTION

Simply put, Financial Intelligence is to be financially wise. It is the knowledge and skills gained from understanding finance and accounting principles in the business world and how money is being used (Prov. 18:15). To be highly successful, extra efforts,skills, intelligence and God’s leading will be needed. It is not only organisations and businesses that need financial intelligence . It is also needed for personal finance. 

OUTLINES
1. WHAT IS PERSONAL FINANCE?

2. HOW TO BE FINANCIALLY INTELLIGENT?

LESSON OUTLINE ONE: WHAT IS PERSONAL FINANCE?

The teacher should test the students knowledge of what personal finance is. The teacher should explain personal finance under under two major headings: Financial intelligence and net worth. 

A. Financial Intelligence 

a. Personal finance is the term that covers planning (Prov. 21:5; 30:25).

b. It involves managing personal financial activities such as revenue generation, expenditures, budgeting, savings, investments and other financial related actions (Matt. 25:20). 

c. It is the ability to make smart decisions , plan properly especially in the aspect of finance and live a good life (Prov. 10:4).

B. NET WORTH

 i. Your net worth and what you are able to do with your money is considered a success (Matt. 25:22). 

b. It is not necessarily so much cash at your disposal.

iii. A personal financial statement (Asset-liabilities) shows the net worth of an individual.

iv. For example:

i. if all assets in possession are sold and debts paid, and the liabilities are greater than the assets , the financial statement indicates a negative net worth.

b. If the individual has more assets than liabilities, it is positive net worth. 

CLASS ACTIVITY 1: Can you say so many people in your locality are financially intelligent ? If No/Yes. How and Why?

NOTE: You may NOT refer to specific names. 

LESSON OUTLINE TWO: HOW TO BE FINANCIALLY INTELLIGENT 

A. The tips below can assist to make a person financially intelligent if properly mixed and applied: 

1. Develop a personal success-drive and be intentional about the well being of your finance (1 Kings 11:28). 
2. Seek knowledge and be informed (Prov. 1:5). Invest in yourself (Prov. 19:20). read (2 Timothy 4:13), make researches (Acts 17:11), ask questions , and open your ears and eyes to the happenings around you.
3. Practice what you learn and use the knowledge gained to execute the purpose for which it was acquired (Prov. 6:6; 10:4).
4. Keep track of your spending . Identify where you need to make amends and where you need to intensify efforts (Prov. 16:21). 
5. Have proper and detailed records of your income and expenditure (2 Chro. 34:16-18).
6. Surround yourself with the right people who share the same opinion (Prov. 13:20; 27:17). 
7. Pray for divine wisdom and direction on what and when to invest your resources (James 1:5; Is. 30:21).

CLASS ACTIVITY 2

The teacher should ask students to comment on why they think each of the seven items identified above is necessary to make a person financially intelligent. 

CONCLUSION 

Financial intelligence is needed in order to stay on top of your financial game because hardly would you find a financially intelligent person who is not successful. 

QUESTIONS

1. What is personal finance?
2. Mention four (4) things believers can do to be financially intelligent. 

ASSIGNMENT: State five (5) key factors responsible for financial difficulties in some Christian families (2*5=10 Marks).

CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

Hi, I now use RavenBank to send, receive and save money. I also pay my bills with ease,you should try it out too

OUR MISSION

To create well-reached contents that will increase the intellectual prowess of our readers.

OUR VISION

To become a reference point in the blogging space by the year 2030. We want to be among the first 30 blogs in Nigeria.

Official Social Media Pages for crmnuggets.com

To Get Email Updates when we post new content, Click Here.