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Financial Stewardship

On Time. A Bill Paying Routine for Good Financial Stewardship

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Do you know the condition of your flock (aka your personal + biz bank accounts)? Many midlife women, even those in business, have little to no idea…no wonder money causes stress!

STEWARDSHIP (n): the job of supervising or taking care of something

As Christians, we are called to be stewards of both MONEY + TIME…

You can spend money (or time) and then it’s gone. 

Or you can invest money (and time) and get a return.

If you’re not intentional, money (and time) drains out.

But if you’re actively engaged, money (and time) compounds.

I want to be a GOOD STEWARD…cuz ultimately it’s from Him. 

In the parable of the Talents, Jesus tells the story of a master entrusting his resources into the hands of 3 servants…you can read the details in Matthew 25:14-30.  

What made the difference in their stewardship? 

Two invested wisely and increased their master’s resources, while the third barely maintained what he was given.  

Two acted in faith and one acted in fear. 

Two heard, “Well done, good and faithful servant.  You have been faithful over a little, I will set you over much…For to everyone who has more will be given, and he will have an abundance” (Matthew 25:23, 29)

Bible Verse, Mathhew 25:23,29

… and one didn’t.

Once we understand WHO gives us our money (and time), it should change how we spend (or better yet invest) it. 

But why do we often feel like there’s more month than money? 

Cuz you don’t know what’s coming and going and don’t have a regular routine for staying on top of it.  

As midlifers, we are the generation that waited for the paper statement and actually balanced a checkbook…remember?  You paid for things with cash or check, and drove to the bank to make deposits, so you physically saw money coming and going. 

I’m not suggesting we should go back to paper & pencil for managing our finances, but maybe we’ve gotten a bit lazy around our stewardship…aka how we’re paying attention to our resources. 

Today, with online banking, online shopping, online bill pay, automatic payments, and direct deposit we don’t have much money coming through your hands…

But if you don’t know where your money is going (and don’t have a plan to give it your attention), chances are you’ll not like the results.

No wonder you feel OVERDRAWN- it’s costing more time, money and energy (aka stress) cuz you’re simply not aware or involved.

Wouldn’t you rather feel INVESTED- cuz you have intention about where it’s being invested and are not wasting time, money or emotion over it?  

3 Questions to be More Intentional about Personal + Business Finances

  • Do you know what’s coming and going in your accounts?   

Prov 27:23-24  “Be sure you know the condition of your flocks, give careful attention to your herds; for riches do not endure forever, and a crown is not secure for all generations.”

Back in that day you could literally walk out to the barn, count the heads and know exactly what you had.  And you better believe you gave careful attention cuz you understood the value.  If you didn’t…a thief (or a fox) just might snatch them while you’re asleep.

If you’re like me, you’ve got a few bank accounts, several lenders and many sources of spending- Get it all in one place…and pinky swear not to over-depend on digital tools to do all the work.

  • Do you have a plan for your life + biz finances?  

Luke 14:28-29 “Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? Otherwise when he has laid a foundation… he is not able to finish it.”

Before any money goes out, a wise CEO will map it out before committing to that investment. Cuz without a plan, you’ll have a half-built tower, a half-launched business, a half-paid debt…without much to show for it. 

Having a plan for your money is like having a plan for your time.  At first it may feel constricting, but if you want what’s inside to flourish and bear fruit, you know protecting what comes in and out will be best in the long run. So what’s your plan for your money? Do you have it in writing (or at least on a spreadsheet)?  

  • Do you have a routine to give your finances attention? 

Romans 13:7-8 “Give to everyone what you owe them: If you owe taxes, pay taxes; if revenue, then revenue; if respect, then respect; if honor, then honor. Let no debt remain outstanding.”

Paying attention to your flock (aka accounts) and paying those you owe is something you need to do on a regular basis, no matter how much income or debt you have, which is why it would benefit from a routine…

5 Steps to Create Your FINANCIAL or BILL PAYING Routine

  1. IDENTIFY THE PROBLEM/NEED. Notice where it needs attention.
  • Is it in your spending, saving, investing, paying, giving?  

Notice what causes friction or where you desire growth.

  1. UNCOVER THE ROOT. Admit why that problem is really happening. 
  • It is because you’re unaware, uncontrolled, uncaring?  
  • Is it that your income does not exceed your expenses?  
  • Are you seeking security, worth or comfort in money or things?

Take it to the Lord and ask Him to reveal your heart.

  1. PLAN THE STEPS. Decide what you will do to change things.
  • Will you gather your income and expenses in one place?  
  • Will you look up all your due dates and set reminders?
  • Will you move bills to autopay or request a paper copy?  
  • Will you sit down to pay bills and check your balances? 

Lay out what you will do in what order.

  1. BLOCK THE TIME. Commit to when you will do it…and how often. 
  • When in your week will you sit down and focus on just this? 

With it at your fingertips it’s tempting to check balances anytime you feel like it, just like your inbox, but that only distracts from your focus.  

For me, I’ve set a time block in my PM Pour out one evening a week to focus on personal finances and a time block in my DAY Pour out one day a week to focus on my business finances…that way no bills get forgotten, I’m aware of my balances and I don’t have to think about it when I’m investing time with my clients or family. 

Don’t make it random- decide when it will happen.

  1. INVITE THE SUPPORT. Have a conversation with your spouse, kids, extended family, business partner…to get them on board. 
  • Explain the area of need, the root cause, the steps you’ve planned and the time you’re committing
  • Ask how they want to be involved (or tell them)

In my home, I take care of the finances and update my hubby on what’s in there… and he checks in before a large purchase (at least he’s supposed to). It always works better when you clearly communicate and invite others into the process. 

So, now do you feel equipped to create a recurring routine around your life + biz bill paying and finances to be a good steward? 

The best time to invest your money (or time) was 30 years ago- and the second best time is…TODAY.  

TODAY’S COMMUNITY QUESTION: What 1 step will you take TODAY  to start to create a Recurring Routine for your personal + business Bill Paying and Finances? 

Come join the conversation and get inspiration + accountability inside the REDEEM Her Time Community

BONUS TIP: If you want to know where your time is going and the key to why it feels like there’s always more on your list than there is time, go book book a free Schedule-Shaping Strategy Session and let’s uncover the root problem…TOGETHER.

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