When a person realises that he/she is lost anywhere, the first thing to do is find out WHERE he/she is. Then the person asks for direction from there to where he/she wants to go. That is wisdom. Wisdom is the ability to apply knowledge or experience or understanding or common sense and insight. After gaining knowledge, wisdom is used to meet new situations.
Financial Freedom will take wisdom to attain. The first wise step to take is to have a knowledge of where you stand financially. By taking the time to do a little calculations, you need to know:
1. How much do you own?
2. How much do you owe?
These will help determine your net worth which we will deal with later.
3. How much do you have coming in (income)?
4. How much do you have going out (expenditure)?
Is your spending more than your income?
The Bible says "Be thou diligent to know the state of thy flocks, and look well to thy herds" - Proverbs 27:23. We don't have to reach the point of desperation before seeking to be free.
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