Fijis Methodists face alarming trends in the misuse of funds. The members are spending money on items were not supposed to be and others are spending church funds on items they don’t use or need. Fijis Methodists are facing an issue that is serious. This could cause financial difficulties in the long-term. It is a major issue for Fijis Methodists. The church is often misusing their money. In 2017, there was an alarming increase in Fijis Methodists making use of money. The most recent financial report of Fijis Methodist Church shows that there was an amount of $2 million that was involved on the table for misuse of money. This worrying trend shows how easy it can be for Methodists lose their money.
It can happen in various ways:
The money they have could be used to purchase unnecessary items or services they do not need.
Are there ways to ensure that you don’t waste money?
It is often due to factors like insanity, greed, or spending excessively on frivolous or unnecessary activities. There are several reasons funds can be misused.
The possibility exists that they could be able obtain money, but it is possible that they will not validate its security
It is possible that they skip over certain expenditures completely which leaves quite a big balance on their credit card at the conclusion of the journey.
How to Avoid Misuse of Funds
Help stop use of your money for ill with these steps:
Be more accountable in your spending
Be sure to keep the track of expenses and make sure you pay any debts in a timely manner. creative and explore new opportunities to spend your money
Avoid making hasty decisions about money
Avoiding squandering funds
When you’re considering the investment of your money, make sure you are cognizant of risks and measures you take. As an example, don’t invest in stocks that you don’t comprehend or are of a low values – it could cause massive loss. Make sure your cash is safe. store it in a bank drawer in a safe deposit box, or at home for an circumstances of emergency.
Make sure to keep your money in a Secure Place
Keep your money safe by keeping it in a secure location in a location that isn’t likely to be stolen by unauthorized individuals. You can, for instance, keep your funds in an unaccessible digital wallet or bank vault; do not keep your money on the street or at an ATM machine.
Do Not Leave Your Money in the hands of an unsupervised person.
If you aren’t sure what your money will be going to upon your death, or how it’ll hold upover time, do not leave it unsupervised. Instead of putting all your eggs in one basket, put each of your assets separately in separate accounts, and allow plenty of time to get in touch with each one in case there are any concerns about its status or value.
Don’t store your money in a secure location
It is possible to stop money from becoming a target for fraud using these guidelines: You should ensure that you have documented policies and procedures set up to ensure that the unauthorized access to funds is not a problem. Keep track of travel expenses and ensure that your records are accurate. Don’t allow others to use your money without your consent. The result could be expensive legal issues in the future.
Maintain your records in order
You should keep track of every receipt and transaction associated with your travel budget. This will help you spot fraud or mismanagement. Additionally, it is recommended to input this data into an accounting program such as QuickBooks as well as Microsoft Excel so that you will be able to easily and quickly look whether there are any discrepancies or anomalies.
Don’t Let Others Use Your Money
You should not allow anyone access to your travel funds before obtaining consent from you . This could create legal issues when someone unintentionally uses the money while on vacation.
Fijis Methodists are facing a troubling development in the misappropriation of their money. You need to exercise caution when investing and ensure that your investments are appropriately managed. Also, you can avoid misuse of funds by using the right written procedures and guidelines, keeping your records accurate as well as ensuring that anyone else cannot use your funds. These suggestions will assist you to prevent financial issues.