We often receive emails with suggestions for blog topics and ‘Handling of finances’ has been one of the most frequently asked issues.
1 Timothy 6:10 is one verse that is often misquoted. It says, “For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs.”
However what the scripture also implies here is that money in itself is not evil. But it is the love of money that is evil. You can have a million dollars and not love it, and at the same time having just few thousands does not prove that you don’t love it!
Here are few ways you can master your finance:
1. Give More Frequently
Something. Anything. Read Luke 6:38, “give, and it will be given to you. Good measure, pressed down, shaken together, running over, will be put into your lap. For with the measure you use it will be measured back to you.”
When you make it a practise to give often, you are also overcoming selfishness and greed. Make a mental note to keep some money apart to give often. Secondly sow in good grounds. The Bible says as long as the earth remains there will always be seedtime and harvest.
…And More Randomly
Acts 20:35 says, “In everything I did, I showed you that by this kind of hard work we must help the weak, remembering the words the Lord Jesus himself said: ‘It is more blessed to give than to receive.’”
Don’t just give to the usual places. Go down the lane, find some stranger you are led to, and give.
Instead of bargaining for that Rs 3 with the vegetable vendor, bless her with a Rs 10 or a 100. And don’t forget to tell her about the love of Jesus before you leave. Find someone you can bless today.
2. Plan Your Cost of Living
From time to time when you are financially challenged, don’t be afraid to lower the cost of your living if it is required.
I remember a lady who had divorced her husband and she called me to pray for a miracle in her finance. She had to take care of her two cars and pay the rent of a big house and all her luxury she was formerly used to. She got pretty upset with me when I asked her to sell one of her cars(that she did not need) and move into a smaller house that she could afford.
It is ok to believe God for more but do it while being reasonable and wise. Today find out what expenses of yours are unnecessary and can be cut down? Make a commitment to spend less than what you earn.
3. Do Everything to be Debt Free
It’s pretty scary how the banks today give you all kinds of loans. Sadly majority of the things people own today are not their own, but are bought on loans.
Proverbs 22:7 is scarily true, “The rich rule over the poor, and the borrower is servant to the lender.“(Click to tweet this) At all costs try to avoid borrowing money. I’ll tell you what you get out of this – peace of mind, which is priceless!
In case you already have fallen into the loan trap, it’s time to discipline yourself, and cut down on the unnecessary expenses (see the next point) and plan to clear your current loans as soon as possible.
4. Plan Your Spending
What are the costs you can avoid? Are there any unnecessary bills? Create a simple budget plan for each month. That way you’ll know where your money goes.
Don’t buy anything and everything that is appealing to you. One of my friends told me about how he would hold buying anything he wanted for a year till he makes sure that he really needs it.
Another friend told me about how he would not buy anything above a certain amount, without the happy approval of his family. Discuss your expenditures with your family. Get someone to hold you accountable if required.
Ask two questions every time before you buy something, 1. Is this really needed now? 2. If yes, can I get this cheaper somewhere?
Create a balance sheet, or an account where you can keep a track of your spending and thus helping you limit yourself where needed.
Against some beliefs, God is not against saving. In fact proverbs talks about little ants who are smart enough to save for winter. Many places in the Old Testament you see about the blessings of the store house. Store house was a place where things were stored in abundance, for safe keeping and future supplies.
It is good to give and it is good to save. The problem occurs when you become over zealous, selfish and greedy about saving. But do not forget that every drop of water counts.
Be specific about what you are saving for and be strict about not touching that fund no matter what tempts you. And don’t forget to clear your debts before you ambitiously start to save. Take time today to set the financial goals you want to achieve. Let the wisdom of God lead you.
6. Don’t Forget to Tithe
Give God what belongs to God. We have nothing in the first place that is not given by God! Oh yes, go ahead and give more than 10%. But don’t forget to give God faithfully from every income that He blesses you with. Make it a habit to remove your tithes first before you do anything else with that money. Give your tithes to where God has planted you. Remember even today God’s challenge of testing Him with the tithes works wonders!
7. Last but not the least – Study More About Biblical Finance
Search a Bible concordance of all the verses related to money. If you don’t have one, go here to find an online study.
There are more than 400 verses in the Bible on money. Ask the Holy Spirit to show you the truths about how to handle finances. Pray over these verses and claim His Word for your life. I am sure that His Word will work wonders for your finances.
In conclusion, I believe, “If you are faithful with the little money God has given you, He will then entrust you with more.” (Click to tweet) Be a great steward of the money that God gives you!
Question: Is there any other point you can add? Personally how do you ensure that you are a good steward of money and not allow it to rule over your life?