By Jeff Rogers
Special to Inside The Pew
Saving more money and getting out of debt always rank as some of the most common New Year’s resolutions. But resolutions are easy to break, especially if not backed by a strong sense of purpose. This New Year, consider what God is really wanting you to do with your finances. How did you do last year in this area? And what do you want to improve on this year, to better honor Him?
This fresh start of 2017 is a perfect time to evaluate your finances in light of God’s Word, and work towards managing them better, in the way He has called us to in scripture.
So, here are some tips to honor God with your money and achieve financial freedom in 2017. 2017 can be your best money year yet if you follow these simple, God-honoring principles.
Research what the Bible really says about debt.
One of the biggest chokeholds that Satan has on many Christians is excessive debt. Debt brings bondage, not freedom. If you have a strong understanding of how God really feels about debt, you will be more prone to avoiding it. Research scripture and spend time praying about how and why God wants you to avoid debt. As Proverbs 22:7 says “…the borrower is slave to the lender.”
Set long-term goals.
As a financial advisor for over 33 years, I’m sometimes amazed at how many individuals or couples have never set long-term financial goals. As the old saying goes “If you aim at nothing…you are sure to hit it!” God’s Word speaks wisdom in this area in Ephesians 5:15-17 (AMP) “Look carefully then how you walk! Live purposefully and worthily and accurately, not as the unwise and witless, but as wise (sensible, intelligent people), making the very most of the time [buying up each opportunity], because the days are evil. Therefore do not be vague and thoughtless and foolish, but understanding and firmly grasping what the will of the Lord is.”
Build liquid reserves & savings to respond to emergencies and unexpected expenses.
Many otherwise good financial plans are ruined or suffer a setback because they don’t have the liquid reserves and flexibility to respond to emergencies or unexpected expenses. We recommend setting a goal of building 3-6 months worth of your household budget in liquid reserves/savings. It will take some time, but paying off debts can free up money that can build your liquid reserves as can using things like tax refunds, bonuses, overtime pay, etc.
Spend less than you earn
As the old saying goes, “If your outgo exceeds your Income, your upkeep will be your downfall!” Nobody (the government, corporations or you and I) can spend more than what we bring in for an extended period of time without running out of money. Develop a spending plan and budget, and stick to it. You may find it is easier than you think!
Rejoice in generosity
Have you ever noticed that some of the most unhappy, bitter people are those who are stingy and who hold tightly to every dollar? Have you also noticed that many of the most joyful people in this world are generous (toward God and towards others)? In fact, I’ve heard one Christian leader say “I have never seen an unhappy…generous person!” And you know what, neither have I! As the late Larry Burkett said, “Nothing breaks the chains of materialism like generosity.” I learned a lot from Larry’s teaching and that was one of the most valuable lessons and has transformed my life. Have you allowed generosity to transform your life, your marriage, your family? If you want to break the bondage of materialism and selfishness in your children or grandchildren, read the Kingdom Assignment and do a generosity project with them; or take them to your local Rescue Mission or a third world country where they can experience real poverty and hardship. They will likely come back changed…and so will you!
Spend some time this New Year praying through what God wants for you and your family financially. By following these tips, lots of prayer and a little bit of self-discipline, 2017 can be one of your best money years yet. For more tips visit http://stewardshiplegacy.com/blog/
Photo cutline: Jeff Rogers