Faith-Based Finances

Current Article:
The Christian Family and Money
Management

Financial health is important not only to our bank balance
but to the atmosphere in our home.  We need to recognize
that managing money is a spiritual issue.  Did you know
that Jesus spoke more about money than He did on any other subject?

Our attitude towards money is of utmost importance because it is a reflection of our attitude toward God.  Larry Burkett often said, “You can tell more about your spiritual life by looking at your checkbook than by anything else.”

Everything we have comes from God.  He owns it, and He entrusts it to us to use for His purposes.  True financial success comes not from accumulating a large surplus in our bank account, but from following God’s plan for our finances.  As we do this, He will provide for all of our needs.

Let’s consider a simple three-step plan:

1. Give to God First
   
   As Christians, our first financial priority, just as in every other area of life, should be God and His work.  The issue of managing all of our gifts including our finances is of great importance to God.  Figuring out how much to give as a minimum is fairly easy, as the Bible instructs us to give a tithe, or one tenth of our income back to God.  This is a great starting point for Christian giving and should be calculated on the gross salary.
2. Set Aside Funds for Regular Savings
   
   An important second step is to establish the discipline of setting aside money for inevitable expenses and large purchases, such as the down payment for a home, college education, vacations and retirement.  This will allow you to spend from cash resources and eliminate the need to borrow when that is not wise.  You will be surprised by how much can be accumulated by a simple but disciplined savings program.
   
   Do not plan your savings after you plan your spending, because experience shows that those who try this rarely succeed.  You may decide to make this a percentage of your income, and this will probably change as you go through the various stages of life.  All financial planners will tell you that the sooner you start saving the more you will be able to save, so plan to start right now.
   
   The purpose of saving is to provide for legitimate future needs, and for some it will allow you to become one of those special people who can fund important needs of others.
3. Spend the Rest on What You Need
   
   The key to good money management is expense management.  We need to live below our means and be content with what God has given us.  This is hard for all of us, but it is an important life lesson.  The key is to develop a spending plan (budget).  If you have never had a budget, spend two or three months tracking your spending.  Try keeping a log every time you spend money so that you can improve your budget.  Then examine your habits and determine how you would like to proceed and where you need to cut back.
   
   Be committed to this plan and do not be discouraged if you do not see results for the first two or three months.  It takes time to break old habits, and if you have gotten yourself into a financial hole it will take time to dig back out.  Be patient and stick to your budget spending and success will follow.

Listen to what God may be saying to you through your financial circumstances.  Finances can be a dividing factor in marriage, but they can also bring you together in a new and deeper way, as you trust God together and follow His plan.

If you are willing to follow this simple plan and begin to intelligently and prayerfully give away 10% of your income, I believe your financial situation will improve.  More importantly you will be storing up treasures in heaven, which is what really counts. 

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