Faith & Finances: Part 3

Posted on February 18 2009

Many people feel that it is not spiritual to discuss money, but the Bible says more about finances than almost any other subject. Financial mismanagement has contributed to the fall of many nations as well as marriages. The goal of every Christian should be to “owe no man anything” (Romans 13:8), and get out of debt bondage. Normally, the problem with debt is not a lack of money, but a lack of control over desires. Many are not willing to live on the level that God supplies. Someone well said, “If there’s a will, there’s a way.” May I suggest seven ways for a person to achieve financial freedom?

LABOR Obviously, work is a must; however, most people need to overhaul their definition of work. We have 168 hours every week. If every week we work for 40 hours, sleep for 56 hours, eat for 14 hours, and use 7 hours getting ready, we still have 51 hours leftover! Perhaps we could use that time in a productive way to help eliminate debt. How about skipping the television to work on our houses (increasing its value and equity)? Or, perhaps, we could save rent by using our spare time to manage the apartment we live in. Of course, there is always a part-time job to help retire debt. The Bible is full of admonitions to work! The Bible even says, “The sleep of a laboring man is sweet” (Ecclesiastes 5:12).

CONTENTMENT The world is full of discontented people, and Americans are especially guilty. Discontentment is the result of a lack of gratitude. Covetousness says, “I want more than I have.” It is the result of an attitude that says, “I deserve better.” Advertisements from billboards, TVs, magazines, and catalogs all feed this attitude. The Bible says, “Be content with such things as ye have” (Hebrews 13:5). The apostle Paul said, “I have learned, in whatsoever state I am, therewith to be content” (Philippians 4:11). It will take a long time to pay off the house mortgage if you don’t cultivate the spirit of contentment. Many people “sacrifice the future on the altar of the immediate” because of covetousness.

THRIFTINESS Anyone can throw money around, but it takes real character to be thrifty. Jesus called this “wise stewardship” (Luke 12:42). The thrifty person purposely lives below his means. He drives a less expensive car, and eats out less. He purchases less of a house than he qualifies for, and pays it off sooner. His grocery bill is lower because he eats less elaborate, and cooks more from scratch. He purchases items at rummage sales of thrift stores, and watches the flyers to patiently wait for the sale price. This all adds up to thousands of dollars over a year’s time.

VISION Vision is an absolute necessity in order to get out of debt. We must be able to see the end result. It is best called delayed gratification. The average millionaire didn’t necessarily make more money, but had the foresight to live frugally in order to save the money. In Proverbs 6, God commends the ant for having the foresight to store up for the days ahead. Instead of spending a raise in pay or a tax return on new furniture, the wise steward will pay down the house in order to avoid the interest in the long run. When a person has foresight, he can eliminate the creditors calling to collect their overdue money.

INTEREST AWARENESS When interest works for you, it’s your best financial friend. When it works against you, it’s your worst nightmare. The Bible tells us, “The borrower is servant to the lender” (Proverbs 22:7). Many homes will cost nearly three times the original purchase price over a thirty-year payback period due to the interest. Choking on interest makes it nearly impossible to ever get ahead. The Bible mentions “usury” (interest) in a very negative light. We should try to avoid it like the plague!

WISDOM In order to eliminate debt, we need wisdom and discernment. Many people knock themselves into a financial free fall due to a foolish purchase that should have never been made. The Bible says, “If any of you lack wisdom, let him ask God… and it shall be given him” (James 1:5). We need wisdom to know when we should jump on a deal, or wait. We need to wisely know when to repair or when to replace. Some people spend a dollar trying to save a quarter. There is a time to be a do-it-yourselfer, and there is a time to hire it out. We need wisdom to know the difference.

HUMILITY Trying to keep up with the Joneses is a sad path to the bankruptcy court. Your friend driving the brand new sport utility vehicle might be laughing pretty loud now, but you will have the last laugh if you are willing to drive the humble, used car. When Wal-Mart founder Sam Walton was alive, he drove an older, used pickup in spite of the fact he was one of the world’s richest men. Fancy houses, furniture, or cars doesn’t make us “somebody”. Jesus said, “A man’s life consisteth not in the abundance of the things which he possesseth” (Luke 12:15). If we would forget about impressing others, and live a humble lifestyle early on, it would pay off in the long run. Pride has gotten a number of people into the debt trap.

CONCLUSION: A person in debt doesn’t think clearly and enjoys life less. Make it your financial goal to become “unvulnerable” by practicing disciplined spending habits. It will eliminate much stress from your life, and also benefit you spiritually. Reprinted with permission. © 2008 by Pastor Tony Scheving, Fargo, ND.