Managing Money God’s Way

Deciding to get your financial house in order is a great first step, but for most people actually getting a budget that works is a little more of a challenge.  The sixth Biblical Financial principle will help you decide what is important when creating your “on-purpose” spending plan.

1. Understand God’s Ownership (Psalms 24:1)
2. Learn to Save Money (Proverbs 21:20)
3. You Must Live on Less Than You Make (I Timothy 6:7-8)
4. There is Life After Debt (Proverbs 22:7)
5. Establish an “On-Purpose” Cash Flow Plan (Luke 14:28-30)
6. Prioritize Your Plan Around the Four Walls (I Timothy 5:8)
7. Giving is the Goal to Financial Freedom (II Corinthians 9:7)

One of the biggest deterrents when it comes to creating that first budget is a fear of the unknown.  Let’s face it, for the most part, our schools aren’t teaching good sound financial principles.  When the average student graduates from high school they know very little about budgeting and even less about saving.  Then they head to college with a new sense of freedom and it is easy to understand why so many college students graduate with a mountain of debt and no real plan to effectively get rid of the debt.

Commit your activities to the LORD and your plans will be achieved. (Proverbs 16:3)

You wouldn’t begin to build a house without a good plan, and the same should be true in building your financial future.  You must have a plan that is prioritized around the things that are important.  For Christians and non-Christians alike the most important things in your plan should center around taking care of your family.

But if anyone does not provide for his own, and especially for those of his household, he has denied the faith and is worse than an unbeliever. (I Timothy 5:8)

Dave Ramsey defines the four walls as food, shelter, transportation and basic clothing.  If you are taking care of these things each month then you can get up and start the day knowing that you are taking care of your family.  When you begin your budget these items need to be near the top of your list of priorities.

When you write your budget the first time, it is going to seem very cumbersome and unrealistic.  That is to be expected, after all, did you ride your bike the first time you climbed on the seat.  Probably not.  It will take some time to get used to having control of your finances, instead of your finances having control of you.  Don’t be afraid to look to others for help.  Just be careful not to take advice from anyone that you wouldn’t want to change places with.  In other words, if you seek advice, look for someone who is already where you want to be.  Those are the people that you should imitate, not the guy that is just as broke as you.