Our society and culture push spending to the extreme when it comes to money. Living in excess has become a lifestyle. Our society pushes so much "debt" and "stuff-itis" it's enough to make your head spin. Bloated finances, mountains of debt, and having the latest "thing" are a normal way of life. This leads people to lives of stress and frustration, and yet the cycle continues.
We also live in a very "me" dominated society. It's all about what I want and how I can get it. A common phrase is YOLO, meaning "you only live once." Even though this is true, it doesn't give us free rein to do whatever we want with our finances. We should stop and think, how does God want me to spend my money?
The Bible explicitly instructs how we spend and use our money. This is not to restrain us but to keep us from harm.
1. Tithing
The Bible clarifies that tithing is the first thing we should put aside on payday, specifically 10%. Luke 11:42 says, "What sorrow awaits you, Pharisees! For you are careful to tithe even the tiniest from your herb gardens, but you ignore and justice and the love of God. You should tithe yes, but don't ignore the more important things." (NLT)
2. Meeting Our Families Needs
Meeting our family's needs is important. This includes the basics like food, clothing, and shelter, as well as insurance needs, medical care, replacement of furniture and appliances, and the list goes on. "But those who won't care for their relatives, especially those in their own household, have denied the true faith. Such people are worse than unbelievers." (1 Timothy 5:8, NLT)
3. Getting Out of Debt
The Bible is also very clear about debt and that we shouldn't have any. This is because debt can lead to financial ruin and damage relationships. Instead, we should use our money to get out of debt. "Just as the rich rule the poor, so the borrower is a servant to the lender." (Proverbs 22:7, NLT)
4. Keeping Our Cash Flow Positive
A positive cash flow means we are taking in more money than we are paying out for our needs and expenses. This means we should have some money left over at the end of each month. "The wise have wealth and money, but the fools spend whatever they get." (Proverbs 21:20, NLT)
It is also important for us to be content with what we have and not let our cash flow go into the negative because of wants or desires.
5. Saving for the Future
Instead of spending our money on the now, we should save for our future. This is hard for many people, but even just a little each month will add up and go a long way. Many people think it has to be this big, glorious amount, but that is untrue. Animals already do this, saving and storing food for the winter; why shouldn't we? "Ants-they aren't strong-but they store up food all summer." (Proverbs 30:25, NLT) Case in point.
6. Helping Those in Need
We should also spend our money on helping those in need. This can be anything from charity to buying a meal for someone you see on the street. It could be buying groceries for a neighbor or replacing a flat tire for someone who doesn't have the means to buy a new one. There are all kinds of ways to use our money to help those less fortunate. When we help those in need, we are not only serving them but also serving the Lord as well.
"If you help the poor, you are lending to the Lord-and he will repay you!" (Proverbs 19:17, NLT)
7. Using Resources to Further Our Finances
Instead of thinking about what we want, we should think about how we can put our financial resources to use to help others—for example, picking up a side gig or using our talents to earn extra income to spend on helping others or paying off debt.
Instead of worrying about our finances, we need to look around and see what resources we have to help further our finances. There are many ways to do this, including pizza delivery, a part-time online job, or taking on a second job. You may even have a special talent or skill you can use to make extra money, a skill people need or want to learn. People may want to learn about auto mechanics, cooking or baking, or building a website. The possibilities are endless.
8. Splurging Once in a While
Does God say we can't splurge on something we want once in a while? Of course not! He wants us to enjoy the fruits of our labors. It's not a sin to pick up a new outfit, purse, book, or something else we enjoy now and then.
However, we shouldn't go overboard. Set a specific amount for what you want to spend. Even better, search online to find good deals to score a few things for the dollar amount you allot. You never know what you may find, so have fun.
9. Using Our Excess Money for Good
We should use our excess money for good. This could be for the good of ourselves by spending it on getting out of debt or paying off late bills. It could also mean helping others either by starting a foundation or charity, or making a donation somewhere.
10. Help with the Budget
This is big for people, and most find it very difficult. I suggest spending some money on budgeting software to help manage your spending and finances. I have been using the free version of the EveryDollar budgeting software from Dave Ramsey and like it so far. It helps me know what's coming in and going out and keeps everything on track. It's very simple to use and not overwhelming at all. This would be a significant investment for your financial future.
As Christians, we need to go against the grain of our society with finances. We know that debt and excess are not a good thing. Instead of spending our money on things that can lead us to financial ruin, we need to spend our money on the things that matter. Tithing, our families, making sure our bills are paid, getting out of debt, and helping others. Being good stewards of our money is essential and can lead to blessing in order to bless others. We need to be an example to others and show them there is a different way to spend money. A way that decreases stress, brings harmony to relationships, and leads to peace, prosperity, and godly living.