Money is one of the gifts God has given us. Money helps us be good stewards of our possessions and attain other luxuries that make our lives better. However, for some people, it may be difficult to manage money wisely. When I was growing up, my parents made me buy anything I wanted. I rarely received anything for free from my parents. Because of this, I just developed a strong work ethic and a healthy understanding of money. I learned that if I wanted something, I had to work for it because work was what helped me appreciate it more.
Sometimes people mismanage money by spending it freely without realizing the consequences. If you're finding that you make a decent amount of money but have nothing to show for the end of the month, chances are you're managing your money poorly.
Here are four ways to determine if you have poor money management:
1. Negative Balance in Your Account
While inflation has caused us to spend more money on the necessities like food and gas, it is it is still possible to have money at the end of the month. This means we must live within our means. This means that we don't spend more than the amount we have left over. Once we've spent money on gas, groceries, home expenses, etc., the amount we have left is the amount we have to spend, which is called disposable income. If you find you never have any disposable income, ask yourself why. Are there any ways that you can trim your budget? For example, you may have apps that you've signed up for that are charging you fees and that you're not aware of.
Do a hard financial analysis of your budget. Put it into a money managing app and allow the app to show you where you're spending your money. If you're spending over your limits of what you should be spending in a certain area, find ways to cut back. For example, recently, I found I was paying for apps I never used. There were at least two streaming apps that I had signed up for on a free trial only to find it was still charging me. I didn't even watch the channel! I had to delete the app and call customer service to make sure the plan was officially cancelled. Although it wasn't much, it did save me a little bit each month and every little bit helps.
2. Misunderstanding Money
One of the most misquoted scriptures is “money is the root of all evil.” The verse says, “money is the root of all kinds of evil.” Money in and of itself is not evil. It is our use of money that can be evil. The best way to combat this is to strive to be more giving with your budget. Invest some of that money into charities or other causes that you feel are passionate about. An extra thirty dollars to the Red Cross or to sponsor a child in a foreign country can make a huge difference in the world. It is important to use our money wisely. This includes spending within our means and canceling unnecessary items so that we can make room for more in our budget.
It's important for us to check our heart to see how we view money. If we use money to keep up with the Joneses or buy the next new thing, our hearts are in the wrong place. Nothing in this world (material or otherwise) can satisfy the longing in our soul other than Jesus. If we're not being content with what he's given us for pay, then we may have made an idol out of money. Ask the Holy spirit to reveal to you if you have any issues with money. If you find you're having difficulty giving your money away, figure out why. Money sometimes meets emotional needs that we're not always aware of. Money can be a means for security and safety. Money is here today and gone tomorrow. The only thing that saves us is Jesus. If you're finding you're making an idol out of money, repent of the behavior and choose to spend a portion of your income each month to a worthy cause. It could be donating food to the food pantry or a larger organization such as World Vision or Compassion. There are many organizations that strive to be a light to the world that are struggling to provide the basic resources and keep up operations. Imagine what thirty dollars can do in the hands of Jesus rather than in your bank account.
3. Not a Cheerful Giver
Scripture says that we are to give cheerfully. If you are struggling with giving your money, whether it's a tithe or to an organization, it's best to give it away so that you can rid yourself of the idol it's placing in your life. It may not be easy, and there may even be some generational ties to money that you're not aware of. Take a moment to analyze your family's view of money. Did you grow up in a family that was stingy? Did you have parents who are cheerful givers and known for their generosity, or are they stingy people who keep their money? For example, my mother was stingy. She put it all in a savings account, giving very little of it away. At the end of her life, there was not much to show for the money she kept. Saving and scrimping only to find it makes no difference in the world is like not saving anything at all. It only makes your heart worse and does not allow for you to have freedom to give to anyone who has need and trusting that Jesus will take care of you. Jesus tells us not to worry because even the birds of the air he provides for. If he can provide for the animals, who cannot take care of themselves, why would God not take care of us (Matthew 6:25-33)?
4. Too Many Toys and Not Enough Time
The opposite of being stingy is being too careless with money. Do you find that you must have the next big car? Did you buy cars so you would get compliments from people? What about your home? Is it big and lavish, or is it meager, providing only the room that you need? These are all questions that need to be answered, but first you must look at your heart. Although there’s nothing wrong with spending money on boats or RV's or other things that make you happy in the short-term, later, you may regret spending too much. Paul tells us to be content with whatever circumstances we’re in. Paul said he knew what it was like to be without, and he understood what it was like to be in abundance. We all go through seasons of tough times financially and other times in financial abundance. Examine your heart and trim your spending. You may only need to trim a little bit of your budget to make room for more opportunities to give to others.
Money management is a tough topic for everyone. Jesus talked more about money than heaven or hell in the scriptures. Therefore, he understands that people will have a problem with money, either spending too much or not spending at all. When we follow Jesus, we make a conscious effort to strike a healthy balance between living in need and having enough. Start a journal and give thanks for everything God has given you. You will find that most of the things he's given you are necessities that he's provided for. Allow him to provide for your needs and the obedience to give to all in need. This way, not only will you have better money management, but your heart will be better as well.
Michelle S. Lazurek is a multi-genre award-winning author, speaker, pastor's wife, and mother. She is a literary agent for Wordwise Media Services and a certified writing coach. Her new children’s book Hall of Faith encourages kids to understand God can be trusted. When not working, she enjoys sipping a Starbucks latte, collecting 80s memorabilia, and spending time with her family and her crazy dog. For more info, please visit her website www.michellelazurek.