Possible Barriers to Purpose: Your Money

Are you finding that there’s too much month and not enough paycheck?
Do you have filet mignon tastes on a hamburger budget?
Have you been in a forest and found that money really doesn’t grow on trees?

Money – it’s a challenge to live with it, and it’s horrible to live without it. But at some point you must come to grips with money without allowing it to have a grip on you.

The total credit card debt in the U.S. is approximately $973 billion. That equals 66,015 miles high if one dollar bills were stacked in a pile. If placed end to end the dollar bills would circle the earth 2.65 times.

The average balance on each open credit card is $1,157. Clearly we are a nation of families drowning in debt. Moreover, household debt among Christians mirrors society. It’s clear that we need to get back to the biblical basics of finances.

Some Basic Biblical Truths about Money

• Everything you have – including your money – belongs to God.
• ŸYou are responsible for what God has given to you – and will be held accountable.
• ŸGod expects you to invest your money – not only in the financial sector but in doing His work.
• ŸMoney is NOT the root of all evil; it’s the LOVE of money that is the root of all evil.
• ŸThe Bible doesn’t condemn people for being wealth, only for how their wealth is used.
• ŸThe wealthy are to help those in need in their own family, the Church, and the world.
• ŸYou cannot serve two masters. You must choose whether you will serve God or money.
• ŸGod promises to provide for your needs; He doesn’t promise to also provide for your wants.

The 10 – 10 -80 Plan: How to Allocate Your Money

• The first 10% is allocated to your tithe.
• The second 10% is allocated to your savings.
• The remaining 80% is allocated first to pay your fixed expenses; the remainder may then be used for discretionary spending.

How to Get Out of Financial Difficulty

• Ask for help from a trustworthy Christian friend who handles their own money well.
• ŸTogether develop a realistic and practical budget.
• Only buy what you HAVE TO buy not what you want to buy.
• ŸPay in cash or with a bank debit card. DO NOT use a credit card again.
• Pay at least the minimum amount due on your credit statements.
• ŸAs possible, pay MORE than the minimum to cut into the principal.
• Keep at it with dogged determination and accountability to the friend who is helping you.