Being smart with money

The other day, a guy I know wrote a quick post concerning individuals in the field of ministry and their finances. The news wasn’t good!

The post made me think about frugality and how it is sorely lacking in our culture. It has been reported by multiple sources, including this one, that American households are a little more than neck-deep in debt. The simple fact is, unless you’re making more than you’re spending (and you’re not the American government – so much for that of the people, for the people and by the people thing) you’re heading in the wrong direction! For all the money that Americans spend on education you would think this simple part of Economics 101 would get aced on the test.

The borrower is a slave to the lender! You don’t have to subscribe to every thought that comes out of Dave Ramsey’s mouth to know that it’s true.

The Bible has a lot to say about money. And a lot of it includes warnings for a good reason – because your mastercard is knocking. Oh the irony of a name like that!

Being smart with money includes being frugal in how we spend it. Being frugal doesn’t mean you’re stingy, cheap or a lover of money. Being frugal simply means being economically smart. Return on investment matters in much more than the account that Wall Street knows about. There’s nothing mean about pinching a penny…unless Penny happens to be someone’s name of course.

We trick ourselves into thinking that we’re better with money than we really are (I whole-heartedly agree with the principles mentioned in parts 1, 3, and 5 of the linked article). The bottom line doesn’t lie. Read the article and see if doesn’t hit home. If it doesn’t hit you, I guarantee it’s hitting someone you know and care about. We need to quit tricking ourselves.

Budgets are as simple as the elementary math that the majority of us should know how to use. We just have to stop acting like kids that can’t resist buying a new toy every time we go to the store. Being frugal means sticking to a budget so that more of our money sticks around. That’s why frugality works as a great extinguisher for that green-colored paper that won’t quit burning a hole in our pocket.

When you sit down to eat with a ruler, consider carefully what is before you; and put a knife to your throat if you are a man given to appetite. Do not desire his delicacies, for they are deceptive food.” (Proverbs 23:1-3)

#budget, #debt, #finances, #frugality, #money