To freedom through contentment

Are you struggling with money management? Do you never seem to have enough for your expenses? Perhaps you secretly envy the riches and possessions of others. It doesn’t matter how much money you have. If you don’t recognize that what you have is not yours but God’s, your finances will always cause you discontent.

Our heavenly Father owns all things, and yet we worry too much because we don’t have enough. We manipulate others to get more… and then we worry because we fear losing what we have gained.

Breaking free from that preoccupation with money (financial slavery) involves much more than having enough to relax and lead a prosperous lifestyle. It goes beyond learning to budget, save regularly, and invest wisely. True financial freedom consists of living calmly, content with what God gives us. And contentment is a matter of the heart!

“Let your customs be without avarice, content with what you have now; because he said: I will not forsake you, nor will I leave you. (Hebrews 13:5)

“Will I be rich if I follow biblical principles for managing money?”

God does not guarantee that we will be rich. He has his reasons for allowing poverty in the world and giving wealth even to those who do not recognize him as his God. But in the Bible he does give us many principles to help us be wiser in the matter of money. Ultimately, we must trust in his sovereign control of all things, knowing that he has a plan and a purpose even in what seems unfair to us.

“The rich and the poor meet; Jehovah made them both.” (Proverbs 22:2)

“Many of the parables of Jesus refer to money. Why did the Lord connect our spiritual condition with finances?”

Sixteen of the 38 parables deal with the relationship between money and our spiritual motivation. Why? Perhaps because the two basic sins of greed and idolatry are associated with the love of money.

“For you know this, that no fornicator, or unclean, or covetous, who is an idolater, has an inheritance in the kingdom of Christ and of God.” (Ephesians 5:5)

Signs of possible problems

Before you wallow in debt, you’d be wise to examine the negative habits you’ve developed. Start changing the way you manage your money. If you answer yes to any of the following questions, you may find yourself struggling with debt.

  • Do you only pay the minimum balance on your credit card?
  • Do you take cash out of your credit card to cover other expenses?
  • Do you know that you don’t have a savings account where little by little you accumulate some money?
  • Do you use your savings to pay for purchases you make on credit?
  • Do you always pay your debts after they are due?
  • Are you reluctant to open the mail?
  • Do you set aside any money after you pay your debts?
  • Do you wait until the last minute to pay your taxes?
  • Do you have family problems because of money?

“Owe no one anything, but to love one another; for he who loves his neighbor, he has fulfilled the law.” (Romans 13:8)

Lifestyles that lead to debt

“The hand of the diligent will rule; but the negligence will be tributary”. (Proverbs 12:24)

Key verses to memorize

“He who is faithful in a very little, he is also faithful in much; and he who is unjust in very little, is also unjust in much. For if you have not been faithful in unrighteous riches, who will trust you with what is true? (Luke 16:10,11)

Key passage to read and meditate

Matthew 6:25,34

Five principles for managing money

Principle #1—The Law of Contentment (Philippians 4:12)

Principle #2—The Law of Self-Control (Colossians Colossians 3:53:5)

  • Begin by transferring everything you own to God. (Haggai 2:8)
  • Turn away from the financial sins of greed and idolatry. (Romans 6:1,2)

Principle #3—The Law of Stewardship (Matthew 25:23)

  • Recognize that you are responsible to God for how you spend money.
  • Return the tithe of your earnings to God. Make this a commitment. (Genesis 14:20)

Principle #4—The Law of Giving

Principle #5—The Law of Asking. How to pray for your needs.

  • Are you willing to accept God’s will with an obedient heart? (Mark 14:36)

getting out of debt

Identify your debt situation

  • Take an inventory of your assets.
  • Identify your income.
  • Describe your debts.
  • Calculate your monthly expenses.

Consider your lifestyle

  • Think about what you don’t need to live.
  • If possible, look for other alternatives.
  • Reconsider giving gifts.

Set financial goals

  • List future expenses.
  • Consider a job change.
  • Prepare for family changes.
  • Write down your future financial goals.

Take control of your finances

  • Pay more on your debts.
  • Change your lifestyle.
  • Establish a savings plan.
  • Establish a plan for giving.

“Escape like a gazelle from the hand of the hunter, and like a bird from the hand of the one who makes ties.” (Proverbs 6:5)