Last week, we began talking about how to begin to have financial freedom in your life. If you haven’t read it yet, you can find the post here. The questions that we are discussing in regard to finances are:
How do you master money when you feel like money has actually mastered you?
How do I get in the black with my finances when I am always in the red?
How do I get out of debt?
…and today we will be working through the five principles for wise money management that the Bible lays out for us to help guide us as we work to get out of debt. I pray this will be a blessing to you!
The Law of Contentment
- Remember…God owns everything! {Psalm 50:12}
- Recognize that God is our mighty source. He provides all that you possess. {Deuteronomy 8:17-18}
- Realize that God wants you to be content with what you have. {Philippians 4:12}
- Take a few moments and review what money means to you… (Security? Significance? Self-worth? Status? Power? Independence? A means to helping others? Other______?)
- Once you discover all of the needs you expect money to fill, call Philippians 4:19 to mind…especially when you are tempted to spend needlessly.
- Be sure to rest in God’s presence no matter what your financial circumstances.
Hebrews 13:5
Keep your lives free from the love of money and be content with what you have,
because God has said, “Never will I leave you; never will I forsake you.”
The Law of Self-Control
- Start by transferring ownership of everything to God…mentally and emotionally. {Haggai 2:8}
- Then you must separate yourself from the sin of greed. You must repent and confess if your trust is in money. Remind yourself of the consequences of financial bondage. {Luke 12:15}
- Set a NEW goal for managing your finances. Get counsel from someone with financial self-control and commit to staying on course with God’s plan for your finances. {2 Corinthians 5:9}
- Keep away from temptation by controlling your thoughts. Avoid thinking you can occasionally indulge yourself and avoid thinking that you can do whatever you want, self-sufficiently.
1 Corinthians 10:13
No temptation has overtaken you except what is common to mankind. And God is faithful; he will not let you be tempted beyond what you can bear.
But when you are tempted, he will also provide a way out so that you can endure it.
The Law of Stewardship
- You must recognize your accountability to God for how you spend money. What does accountability mean? It means…. Knowing exactly what comes in, knowing exactly what goes out, knowing exactly where it goes (budgeting), knowing how to save (regardless of your income), knowing how to put your money to work for you (safe investment planning), and knowing when and where to give money to God and to others.
- Return the first tenth of your earnings to God…this must be a commitment! Many assume that tithing was taught only in the Old Testament. However, Jesus gave full endorsement to the principle of tithing. {Luke 11:42}
- Reserve an amount of your earnings for saving. A wise steward plans ahead by establishing a habit of saving. {Proverbs 13:22}
- Be sure to respond to the needs of others. When you allow God’s heart to have freedom in your heart, your attitude toward giving will change so that He will use your giving in the lives of others. {Proverbs 19:17}
- Resolve to live by a monthly budget. {We will talk more about this next week!}
The Law of Giving
- Give confidently to God that which He has commanded. {Malachi 3:10}
- Give regularly to the work of the Lord. {1 Corinthians 16:2}
- Give sacrificially by giving up some of your own desires. {2 Corinthians 8:3}
- Give cheerfully–not reluctantly or under pressure. {2 Corinthians 9:7}
- Give generously to the poor. {Deuteronomy 15:11}
- Give compassionately to those in need. {Romans 12:13}
- Give secretly without letting others know. {Matthew 6:1}
The Law of Petition… How to Pray for Your Needs
The following are some conditions on which successful prayer depends:
- Is your request within the will of God? {1 John 5:14}
- Have you confessed and repented of any known sin in your life? {Psalm 66:18-19}
- Instead of desiring your own will, are you willing to accept God’s will with a submissive heart? {Mark 14:36, Philippians 4:6-7}
Blessings to you,
Coach Megan 🙂
