“You will either learn to manage money or the lack of it will manage you.”
– Dave Ramsey
Are you feeling like you can never get ahead financially? According to MarketWatch over half of Americans are living paycheck to paycheck. Statista reports that almost 70% of Americans have less than $1,000 in savings. You don’t have to live this way. You don’t have to feel the weight of money problems pulling you down. Take control of your finances. Here are 5 tools to give you traction on your road to financial freedom.
“But if any provide not for his own, and specially for those of his own house, he hath denied the faith, and is worse than an infidel.” 1 Timothy 5:8 Saving is not an option if you want to get ahead. You feel the urge to spend first but it is your responsibility to take care of your family. Determine to save this week. If it’s $20, save $20. If it’s $100, save $100. Get in the habit of saving.
“Do not save what is left after spending, but spend what is left after saving.” – Warren Buffet
2. Pay off debts
“The rich ruleth over the poor, and the borrower is servant to the lender.” Proverbs 22:7 The average credit card debt for a family in the U.S is $6,270. The average car payment in America is $563. If you made the choice to go to college and had to take out loans, your average student loan debt is over $32,000. Bad debt will hold you back. A purchase just came into your mind when you read bad debt. Sell it. Pay it off. Don’t be a slave to your lender.
“Good debt is a powerful tool, but bad debt can kill you.” – Robert Kiyosaki
“Give, and it shall be given unto you; good measure, pressed down, and shaken together, and running over, shall men give into your bosom.” Luke 6:38When you choose to give, you are showing that money is not your god. You are showing that you esteem somebody over yourself. You are communicating your heart to store up treasures in Heaven.
“Life’s persistent and most urgent question is ‘what are you doing for others.?'” – Martin Luther King Jr.
“Charge them that are rich in this world, that they be not highminded, nor trust in uncertain riches, but in the living God, who giveth us richly all things to enjoy;” 1 Timothy 6:17 You have been given money to enjoy. Solomon, Job, King David, Abraham, and Joseph were all extremely prominent in their communities and were financial giants in their time. Money is not the problem, money only reveals what’s in your heart. So enjoy it! Take a vacation! Enjoy what God has given to you.
“Wealth is not his that has it, but his that enjoys it.” – Benjamin Franklin
“That they do good, that they be rich in good works, ready to distribute, willing to communicate;” 1 Timothy 6:18 When Paul wrote to Timothy regarding the wealthy in his church, he instructed the wealthy to be ready to distribute and willing to communicate. Get around some people who have been successful with their finances. Talk to that couple who are generous givers, listen to podcasts, look up all the verses in the Bible on finances. Be ready to learn.
“Rich people have small TVs and big libraries, and poor people have small libraries and big TVs”. – Zig Ziglar