The Bible has a lot to say about money and possessions. Jesus said more about money or possession than heaven and hell combined. Of the 38 parables Jesus taught over the 4 gospels, 16 deal with money; 10% of verses in the 4 gospels deals with financial matters-that’s 288 verses in the 4 gospels that deal with financial matters.
This week we look at the parable of the prodigal son. Did you know that the word prodigal means “waster of money”? Check out the story in Luke 15 starting at verse 11. It’s pretty interesting that when Jesus wanted to share the story of someone wandering from God, He chose someone who struggles with using money wisely! What does that say to us today? Especially in light of our culture that lacks discipline in spending, uses up resources, and wastes money and resources with giving it much thought.
Most of us are not at a place of looming financial disaster. But the problem for us is more linked to the fact that the more we make, the more waste. We get to the end of year, and we ask “where did it all go?” It’s not that we waste money on big items; it’s really the cumulative effect of small expenses.
The two areas where many waste small amounts that really add up are:
Impulse buying- think how easy it is to buy $40 of stuff you don’t need at the grocery store. Spending $40 just once a month leads to nearly $500 of waste in spending per year.
Check out this link on Yahoo on how to avoid impulse buying.
http://shine.yahoo.com/event/financiallyfit/5-tricks-to-avoid-impulse-buys-2403767/
Eating out- the average American family eats out 3 times a week! Just cutting back to 2 times a week, we could probably save $30 a week! That really adds up too.
Every dollar wasted is a dollar that could be used for something more meaningful.
So how do we avoid this? Clarify your life purpose and clarify your relationship with your money and possessions.
What is your life purpose? The great writer George Bernard Shaw states it this way…“This is the true joy in life, the being used for a purpose recognized by yourself as a mighty one.” Do you have a “mighty” purpose?
The Rev. Adam Hamilton says it this way “The Bible tells us that we were created to care for God’s creation. We were created to love God and to love our neighbors as ourselves. We were created to care for our families and those in need. We were created to glorify God, to seek justice, and to do mercy. Our money and possessions should be devoted to helping us fulfill this calling.
We are to use our resources to help care for our families and others—to serve Christ and the world through the church, missions, and everyday opportunities. We have a life purpose that is greater than our own self-interests, and how we spend our God-given resources reflects our understanding and commitment to this life purpose or mission.”
Lastly, we need to clarify our relationship with our money. Remember if the resources are truly God-given, you are not the owner. You are just the manager. That means you are accountable for how you use your resources.
So to fulfill you mission, you need a plan, a budget.
Remember these Proverbs…
The plans of the diligent lead surely to abundance,
but everyone who is hasty comes only to want. (Proverbs 21:5)
Precious treasure remains in the house of the wise,
but the fool devours it. (Proverbs 21:20)
Here are some key Biblical principles related to money. You can summarize them by realizing they center around the principles – Give, Save, Live
A. Six Financial Planning Principles (from Rev. Adam Hamilton)
The following financial planning principles can help us to manage our money with wisdom and faith:
1. Pay your tithe and offering first.
Put God first in your living and your giving. Give your tithe and offering from the “top” of your paycheck, and then live on whatever remains.
2. Create a budget and track your expenses.
Creating a budget is simply developing a plan in which you tell your money what you want it to do. Tracking your expenses with a budget is like getting on the scales: It allows you to see how you are doing and motivates you to be more careful with your expenditures.
3. Simplify your lifestyle (live below your means).
4. Establish an emergency fund.
An emergency fund is an account separate from checking or long-term savings that is set aside specifically for emergencies. Dave Ramsey recommends beginning with $1,000 and building that to three months’ worth of income.4 When you have this amount, you won’t need to use your credit cards anymore.
5. Pay off your credit cards, use cash/debit cards for purchases, and use credit wisely.
As you are building your emergency fund, begin to pay off your credit card debt and start using cash or debit cards for purchases. Some experts suggest starting with the credit card that has the highest interest rate. Others suggest paying down the smallest debt first, experiencing that victory, and applying your payments from the first card to the second, and so on, creating a snowball effect to pay off the cards as soon as possible. Cut up your cards as you pay them down so that you are not trapped or leveraged by your future for present-day pleasure, as the prodigal son was. If you must use a credit card, such as when traveling or making purchases online, be sure to pay off the debt monthly. If you are unable to do this, then it is better for you to cut up your cards and stop using them altogether.
6. Practice long-term savings and investing habits.
Saving money is the number-one wise money management principle everyone should practice. We do not save merely for the sake of saving. There is a word for that: hoarding. Hoarding is frowned upon in the Bible as the practice of fools and those who fail to understand the purpose of life. Saving, on the other hand, is meant to be purposeful. There are three types of savings we should have: 1) emergency savings, 2) savings for wants and goals, and 3) retirement savings.
Our hope is simply that First Church WIRED can be just one more voice, encouraging you to adopt Biblical wisdom when it comes to your finances. Remember you are the manager, not the owner of these resources. What would God have you do with what He has given you?
Check out a little wisdom from the shaker song, Simple gifts – written by Elder Joseph Brackett
'Tis the gift to be simple, 'tis the gift to be free,
'Tis the gift to come down where we ought to be,
And when we find ourselves in the place just right,
'Twill be in the valley of love and delight.
Let us all find the joy that comes from simplicity and generosity.
