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Faith & Finances: Setting the Course
Pastor Gary Westra
Many people are experiencing financial challenges. They are facing growing debt, little or no savings, inadequate income, and no plans for their financial future. Surveys reveal that more than half of all divorces are a result of financial tension in the home.
The Bible has the answers to these financial difficulties—it contains more than 2,350 verses dealing with money and possessions. In fact, Jesus Christ said more about money than almost any other subject.
It is important for Christians to be able to recognize financial bondage, but it is equally important to know how to achieve freedom. Financial freedom manifests itself in every aspect of lives—relief from worry and tension about overdue bills, a clear conscience before God and before others, and the absolute assurance that God is in control of our finances. This is not to say that our lives will be totally void of any difficulties in the area of finances. God does not promise to remove every difficulty, but no matter what circumstances are encountered God promises peace.
How can we achieve financial freedom? What must we do according to God’s plan?
1. Transfer Ownership
Christians must transfer ownership of every possession to God. This means money,
time, family, material possessions, education, even earning potential for the future. This is essential to experience the Spirit-filled life in the Kingdom of God.
O my people, listen! For I am your God! …all the world is mine and everything in it. No, I don't need your sacrifices of flesh and blood. What I want from you is your true thanks; I want your promises fulfilled. I want you to trust me in your times of trouble, so I can rescue you and you can give me glory. Psalm 50:7, 12-14 (Living)
If we are going to be genuine followers of Christ, we must recognize we are care takers of what God has provided, not owners.
Look here, you people who say, "Today or tomorrow we are going to a certain town and will stay there a year. We will do business there and make a profit. How do you know what will happen tomorrow? For your life is like the morning fog—it's here a little while, then it's gone. What you ought to say is, "If the Lord wants us to, we will live and do this or that." Otherwise you will be boasting about your own plans, and all such boasting is evil.” James 4:13-16 (NLT)
It is important to understand and accept God’s conditions for His control (see
Deuteronomy 5:32-33). God will keep His promise to provide every need we have through physical, material, and spiritual means, according to His perfect plan.
It is simple to say that we will make a total transfer of everything to God, but it’s not so simple to do. At first, we will experience some difficulty in consistently seeking God’s will in the area of material things, because we are so accustomed to self-management and control. But financial freedom comes from knowing God is in control.
What a great relief it is to turn our burdens over to Him. Then, if something happens to the car, we can say, “Father, I gave this car to You; I’ve maintained it to the best of my ability, but I don’t own it. It belongs to You, so do with it whatever You would like.” Then look for the blessing God has in store as a result of this attitude.
2. Become Debt Free
Scriptural debt. Debt exists with any of the following conditions.
- Payment is past due for money, goods, or services that are owed to other people.
- The total value of unsecured liabilities exceeds total assets. In other words, if you had to cash out at any time, there would be a negative balance on your account.
- The family’s basic needs are not being met, producing anxiety in the area of financial responsibility.
Steps to Becoming Free from Debt
Wealth from get-rich-quick schemes quickly disappears; wealth from hard work grows.
Proverbs 13:11 (NLT)
a. Have a Written Plan
A written plan is an absolute necessity for everyone who is in financial bondage.
Use a written plan of all expenditures in their order of importance. The order of
importance is crucial because we have lost the point of reference between needs, wants, and desires. Let’s examine the differences between a need, a want, and a desire.
Needs. These are the purchases necessary to provide basic requirements, such as food, clothing, a job, home, medical coverage, and others. “If we have food and covering, with these we shall be content” (1 Timothy 6:8).
Wants. Wants involve choices about the quality of goods to be used: dress clothes
versus work clothes, steak versus hamburger, a new car versus a used car. These verses give a point of reference for determining wants in a Christian’s life: “Your adornment must not be merely external—braiding the hair, and wearing gold jewelry, or putting on dresses; but let it be the hidden person of the heart, with the imperishable quality of a gentle and quiet spirit, which is precious in the sight of God” (1 Peter 3:3-4).
Desires. These are choices according to God’s plan that can be made only out of
surplus funds after all other obligations have been met.
“Do not love the world nor the things in the world. If anyone loves the world, the love of the Father is not in him. For all that is in the world, the lust of the flesh and the lust of the eyes and the boastful pride of life, is not from the Father, but is from the world” (1 John 2:15-16).
b. Determine Essentials for Living
What I’m expressing is an attitude of conservatism. Begin to eliminate expenditures that are not essential and remember that many expenditures are assumed to be essential only because of our society. Fifty years ago almost all the labor supplied in the home was done by family members—not professionals who charged for it.
Christians who are in bondage must begin to assess what things they can do for
themselves and stop the frivolities.
c. Think Before Buying
A Christian who is in debt (and even those who are not) should think before every
purchase (see Proverbs 24:3). Every purchase should be evaluated.
- Is it a necessity? Have I assessed whether it is a need, a want, or a desire?
- Does the purchase reflect my Christian ethics? (For example, Playboy magazine does not reflect Christian ethics.) Can I continue to subscribe to magazines or belong to book, CD, or movie clubs while I owe others?
- Is this the best possible buy I can get, or am I purchasing only because I have this credit card?
- Is it a highly depreciative item? Am I buying something that will devalue quickly? (Swimming pools, boats, sports cars all fall into this category.)
- Does it require costly upkeep?
d. Discontinue Credit Buying
As soon as they needed something and lacked the cash to purchase it, out came the card. The principle to observe is this: If you are in debt from the misuse of credit, stop—totally stop—using it. Cut up the cards and mail them back to their respective companies and ask them not to send you any more. Once good habits have been developed and the bondage from the misuse of credit cards has been broken, then evaluate the feasibility of converting assets to pay off the debts.
e. Avoid Leverage
When in debt, avoid the use of what is called leverage. Leverage is the ability to control a large asset with a relatively small amount of invested capital. For example, if you bought a piece of property that cost $10,000 and required $1,000 down, that represents a nine-to-one lever. You have invested 10 percent of your money and borrowed 90 percent.
f. Practice Saving
The average person saves less than one percent of their income and 35% of all adults have no savings whatsoever. A Christian should practice saving money on a regular basis. This includes those who are in debt. Even if it is only $5 a month, develop a discipline of saving. To get out of debt a Christian must utilize these points we’ve just discussed. There is no alternative under God’s plan for being debt free.
3. Establish the Tithe
But remember: anyone who sows sparsely will reap sparsely as well—and anyone who sows generously will reap generously as well. 2 Corinthians 9:6 (NJB)
Every Christian should establish the tithe as the minimum testimony to God’s
ownership. It is through sharing that we bring His power in finances into focus. Giving draws our hearts toward Christ and develops Godly character. In every case, God wants us to give the first part to Him, but He also wants us to pay our creditors. That requires establishing a plan and probably making sacrifices of wants and desires until all obligations are current.
4. Accept God’s Provision
Often Christians lose sight of the fact that God’s will can be accomplished through a withholding of funds; we think that He can direct us only by an abundance of money. But God does not choose for everyone to live in great abundance. This does not imply poverty, but it may mean that God wants us to be more responsive to His day-by-day control.
Each Christian must learn to live on what God provides and not come under the pressure brought on by driving desires for wealth and material things.
5. Keep a Clear Conscience
A Christian must have a clear conscience regarding past business practices and personal dealings.
6. Put Others First
A Christian seeking financial freedom must always be willing to put other people first. This does not imply that a Christian has to be a floor mat for others; it simply means that he or she shouldn’t profit at the disadvantage of someone else. Again, the key lies in attitude.
7. Limit Time Involvement
“Do not weary yourself to gain wealth, cease from your consideration of it. When you set your eyes on it, it is gone. For wealth certainly makes itself wings like an eagle that flies toward the heavens” (Proverbs 23:4-5). Many Christians are trapped in this cycle of over commitment to business or money pursuits. It’s important to remember that the priorities God sets for us are very clear and that
every Christian who seeks God’s best must understand God’s priorities.
The first priority in a Christian’s life is to develop his or her personal relationship with
Jesus Christ.
The second priority of a Christian’s commitment is to family, which includes teaching
them from God’s Word. Christ deserves the best part of our day. If you find that your family time together can take place best between 8:00 and 9:00 in the evening, commit that time to God. Turn off the television, have the children do their homework early, and begin to study the Bible together. It is important for the whole family to understand God and to pray together. Pray for those in need too. Help your children become aware that Christians in the Kingdom of God, are intercessors, we pray for others and expect God to answer.
The third priority in a Christian’s life should be church activities, social groups, work,
and all the hobbies that he or she might have.
8. Avoid Indulgence
The range in which God’s will can be found is between Luke 9:23 when Christ said, “If anyone wishes to come after Me, he must deny himself, and take up his cross daily and follow Me” and John 6:27: “Do not work for the food which perishes, but for the food which endures to eternal life.”
Does your lifestyle fit within this range? Are you willing to trust God and deny yourself some indulgences? As you do, He will supply you even more. Unfortunately, most of us are self-indulgers rarely passing up a want or desire, much less a need. But, in light of the needs around us, it is important that Christians assess their standards of living.
9. Get Christian Counseling
“Without consultation, plans are frustrated, but with many counselors they succeed” (Proverbs 15:22). Many Christians become frustrated in financial planning because they lack the necessary knowledge and then give up. God has supplied others with the ability to help in the area of finances. Seeking godly counsel can help us avoid costly mistakes.
10. Called to Be Care Takers: to manage ourselves and our resources in service to God, our families, our neighbors, and ourselves. Realize that all we possess is to be used to serve God, and for that we say, “Thank you, Jesus.”
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