In 2 Kings chapter 4, we learn about the widow who sought to recover from the loss of her husband. She was faced with the challenge of losing her sons to those creditors who had been instructed to recover the debts left by her husband. She turned to Elisha the prophet and, in spite of his surprising advice to find and fill jars with her oil, obeyed. The result? Her debts repaid and a household enjoying financial recovery.
We may wonder what she spent the money on or what her children asked her to buy, but whatever her circumstances, families in Bible times did not have supermarkets with tens of thousands of items from which to select or the internet with its easy-to-buy online purchasing systems – nor did they have to face adverts at every turn!
If we are not to fall into the trap of being ‘slave to the lender,’ we must give serious consideration to planning what we spend, not extending secured borrowing to the limit, and reducing any unsecured debt.
Start making a plan
Whatever your income and expenditure, having a plan should be a priority. Self-control starts with developing a realistic and balanced income and expenditure plan that you can use to introduce discipline into your spending – especially where you might be tempted to spend beyond your means. Creating a plan is the first important step to getting control of our finances. If you have ‘no problem’ with your monthly finances maybe you could look at your giving, or even at how you might reduce your outgoings. If you are having difficulty make sure you are not heading towards the day when the threatening letter arrives!
It is important to take time to record and analyse your income and expenditure, being sure to you record all payments whether through your bank account, card accounts or cash.
Next make a list of everything you owe – is there anything overdue?
Finally, look at the number of cards in your wallet or purse. If any of them has money outstanding for more than two months the card is not serving you, you are serving the card company – and probably paying them at least 18 per cent interest!
You should complete the remaining daily studies before finalising your spending plan. Meanwhile, take some time to study your expenditure patterns and think about what you can reduce or eliminate. Pray through how you handle your finances and, like the widow and her plea to the prophet, call out to God and ask Him for his wisdom and help.
Learning to be content
The apostle Paul wrote in 1 Timothy 6:8, “if we have food and covering [clothes and shelter], we will be content with that.” But, our consumer society does not want us to be content. Are there elements of your spending where you are conformed to the ways of this world? For example, a mobile phone is now deemed an absolute necessity and yet the monthly cost can easily be £30 or more; and cable television with its hundreds of channels is regarded as a household essential in many homes. Again, Paul wrote in Philippians 4:11-13, “I have learned to be content whatever the circumstances. I know what it is to be in need and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want.”
Paul learned to be content. He was not born with this instinct and neither are we; we must intentionally develop it.
Avoid coveting
Coveting means craving someone else’s property, and Scripture prohibits it. The last of the Ten Commandments is, “You shall not covet your neighbour’s house. You shall not covert your neighbour’s wife, or his manservant or maidservant, his ox or donkey, or anything that belongs to your neighbour.” We could paraphrase this commandment to read: “Do not allow your eyes and mind to stray to other women or men, or to anyone who is married; and do not desire to have a car or house like theirs, the technology they have, or holidays like they take.”
We should not use comparison to justify spending more than we should. Many people have suffered financially because they insisted on ‘keeping up with the Joneses’ even though they could not afford to. Someone once said, “You can never keep up with the Joneses. Just when you thought you’d caught up, they go deeper into debt to buy more stuff!”
“God can have our money and not have our hearts, but he cannot have our hearts without having our money.”
“I am always content with what happens, for I know that what God chooses is better than what I choose.”
BIBLE VERSES
Make it your ambition to lead a quiet life, to mind your own business and to work with your hands, just as we told you, so that your daily life may win the respect of outsiders and so that you will not be dependent on anybody.
1 Thessalonians 4:11-12
Then some soldiers asked him, "And what should we do?" He replied, "…be content with your pay” (emphasis added).
Luke 3:14
And I - in righteousness I will see your face; when I awake, I will be satisfied with seeing your likeness.
Psalm 17:15
Father God, thank you that however I get into any financial problems; that when I turn my life around to You, you will provide a way forward – like you did for the widow. She chose to pray and when the answer came along – she listened and obeyed and eventually enjoyed freedom from debt and worry. Forgive me when I have been discontent, jealous and coveted possessions. Help me Lord to discipline myself and face these issues now and take an honest look at why, how and what I’m spending my income on. To write it all down, as a useful tool to allow me to see the truth of my position and then pray again for your wisdom. When I get fearful about all this – help me to keep living in Your love which throws out all fear and then I am able to persevere with my plan to get to financial freedom.