The Problem Areas:
The biggest problem that people face in money and money management is not so much with the quantity of money they have but how they manage it. There are certain principles of money management that many people neglect.
Another area of concern for Christians is prosperity theology. You know, these are the people that say if you give to their ministry God will multiply your wealth. Don’t fall into this teaching.
A big problem is having the credit/spend mindset. This is also linked to having too many credit cards, and with high balances.
Among Christians, there sometimes can be wrong teachings about tithing. Related to this is that some Churches and Christians are hung up on the teaching of Malachi 3:8-10, which states, “Will a man rob God? Yet you are robbing Me! But you say, ‘How have we robbed Thee? In tithes and offerings. You are cursed with a curse, for you are robbing me, the whole nation of you.'” This verse from the Old Testament is taken way out of context as applies to the Church of today.
Building Block Number Seven: Practice biblical principles of wise money management and be a giver, not just with money, but also in practical ways.
* Be responsible in using money so that you will avoid waste and poor stewardship.
* Don’t have more than one or two credit cards. Keep the balances relatively low. Ideally, pay them off at the end of each month to avoid interest. If that is not possible, at least pay much more than the minimum payment.
* Save money regularly.
* Give generously to your local church, charities, or any other worthy causes or people in genuine need.
* Be disciplined in your spending. Distinguish between wants and needs. Save up for something you really need, instead of going in debt to obtain it.
* If at all possible, other than paying rent, avoid assuming monthly payments over the long term.
* Realize that giving does not just mean giving monetarily. There are many practical ways to help people that don’t involve money.
Foundational Scripture Verses for money management.
Matthew 25: 26-29, and 35; Hebrews 13:5; II Corinthians 9:6-11 and 8:2-3; Luke 6:38, 12:15 and 14:28; Deuteronomy 16:17; Psalm 41:1-3, and I John 3:17. Get out a Bible and look up these references.
Self Evaluation Questions:
1. Can you list three things to avoid in managing your money well?
2. List three principles of good money management that you want to start applying right away.
3. What are some ways other than money that you can be a giver to other people?