Christian Money Management is the Key to Debt Solutions.
Christian money management education is a must for any individual or couple who wants to gain control over their debt. In fact, of all the teaching that is done “to us”, managing our money is one of the gapping holes in all of our learning. And it doesn’t matter if you are single, married, in college or still a teenager, we all suffer from a lack of good money managing skills.
So it is up to us to take control of our own financial management plan and learn the basics that will ensure that we understand credit, debt, budgeting and spending. If we don’t, no matter how much work we do to eliminate our debt, we will fall right back into the same debt trap we have worked to get out of.
So what are the basics of good Christian money management?
First, you have to get on a budget that helps you understand where your money is, where it is going and how you can plug up any holes that are letting your hard earned cash leak away. This will let you maximize getting out of debt and just as importantly, staying that way.
Next once you are out of debt, protect your credit at all costs. If you can’t stop spending on credit cards, then don’t take them with you shopping. If you still can’t stop, get rid of them.
After that you need to build up your cash reserves that will be there in an emergency. How much? Well that’s up to you and what your financial goals are. But you should consider, if you lost your job, how long would it take to replace?
Along the same lines as reserves, you need the rainy day fund. Think about the potential big expenses in you could run into. Whether it is an accident in your car or a major appliance breaking down, do you have enough in your savings to cover at least one of these common occurrences?
And lastly, as a Christian, you have to educate yourself about what is important in your life. All of your money management problems can be solved when you have buying “things” in the right perspective. Knowing what is important will stop those out of control spending sprees and the impulse “just gotta have it” buys that can take all of your attempts to manage your money.
With just a small amount of Christian money management education and a few simple tool and worksheets, you can be a pro at keeping your personal finances in check and on track!
Trust me, if I can do it, so can you.
Chad