January 10, 2021

A Spending Plan

Written by Boyd Bailey

Thoughts from daily Bible reading for today – January 10, 2021  

The plans of the diligent lead to profit as surely as haste leads to poverty. Proverbs 21:5 

What is your spending plan? For example, you may be in a financial wilderness. If so, seek the wisdom of what the Bible says about managing money. Perhaps you create a savings plan and if necessary, downsize your lifestyle to lower expenses. If possible maintain and even increase charitable giving. Sometimes it is necessary to seek help from a seasoned financial manager, one with objective advice and strategies for your season of life. 

Avoid debt. There is no freedom or liberty to be found in financial leverage, only obligations and payment plans. Debt is unemotional and uncaring when it decides to call your loan, or make new demands you are unable to fulfill. So start immediately and implement a plan to pay down your debt. Begin by paying off the credit card with the smallest balance, and perhaps decrease your credit cards to just one and pay off the balance monthly. Eradicate your mortgage by the time your children start college, and you will have added margin for their extra educational expenses. Delayed gratification is a discipline God blesses. 

Turn to Christ instead of credit, and watch Him create opportunities you never conceived. Waiting to pay in cash is an exercise in faith, and a refraining of the flesh. A smaller home and older car, with peace and contentment, is much better than more, with regret and restless nights. Debt free living liberates your life and increases your generous giving. 

“Owe no one anything except to love one another, for he who loves another has fulfilled  the law” (Romans 13:8 NASB)

Get rich quick schemes only feed greed. In God’s economy it is the one who diligently deposits smaller amounts in a secure place that reaps rewards. It is wise wealth that makes the first 10% of their income a gift offering in the form of a tithe to their Heavenly Father and the second 10% an investment in their future. Money obtained by vanity is spent on vanity, but money gained by hard work and honesty is retained for growth. 

It takes discipline to not spend all our earnings in an instant. Commercials and our opportunity to consume exploit our emotions. Culture sucks us in to spend not all we have but more than we have, so be on guard with a simple system for savings. For example, set up an automatic draft from each paycheck that goes straight into a savings account. Preserve this cash, and one day your financial fruit tree will become an orchard. 

Look to the Lord as your provider and see yourself as a steward of His stuff. God’s desire is growth in your financial security, so you are free to give more and serve others. 

“Dishonest money dwindles away, but he who gathers money little by little makes it grow” (Proverbs 13:11).

Prayer

Heavenly Father, show me how to organize my finances in a way that honors you, cares for my family and gives generously to others, in Jesus’ name, amen.


Application

Who is a good model of wise money management who can coach me in best practices?


Related Reading

Psalm 128:2; Jeremiah 17:11; Ephesians 4:28; James 5:1-5

Start the new year with Boyd’s newest 365 day devotional book: Seeking God’s Heart


Worship Resource

5 minute video- Andrea & Virginia Bocelli: 


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