Do You Feel That You Just Don’t Know Enough About How to Handle Money to Get Ahead?

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Here are a few steps to take to manage your finances successfully.

You’re not alone. Recently, I wrote a column for Fox News on what the Bible can really teach us about money. I highlighted the startling statistic that almost 8 in 10 people say they never or rarely balance their checkbooks, let alone take the time to get educated about finances.

I’ve found that step one in learning about money management is to open your Bible. And here is some of what you can learn:

First, ignorance is NOT bliss. Ignoring how much you are spending or being unaware of where your money is going will not alter painful realities. The Bible puts it like this, “Be sure you know the condition of your flocks, give careful attention to your herds; for riches do not endure forever, and a crown (or job) is not secure for all generations.”

Next, debt is death to a budget. In a healthy budget, consumer debt takes no more than five percent of income. Proverbs 22:7notes, “The rich rule over the poor, and the borrower is slave to the lender.”

And remember, God calls us to be generous to others. The Bible is very clear that we are to share our resources with those around us.

And lastly, make sure you are saving in the good times. With all the talk of safety nets and government run social programs in this election year, it’s easy to forget that making preparations for the future is a job given to everyone, to the best of their ability. To be ready for a crisis, follow Joseph’s advice in Genesis 41, who advised saving 20 percent in the good years to be ready for the tough years. 

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