Hello !
On Sunday, we talked about reigning over our finances. It's one of those topics that can be easier said than done. After all, we live in a world where we constantly have temptations to spend thrown at us.
Not only is it difficult not to spend, but it's hard to save and invest, too. Will I ever be like the servant who invested his master's money and made a 10x return??
Now, I'm no Dave Ramsey but I manage to keep myself out of debt, grow my savings, and do some investing, and I do it with a pretty modest income. So, I thought I would share with you 5 of my favorite tips for reigning over money.
Here they are:
Number 1: Spend less than you earn. I know this sounds like a no-brainer but half of all Americans are in credit card debt. Realistically determine the level you can afford to live at, then live well below that.
Number 2: Get out, and stay out, of debt. If you have credit card debt, and you're tempted to buy something, send the purchase price to your credit card company instead. Having debt is like paying 20% more for something. It's bondage. Being debt free is freedom!
Number 3: Automate your savings. This keeps me from spending my money before I have a chance to save any of it. I personally like to use Capitol One because it allows me to create sub accounts to save for specific things (like car, emergencies, clothes budget, etc). And it all happens before I have a chance to spend it on something I don't need.
Number 4: Invest. I know the thought of investing can feel intimidating, but it's actually pretty simple. There are apps you can download and just buy a stock or two. Schwab even lets you buy a fraction of a share of a stock so you can start investing with 5 bucks. Just do it and future you will thank you!
Number 5: Tithe. Something happened in my finances when I started tithing to my church. I can't even really explain it other than that the Lord started blessing them. I started becoming more disciplined with my spending, I found financial favor, and I gained an eternal perspective for money. Tithing is an investment in the Kingdom and is an essential part of reigning over our finances.
I hope these help. Don't forget, our very own Lynda Carlson is offering free financial counseling to our Mercy Vineyard family. Take advantage of that if you want to learn from a real pro!
You rock.
See you Sunday!
Living a passionate mission,
Lee Bezotte
Lead Pastor, Mercy Vineyard Church
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