In my last post on “What I Don’t Regret Putting On My Wedding Registry” I said that I would share what things we REGRETTED getting when we were first married.  I want to share them here and then move one to what we have since learned and put into practice in our marriage.

  1. Furniture, vacuums, pots and pan sets and vehicles on a “Buy at 0% interest for however long” payment plans.  We have since learned not to boast ourselves of tomorrow for we truly do not know what a day may bring forth.
  2. Multi-level-marketing businesses and other business plans that lure people in by how much money they will make and how soon they can retire.  If you look at the facts of those involved in those business models you will see the following verse comes true time and again.  “He that hasteth to be rich hath an evil eye, and considereth not that poverty shall come upon him.” Prov 28:22
  3. FAFSA, Sallie Mae and Other Student Loan debt.  There is no other business like the college business that will get you into $50K or more unsecured debt and you don’t even realize it.  They don’t show you the cost.  They show you how much you qualify for.  Then one day you graduate and you realize you have a loan the size of a mortgage, and very often a degree that won’t get you a job that earns enough to pay it off and still be financially independent.  (I talk about this more in the rest of the post.)

Things like the wrong color towels or falling for decor trends aren’t really mistakes that stick with you.  Donate them to a second hand store and move on.  They don’t make it onto the list of things we regret.  The things listed above are big ticket items that stick with you for years.

Now, what we have learned since then changed our lives and have provided so. much. peace.  That is why I am passionate about sharing them. 

Here are the “10 Money Habits of Faithful Stewards.”

1.FOCUSING ON EMPLOYABLE SKILLS BEFORE FOCUSING ON A HOME

“Prepare thy work without, and make it fit for thyself in the field; and afterwards build thine house.” Prov. 24:27 KJV

This season of life gives me quite a bit of perspective.  I have quite literally accomplished all (and then some) of the goals that I dreamt of as a girl.  You know what I realized.  I have come right back to where I started.  I live in a home with a family who loves me.  My bills are paid.  My biggest question is “What am I going to do to make the most of my time with the people I love?”

Yet when I was younger, I remember dreaming of getting out of my home and renting an apartment with all of my friends and … oh yeah, wondering “What can I do for fun with the people that I loved?”

Sure there were the day-to-day things of serving in church and desiring a husband to grow old alongside, but in reality I spent every day with people.  I forgot that the people I worked with and the people I lived with and the people in my family were “my life.”  My life wasn’t “someday.”  It was already happening.

What does that have to do with money?  Well, your life is probably not so bad just the way it is.  Utilize the time when you live with family and focus on building a skillset.  Also, don’t be in such a hurry to get a home of your own.  The Bible says it is wiser to “prepare thy field without” and that gives the illustration of preparing for provision and food.  Get your finances in order.  Use your time to develop a paying skillset.  I did an entire video series on this on Youtube. 

I truly believe in this biblical principle and think it a shame that the people of the world are wiser in this regard than the children of God.  Especially when God has spent a lot of time talking about finances.

This leads me to the next point.

2. LEARN, CONTINUE TO LEARN, LEARN INDEPENDENTLY THEN LEARN SOME MORE

And so he that had received five talents came and brought other five talents, saying, Lord, thou deliveredst unto me five talents: behold, I have gained beside them five talents more. His lord said unto him, Well done, thou good and faithful servant: thou hast been faithful over a few things, I will make thee ruler over many things: enter thou into the joy of thy lord. Matt 25:20-21 KJV

One of the things about being a Christian is that God puts an emphasis on personal growth.  In the parable of the talents, God also tells us to increase our talents.  The world is catching up with the Bible and Forbes recently put out an article documenting why “The Most Successful People Never Stop Learning.”  God also says that the wise man increaseth in learning.

One of my life goals is to be like Daniel and for my children to be like he and his friends as well.  They were chosen and thereby influenced an ungodly leader specifically because they were wise in languages, mathematics, sciences and their wisdom exceeded the Chaldeans.  Christians should excel.  Then as they excel in knowledge and understanding as opportunities arise the will have the know-how to seize the day.  

As they seek to grow and seek to be diligent in their business, they will also make better financial / business connections.  Not that I AT ALL promote laboring to be rich, the fact remains that the rich get richer just as much because of their networking connections as their hard work.  

3. MAKING FRIENDS IN THE BUSINESS WORLD

And I say unto you, Make to yourselves friends of the mammon of unrighteousness; that, when ye fail, they may receive you into everlasting habitations. Luke 16:9 KJV

Seest thou a man diligent in his business? he shall stand before kings; he shall not stand before mean men. Prov 22:29 KJV

Isn’t it odd that God says that we aren’t to serve mammon (or money) but then he says to make friends of “mammon of unrighteousness” when giving a parable about financial stewardship?  This is because God consistently is a God of balance.  When we take the effort to meet people who are successful in character and successful in business, it will create business and employment opportunities for you or those you know. 

Not only that, like Paul, we can use our connections to share the gospel.  He was thankful that he was in prison in the household of Caesar specifically because of the influence of the gospel that could be made.

The trick here is to not fall in love with money.  Fall in love with the gospel.  Fall in love with truth. But be a good steward of your time and opportunities.

NOTE: I believe there are more important things in life than climbing the business ladder.  Time for church, family and rest are Scriptural high priorities.  But if you have to work multiple jobs to make ends meet, chances are that you would have more time for church, family and rest if you practiced these first four principles.

4. THEY AREN’T WASTEFUL OR LAZY

He also that is slothful in his work is brother to him that is a great waster. Prov 18:9 KJV

Do you know why most people don’t grow in their knowledge, opportunities or financial stability?  I’ll give you two guesses. 😉

I remember when I was a young wife and I would set out meat to thaw for dinner that night and then I would get involved in something creative or fun and then when dinner rolled around I thought “Let’s just get pizza, or McD, or eat cereal.”  If this happens too many days in a row that meat goes bad.  This scenario happened more than once and then this Proverb popped up in my daily Bible reading and God smote my heart.  I was being a great waster AND slothful.  

The same can be said for redeeming the time. 

Some things that I have learned that have been helpful financially:

  1. Cutting our family’s hair
  2. Web design (It saves us so much money to do this ourselves and the skill is transferrable if I need to use it in a workplace.)
  3. Graphic design (So far I have designed six book covers, and not only for our family. It has saved (and made) us hundreds of dollars per book.
  4. Cooking healthy on a budget.
  5. Bookkeeping (This was my trade, but it is also helpful with taxes for a small ministry / business).
  6. Painting (Not my favorite thing, but it does save money when things in the house need touched up.)
  7. My husband learned how to replace the brakes in our cars and other minor repairs.
  8. Sprinkler maintenance and yard work. (Although, I wouldn’t MIND paying someone for this.)

I am sure there are more things we all can industriously learn and do ourselves to help save money.  Be a faithful steward of your time, not slothful or like a great waster and it will be pleasing in the eyes of the Lord.

 

5. THEY STAY OUT OF UNSECURED DEBT

Be not thou one of them that strike hands, or of them that are sureties for debts. Prov 22:26

This particular biblical principle was something that was never taught to my husband or I.  I vividly remember calling “older-wisers” asking about financial decisions and they hemmed and hawed and seemed to not want to say “This is a bad idea.”  I think now that it was probably because they thought it was a bad decision, but hadn’t been taught from Scripture that God says we ought not do it.

The word “surety” is defined as a collateral.  Meaning if I don’t pay my mortgage you can have my house (the surety.)  But if you don’t pay your upside down car loan (meaning the debt is more than the value of the vehicle and thereby “unsecured”) … YOU are the surety for the debt.  You are servant to the lender.  Do a study in Proverbs on the words surety and it is eye opening.

I write more about this in my book “Faith In Finance – Peace With or Without Prosperity” and what we learned when we were in the midst of a recession and unable to sell our possessions to get out of our financial bonds.  It was in the midst of that anxiety I asked the question “How does God provide?”  In this book I share the biblical principles of God’s provision and also how God brings peace when we are good stewards of His principles.

While I am not a huge fan of Dave Ramsey’s emphasis on laboring to be rich, I do appreciate that he points out over and over the dangers of unsecured debt and student loans.

6. THEY STAY OUT OF CO-SIGNING SITUATIONS

A man void of understanding striketh hands, and becometh surety in the presence of his friend. Prov. 17:18 KJV

My son, if thou be surety for thy friend, if thou hast stricken thy hand with a stranger, Thou art snared with the words of thy mouth, thou art taken with the words of thy mouth.  Prov 6:1-2 KJV

This same principle goes hand in hand with the previous one.  Don’t get into unsecured debt and especially don’t sign up with someone else to be the security for THEIR debts.  Proverbs 6 gives quite the description of how God says we are to respond if we have foolishly made the mistake of co-signing.  He says in principle, “Work as hard as you can to pay off that debt and get out of the situation.”

This leads to the next point:

7. THEY DON’T TAKE ON SECURED DEBT WITHOUT A PLAN TO PAY IT OFF 

The rich ruleth over the poor, and the borrower is servant to the lender. Prov. 22:7 KJV

I actually have a list in my prayer journal of things I would rather do than to “as soon as humanly possible” get out of unsecured debt.

Here is my list of “I would rather”  than “pay off our mortgage 5 years faster.”

  1. Have a McD caramel frappe once a month.
  2. Spend my evenings with my family rather than my husband have an additional job.
  3. Live in a safe neighborhood where my children can play.
  4. Have freedom of my own time on the weekends.
  5. Braces for my children’s teeth.
  6. Have staycations and events with my children while they are growing up.
  7. Eat 20 years of delicious home-cooked meals with a normal (not beans and rice) food budget.

That being said, when interest rates plummeted we took advantage of the opportunity to refinance our home loan (without taking a home equity loan) and were able to knock five years off our mortgage simply by being able to get rid of mortgage insurance and have a lower interest rate.

The mortgage loan officer said almost in disbelief, “You mean you aren’t taking any cash out on the equity of your home?” Nope.  We are content with what we have.  Hey!  That leads to the next point.

8. THEY FOSTER CONTENTMENT WITH WHAT THEY HAVE

Let your conversation be without covetousness; and be content with such things as ye have: for he hath said, I will never leave thee, nor forsake thee. Heb 13:5 KJV

But godliness with contentment is great gain 1 Tim 6:6 KJV

And he said unto them, Take heed, and beware of covetousness: for a man’s life consisteth not in the abundance of the things which he possesseth.” Luke 12:15

There are so many things pressing us to want the next thing.

  1. Consumerism, merchants and endless marketing.
  2. The idea that prosperty = success.
  3. A pleasure seeking personality that gets endorphins from purchases.
  4. Lack of purpose in the here and now.
  5. Thinking joy is somehow found in something other than the presence of the Lord.
  6. The eyes of man are never satisfied.

One of my favorite things about having lived in a small house with one bathroom and five young children was that it taught me the freedom of having less.   

What we really need is more:

  • face-to-face human interaction,
  • more creativity,
  • more reading,
  • more dinners at home,
  • more walks around the neighborhood,
  • more ministering to the needy neighbor and
  • more nights singing and playing games with family and friends.

These are the good things.  Invest in these things.  Be content with these things.  Then …

Do you know what contentment leads to … eventually … over time?  Savings.

9. JUST BECAUSE THEY HAVE IT DOESN’T MEAN THEY SPEND IT

“There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up.” Prov. 21:20

This is nearly the last point and for good reason.  This is that section where if ye “be not weary in well doing ye shall reap if you faint not.”

Usually when we are first starting out in our journey of financial independence, we don’t seem to have very much money and it all seems to be spent.   But then as we get a little farther along in life and our job experience develops, so does our income. 

Then our children leave the home and all that money that went to their food probably gets spent a little bit on hiring people to help us do what our children once did around the house and yard.  LOL.

But seriously, if we develop these “Money Habits of Faithful Stewards” and diligent about our business and there isn’t a war or government interference in our daily lives, USUALLY we end up with a surplus.  This isn’t the end goal, but very often it does happen in a free-er market.

But the wise man doesn’t let that money burn a hole in his pocket.  Neither is he a hoarder.  This is where we finally get to do more than survive.

Here are some things the Bible says the wise man does with his “extra money.”  I encourage you to look up the verse in the KJV and add them to your toolbox of biblical principles.

  1. They give to those in need – 1 Timothy 6:17-19
  2. They lend unto the poor (without expecting anything in return on earth) – Prov 19:17, Matt. 5:42, Prov 3:27
  3. They create an opportunity for others in need to earn or buy what is in the wise man’s surplus. Prov 11:26
  4. They save some as a means of “defense” or “insurance” while still not trusting in uncertain riches for their safety.  Eccl. 7:12, 1 Tim 6:17, Prov 27:1
  5. They habitually save for future purchases (like a car that will run longer than a year). Prov. 30:24-45, Prov. 6:6-8 KJV
  6. Know where their money is and are diligent about bookkeeping. Prov 27:23-27 KJV
  7. Enjoy the fruits of their labor because it is the gift of God. Eccl 3:13, 5:19

When we were struggling financially during the recession, one of the ways God did provide (and it is very humbling) was through the good works of others.  It wasn’t particularly comfortable, but it honestly is very biblical.  It brings God glory, lays up rewards in heaven for the givers and teaches the receivers the importance of one day being givers themselves.

10. THEY TRUST GOD

Trust in the LORD with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge him, and he shall direct thy paths. Prov 3:5-6 KJV

The things that I have written here are counter cultural, but still biblical.  I hear people share with me how “good Christians didn’t abide by these principles and they are fine.”  But I will say this over and over.  I am not a pragmatist.  I am a bible believer.  The exception to the rule doesn’t nullify the truth of Scripture.  Happy is the man that trusteth the Lord.

I didn’t give my opinion in this post.  I shared loads of Scripture and references.

When I first embarked on the study of “How does God provide?” one of my major concerns was if I “needed” to leave my young children in day care and go back to work.  You will have to read my book to see which Scriptures guided us in our decision process, but I do remember that it wasn’t a popular decision.

Yet, I cried unto the Lord, “Psalm 31:1-3 “In thee, O LORD, do I put my trust; let me never be ashamed: deliver me in they rightousness.  Bow down thine ear to me; deliver me speedily; be thou my strong rock, for an house defence to save me. For thou art my rock and my fortress; therefore for thy name’s sake lead me, and guide me.”

I will never regret trusting God’s way. The good fruits extend to my marriage, my children and my testimony for God.

I hope and pray that you trust God and His word and practice these principles.  

Melissa

 

ALL IMAGES PROPERTY OF: Melissa Schworer