ACCOUNTABILITY MATTERS: Developing Discipline in Personal Finances
The Oxford Dictionary defines discipline as the practice of training people to obey a set of rules or code of behavior. We have developed discipline in how we prepare for the day, how we study and complete assignments, in our approach to work, how we take care of our homes, etc. However, discipline in finances is an area that we usually develop later in life and it typically comes about after a financial hardship.
Have you ever been in a position where you had a debt that may have been overwhelming? Well, you may have said, Lord once I get out of debt, I will never let this happen again. The unfortunate reality is that getting back into debt is inevitable without discipline and the wisdom to do better.
Why is it so hard to become disciplined when it comes to handling our finances? Some problems require an expert to resolve. When you have an issue with your water, you call a plumber, when you have an issue with your lights, you call an electrician. Dealing with issues in finances is no different. However, shame, embarrassment, and pride often prevent us from getting the help that is needed. As believers, the first step to getting help with any issue is to seek God so that He can direct our path. The word of God gives us biblical principles on how to develop discipline in our finances. Here are a few to get started:
B y: V i c t o r i a C o r p r e w
1. Live Within Your Means
• Proverbs 21:20 –“ The wise store up choice food and olive oil, but fools gulp theirs down.” Learn the discipline of saving instead of spending all we earn. It’ s important to set money aside for emergencies. When we are disciplined in saving a portion of our income, we will be ready when emergencies or unexpected things happen.
2. Avoid Debt
• Proverbs 22:7 –“ The rich rule over the poor, and the borrower is slave to the lender.” God never intended for us to live in bondage and that is exactly what it is when we are dealing with debt. Using cash whenever possible and reserving credit cards for emergencies is a discipline that will help us avoid debt.
3. Work Diligently
• Proverbs 10:4 –“ Lazy hands make for poverty, but diligent hands bring wealth.” Consistent and ethical work will help attain financial stability. We all have those days when we do not want to work. However, the Bible also tells us that if you don’ t work, you will not eat( 2 Thessalonians 3:10).
4. Be Generous and Trust in God
• 2 Corinthians 9:6 –“ Whoever sows sparingly will also reap sparingly, and whoever sows generously will also reap generously.”
Giving is part of financial discipline We trust that God will provide. 5. Plan and Budget
• Luke 14:28 –“ Suppose one of you wants to build a tower. Won’ t you first sit down and estimate the cost to see if you have enough money to complete it?”
Planning and budgeting are crucial for financial success. Impulse buying will get us into trouble! This is not to say that you can’ t have some of the things you want but we must first focus on our needs first then plan for our wants. Ultimately, we are first accountable to God with our finances. When we seek God’ s guidance, we will develop the discipline to make wise financial decisions. We can also seek God in directing us to someone who is able to provide practical support. Whether that person is a coach, finance professional, a financially successful mentor, we should have a trusted person who will hold us accountable and provide good financial advice which will ultimately help us to become more disciplined with our finances.
Remember, Matthew 6:33 –“ But seek first his kingdom and his righteousness, and all these things will be given to you as well.” When we seek God diligently, He will provide. It is never too late to make a change and develop financial discipline. We were never meant to be burdened by bills and debt. God give us the wisdom that we need to become more disciplined in our finances so that we may be able to focus on the things you would have us to do and live the abundant life that you desire for us.
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