It is very important that as Christians we become wise in handling and managing our money. Here are some basic principles on how to manage your money, and how to make a budget for your incoming and outgoing money. These principles are keys that Pastor Corey learned and developed over the years and the Lord helped him to come out of nearly $45,000 of personal debt. Pastor Corey is a living testimony that these principles work when put into practice.
Below are seven myths (wrong mindsets) about money:
Money Myth
- “More money will solve all my problems.”
- “Following a budget inhibits my freedom of choice.”
- “I look at the money I have to determine my future spending.”
- “I spend according to my needs.”
- “Going into debt gives me choices now instead of having to wait.”
- “Money is very valuable.”
- “My present financial situation is a result of circumstances and events beyond my control.”
True Financial Principle
- Lesser outgo than income will solve your money problems.
- Following a budget brings greater control over important choices.
- The remaining balance of your money cannot forecast the unexpected.
- Most people spend according to their wants (emotions).
- Going into debt now decreases your future options.
- Money can only be exchanged for things of real value.
- Your present financial situation is a direct result of decisions You’ve made and the money principles You believe.
People say, “Well, I am a Christian and I live by faith. Do I really need to live on a budget and control my spending?” The answer is, “YES!” If you do not control your money, your money will control you. Money is a wonderful servant, but terrible master. Budgeting, even for a super faith-charged believer, is Scriptural:
Plans (budgets) are established by counsel; by wise counsel (budget) wage war. — Proverbs 20:18
The plans (budgets) of the diligent lead surely to plenty, but those of everyone who is hasty (without a budget), surely to poverty. — Proverbs 21:5
Where there is no revelation (vision, budget), the people cast off restraint (control, boundaries); but happy is he who keeps the law (the budget). — Proverbs 29:18
“Write the vision (budget) and make it plain on tablets (paper), that he may run who reads it (the budget).” — Habakkuk 2:2
