Dear Roger and Brie,
I can hardly check the news, go to the grocery store, or get a tank of gas without huge
anxiety. My family and I are barely making it financially after the last four years of
inflation. And now? We’re facing the addition of tariffs that will increase the prices of
foreign goods—many of those have been the cheapest available.
I don’t know what to do. It’s not just the economic situation; it’s the deep fear I feel about
it every day. I know God says He will provide for our needs, but I can’t see that right
now. Please help me!
Sincerely, Lynne
(Brie) There’s not one of us who escaped the impact of inflation over the past four
years. With two kids in college, one daughter getting married, and buying $6/dozen
eggs, we are stretched beyond I could have imagined! I understand where you’re
coming from—and I’ve been struggling with financial anxieties, too.
My dad, Roger, was one of the best stewards I’ve ever met. He was extremely careful
with finances, walking with biblical principles and trusting God to provide. When I was a
child, I remember him counting out dollar bills from a white envelope to pay for supper.
The other day, Mom found his financial logbooks, and I was totally inspired!
So today, I’d like to share the financial principles he lived by, as well as the practical
application he used daily. They’ve helped me greatly, especially during the economic
uncertainty we’re experiencing. I know they’ll help you!
(Roger) How can we survive economic setbacks? Do you fear the economic future of
our country? There are only two approaches for meeting future financial needs including
emergencies.
One way is to save a part of every dollar of income that comes into our hands to meet
those needs.
Another approach is to spend all we make as we make it.
Principle #1: Spend according to your existing resources, not your desires
Solomon says, “Finish your outdoor work and get your fields ready; after that, build your
house” (Proverbs 24:27). This economic principle is simple: “Begin your financial
planning on the basis of your financial resources, not on your desires.”
Too often we’re seduced into asking questions like: “What do I want? “What does my
peer group say I should have?” “What is fashionable?”
We would do better to ask questions like: “What resources do I have?” “What can I do
with the resources that I have?” “What buying power do I have?” “What earning power
do I have?” When we take this approach, we will allocate our resources rather than
attempt to pay for our desires. If we go through life attempting to pay for our
desires, we will ultimately crash and burn.
(Brie) I was intrigued by Vladimir Putin’s 2022 comments regarding our dysfunctional
US government’s inability to properly resolve the problem of our increasing national
debt. He called us a parasite on the world’s economic system. He said that by our
inflated, national debt and outright luxurious selfishness we are holding the rest of the
world economically hostage. He was not impressed … I read last week that Xi Jinping,
China’s leader, wholeheartedly agrees.
Since the early 1920s, our country has increasingly built our economy on what we
desire rather than on what we can afford. Our standard of living has so far outstretched
our ability to pay that we’re risking national revolt as we try to take back some of what
we’ve given away.
Think Social Security and Medicaid. Think entitlements. Think “pork” included in every
bill that comes to Congress. Think about the fear and anger directed at any potential
austerity or “efficiency” measures.
(Roger) Going into debt, not because of need, but because of desire, is not only a
national issue, it’s personal as well. Sheikh Fazaga proclaimed: “The fact that you
could not control your desire, there is the problem. Part of having good character
is to control your desires, not to let them control you.”
We’ve created a society where it is possible to live on the basis of our desires instead of
our resources. We do this though credit cards. We desire a new flat-screen smart TV.
We don’t have the money; but, instead of saving up for one, we buy it on credit. But,
why let that stop us? We end up with a giant television in our dens by somehow ignoring
the pressure of a monthly payment at 19% interest.
We have just lowered our standard of living—but most Americans don’t seem to catch
on to what the long-term result of that home theater system in the den does to them
financially.
Principle #2: Avoid credit card debt; the bills always come due.
(Roger) What a shame we can’t print money like the federal government! But because
we can’t print money, our alternative is to secure every credit card in sight and use them
to the limit. However, we’ve just put off the inevitable. Bills always come due.
For centuries people were evaluated on the basis of how well they managed their
resources to help others. That came way before the modern-day concept of spending it
all on ourselves.
A friend shared with me that in Judaism the Talmud says that a person was judged on
how well he managed his “kiso, koso, and ka’aso.” That is, his “wallet, his cup (alcohol)
and his anger.” Because the Torah requires Jews to make provision for those less
fortunate, interest payments on credit cards could interfere with that moral duty.
Credit cards are permissible for Muslims only if the user pays off the balance each
month before finance charges begin.
What about the Bible? Solomon says: “The rich rule over the poor and the borrower is
servant to the lender” (Proverbs 22:7).
It is not a problem for us to owe money as long as we pay it back in timely
fashion—and it does not interfere with things we should be doing: like building up
our emergency fund, or having money for our children’s tuition, or making our next car
payment, or having enough money to take a sick child to the doctor.
(Brie) God never intended for His people to live in financial bondage. People who are
over their heads in debt live in constant fear that their car is going to be taken away, or
that they can’t make their house payment, or that they can’t pay the minimum monthly
required on their credit cards. Talk about stress!
(Roger) A large manufacturing firm opened a new assembly plant in an underdeveloped
Latin American country because labor was cheap and plentiful. The plant successfully
opened, and the operation was progressing smoothly, until the first paycheck. The next
day, none of the villagers reported for work.
Management waited one, two, three days. Still no villagers came to work. The plant
manager went to see the village chief to find out the problem.
“Why should we continue to work?” the chief responded, “We have already earned all
the money we need to live on.” The plant stood idle for almost a month.
Then, someone came up with the idea of distributing cellphones to all the villagers,
complete with apps and ads. Their vocabulary was enriched with two new words:
“Credit Card.” Since that time there has not been an unemployment problem.
Principle #3: Take control of your finances with a budget.
(Brie) This principle changed my life. My dad gave me a budget worksheet when he
started my allowance at age 8. However, I didn’t use a budget until I got into some
credit card debt in my early twenties—and I was stressed to the point of stomach ulcers.
I used that simple budget worksheet for years, climbing out of that debt inch-by-inch.
Today, I LOVE the budget app my husband and I use together.
(Roger) Solomon says, “Be sure you know the condition of your flocks. Give careful
attention to your herds” (Proverbs 27:23).
Since we don’t have flocks and herds, let’s consider some things we do have, like
money, savings accounts, stocks, bonds, a house, a car. We take control of our
finances by knowing exactly where we stand. In other words, everybody needs a
budget!
Solomon goes on to say, “For riches do not endure forever, and a crown is not secure
for all generations” (Proverbs 27:23). In other words, if we don’t know where we’re
going, then we’re will not be secure; we will not succeed financially.
This means that we must have some kind of budgeting system to keep accurate track of
expenditures and income. The word “budget” seems to scare many Americans. They
see it as putting a limit on their freedom—instead of seeing it as a way to ensure
financial freedom.
Charles Dickens, the 19 th century English novelist, knew about living with out-of-control
finances. He wrote: “Annual income $20,000, annual expenditures $19,000, result
happiness. Annual income $20,000, annual expenditures $21,000, result misery.”
I used to think that only the poor and middle classes needed a budget. Now I am
convinced otherwise. Those who have more than enough money are often very poor
managers of what they have. When sports stars or celebrities live gold-plated-twenty-
four-carat lives, they might do well to reflect on the blessing they could have had if they
invested in drilling clean water wells for the parasite-sickened thirsty people in the
Sudan.
Principle #4: Take the fear out of finances by saving for the future.
(Roger) Solomon says, “Go to the ant, you sluggard; consider its ways and be wise! It
has no commander, no overseer or ruler, yet it stores its provisions in summer and
gathers its food at harvest” (Proverbs 6:6-8).
What does the ant do that we are to emulate? It stores food for future consumption.
What the ant does instinctively, we must do voluntarily. We are not forced to do it. We
must do it by choice and to do that, we must act against the instincts of our old sin
nature.
If we save, we are wise. If we don’t, we are foolish.
We take the fear out of finances by saving for the future. Solomon says, “In the house of
the wise are stores of choice food and oil, but a foolish man devours all he has”
(Proverbs 21:20).
A wise man does not spend all of his income as he earns it. He saves some of it for
future consumption. The fool consumes all of it as it comes in.
(Brie) So WHY do we save? And WHAT should we save for?
The Bible teaches that in lean economic times, we must help provide for those
less fortunate. Paul the apostle wrote: “If anyone does not provide for his relatives, and
especially for his immediate family, he has denied the faith and is worse than an
unbeliever” (1 Timothy 5:8).
The Greek verb translated here as “provide,” is hard to translate into English; however,
it includes the idea of “taking thought in advance … to anticipate … to think
beforehand.”
Paul is saying that the Christian who fails to anticipate the financial needs of his
family and to provide for them is violating the commands of the Christian faith.
Then, he took this principle a step further when he wrote: “After all, children should not
have to save up for their parents, but parents for their children” (2 Corinthians 12:14).
When you make your budget, create clear-cut financial goals like for retirement, family
inheritance, or funding your children’s education. A great goal is to provide greater
financial security for your family by building up an emergency fund. We would be wise
not to make any long-term, illiquid investments until we have an emergency fund in
cash, in a safe place, available without loss of interest or penalty. Many people
recommend at least three months’ salary. Some recommend six months’ salary. In
today’s economic climate, I recommend at least that.
We have to save now for our family’s future financial needs.
(Roger) We do well to ask ourselves two questions: “Am I anticipating my family’s future
financial needs and setting aside the money to meet those needs?” Or do I just hope
that the money will be there when the need arises?”
Principle #5: Follow the Seven Biblical Financial Pillars.
(Roger) We know we are following good biblical economics when these seven financial
pillars are firmly entrenched in our financial plans and practices. These principles, with
slight adjustments, will work in anyone’s financial plan regardless of socioeconomic
position, age, or current financial situation.
Foundation Stones for A Biblical Financial Plan
1. Return the top 10% (tithe) of your paycheck to God (Proverbs 3:9-10; Malachi 3:6;
and Luke 11:42). He is your provider, and He promises to honor your obedience.
2. Regularly and honestly pay taxes to the government (Matthew 22:21; and Romans
13:1-7).
3. Spend less than you make (Proverbs 21:20).
4. Anticipate and save for the future financial needs of your family (1 Timothy 5:8).
5. Stay out of debt on depreciating items (Psalm 37:21; and Romans 13:8).
6. Save part of every paycheck to build up an emergency fund to pay for future (usually unexpected) needs (Proverbs 6:6-8).
7. Regularly give to those less fortunate than you (2 Corinthians 8:14 and 9:10-11).
Principle #6: Pray for guidance and peace.
(Brie) You don’t have to handle your finances alone! God promises to walk beside us in
every step of the Christian life. Take the time to pray about your financial situation
every day. Ask God for wisdom. Trust Him for His leading. He will guide you through
His provision and His peace.
I love what a wise man named Agur prayed in Proverbs 30:7-9:
“Two things I ask of you, Lord;
do not refuse me before I die:
Keep falsehood and lies far from me;
give me neither poverty nor riches,
but give me only my daily bread.
Otherwise, I may have too much and disown you
and say, ‘Who is the Lord?’
Or I may become poor and steal,
and so dishonor the name of my God.”
There’s so much truth here. Too much can be as great a struggle as not enough. Asking
God to provide “just enough” leads to freedom!
Principle # 7: Pursue contentment.
(Brie) The apostle Paul wrote: “Godliness with contentment is great gain. If we have
food and clothes, we shall be content with that” (1 Timothy 6:6-8).
Handling finances is HARD. God never, ever promised that it would be easy. However,
He does promise that He will supply for our needs. When I struggle with financial
issues, I always go back to Jesus’s teaching in Matthew 6:
“Therefore I tell you, do not worry about your life, what you will eat or drink; or
about your body, what you will wear. Is not life more than food, and the body
more than clothes? Look at the birds of the air; they do not sow or reap or store
away in barns, and yet your heavenly Father feeds them. Are you not much more
valuable than they? Can any one of you by worrying add a single hour to your
life?
“And why do you worry about clothes? See how the flowers of the field grow.
They do not labor or spin. Yet I tell you that not even Solomon in all his splendor
was dressed like one of these. If that is how God clothes the grass of the field,
which is here today and tomorrow is thrown into the fire, will he not much more
clothe you—you of little faith? So do not worry, saying, ‘What shall we eat?’ or
‘What shall we drink?’ or ‘What shall we wear?’ For the pagans run after all these
things, and your heavenly Father knows that you need them.
But seek first his kingdom and his righteousness, and all these things will be
given to you as well.
True wealth comes from trusting God to provide for you and pursuing His will for
your life above all things.
Well Lynne,
I hope these financial principles help you. I think that handling finances is one of the
biggest, most difficult challenges of the Christian life; and yet, when you put in the effort
to be a good steward, you will reveal the heart of God. Be encouraged!
Love,
Brie (and Roger)