God’s word encourages us to live debt-free lives – Romans 13:8 says that we should not leave any debt outstanding, and Proverbs 22:7 reminds us that borrowing makes us like slaves to our lenders. His word is also clear that when we borrow, we are responsible to repay every cent.
But when it comes to getting out of debt, taking the first step can feel overwhelming. It creates so much fear, anxiety and stress that we just want to ignore it. The problem is that it continues to add up with more debt and more interest. But we are here to help and to assure you that the process isn’t as scary as you may think.
The Debt Snowball Method takes away the stress of trying to create a plan on your own, and instead gives you a debt-payoff plan to save you time and money. It helps you steward your debt wisely by reducing the amount you pay in interest and increasing the speed at which you pay off your debt.
It works by paying off your smallest debt first. You continue to make minimum payments on all your debts, but you put any and all extra money towards your smallest payment. Once it’s paid off, you “rollover” what you were paying on that first debt, apply it towards your second debt until it is paid off, and so on, until you are debt-free! It tackles your debt one step at a time. The method is simple and easy to use. Sure, it will require discipline and commitment, but it is definitely worth the effort!
As you work to pay off your debt, it’s important to remember that you’ll be faced with challenges and temptations. That’s why you start with the smallest balance first, instead of the highest interest rate. Seeing an entire debt eliminated helps keep you motivated and excited for your next victory.
And getting started is simple! These easy-to-follow steps will help you create your plan to living a debt-free life:
It’s important to budget for the minimum payments you have right now. Since the minimum payment is a percentage, usually 1-2%, of your total principle, every time you make a payment, the minimum payment on your statement decreases. If you decrease your minimum payment every month, you won’t make as much progress. Instead, follow your plan! The calculator has done all the work for you.
Imagine all the freedom you’ll experience and memories you’ll make when you’re not stressed about your debt anymore!
Keep in mind that it’s normal to face frustrations and temptations along the way. When you do, or if you mess up, just adjust and keep going.
We are excited for you as you embark on your journey to living a debt-free life! And don’t worry, it may seem overwhelming, but we’ve got you covered with a mini-course that walks you through how to become (and stay) debt-free, step-by-step! Sign up for 5 Steps to Debt-Free Living mini course today! It’s free!
For most people, learning — at least, intentional learning — ends after college. They toil through their high school and university years, maybe pursuing an advanced degree. But once they’ve accepted that final diploma, their learning days are done. Or so they think.
In reality, we learn all the time. Every work assignment and every new challenge in life teaches us something. But most of us stop seeking learning opportunities after our formal educations end.
That’s been the traditional paradigm for decades. Our parents’ and grandparents’ generations lived by this model: go to school, get a job, stay with the same company for your entire career. The world changed slowly, and the knowledge you gained in school remained relevant throughout your career. Under that model, continuing education doesn’t make much sense. There was no need for it.
But we live in a very different world, one that changes much, much faster. Failing to pursue new learning opportunities today is a huge mistake — one I’d like to help people avoid.
A Harvard Business School professor once told me that the shelf life of a modern college education is three years. Three years. After that, all the techniques and data you learned as a student will be borderline obsolete.
That doesn’t mean a formal education is useless, however. As Astro Teller, CEO of Alphabet’s (Google’s parent company) X program, told students at Stanford, the most valuable skill you learn in college is how to learn. That one skill will help you pivot as your industry evolves and you’re forced to explore new opportunities in a rapidly changing work environment.
This new paradigm puts a great deal of responsibility on workers. Making it through a degree program is no longer enough to be guaranteed a job. You must seek constant opportunities to learn and grow if you want to remain employable. While that may sound cumbersome and frightening, it’s also reality. As former U.S. Army Chief of Staff Gen. Eric Shinseki once said, “If you don’t like change, you’re going to like irrelevance even less.”
To stay competitive, you must stay sharp. The next time the economy shifts and your company’s leadership looks to make cuts, they’re going to evaluate which employers have the tenacity and motivation to keep up with the company’s changing needs and which ones have been complacent. If you’re not among the former, you will find yourself on the outside looking in.
But continuous learning doesn’t just make you more employable. Let’s look at how it positively impacts many areas of your life.
The brain is a malleable muscle. It gets stronger if you exercise it, and it atrophies if you don’t. This has implications not just for your ability to create value in a professional setting, but for your health as well. Older adults who live sedentary lifestyles and don’t regularly engage their minds are more susceptible to Alzheimer’s disease and dementia, so it’s extremely important that we stay mentally sharp throughout our lives.
Research indicates that too much TV time can contribute to neurological deterioration as well, so replace even an hour of TV-watching with a massive open online course (MOOC) from organizations like EdX or Coursera. Not only will you put yourself ahead in the job market, you’ll be doing your future self —and your family — a favor. If you’re not sure where to start, check out Crown’s Career Boost Formula – 14 Career Skills Employers Look For. That’ll help you zero in on an area that interests you and boost your career.
Constant learning makes you more confident in your knowledge and abilities. The next time you’re at a networking event, you won’t stammer over your words as you try to think of something insightful to say about an industry trend. You’ll have been following recent developments closely, so you’ll be ready with an opinion to share.
When your team encounters a problem, you’ll bring valuable insights and ideas to the issue because you’re studying the latest trends and techniques. Having this knowledge at hand helps you come across as current and confident, and people will naturally want to work with you.
Of course, they might also tease you before they realize the value of your ongoing learning strategies. I’ve had people question why I participate in MOOCs or why I spend so much time reading and studying. “You’re not getting paid to do that!”, they say. But a time will come when I’ll need to draw on that knowledge, so I don’t let myself slack just because it’s not “part of my job”. My job is to learn new information all the time so I can evolve into a better leader, a better husband and father, and a more well-rounded person.
Most importantly, continuous learning allows you to be prepared at all times. If a crisis hits, you don’t have time to go home and hit the books. You must make decisions based on the information you have right now. I want my information to be as high-quality and up-to-date as possible.
The more you learn, the more innovative you become. As problems or challenges arise, you’re able to think differently and devise creative solutions that could lead to your business’s next breakthrough. An issue that might have stumped you six months ago now seems like an exciting opportunity, thanks to the programming language you’ve been studying or the marketing course you just completed. When you introduce great ideas, you get to work with a wider array of talented people at your organization. Those peers will challenge you to grow and can serve as powerful mentors and connections throughout your career.
Continuous learning also makes you more interesting. No one wants to make small talk for hours at a conference or networking event. They want to talk to dynamic people who share interesting perspectives and an energizing outlook. If you’re always learning, you’ll always bring value to a conversation. People will seek you out because of this trait, and you could find yourself encountering a broad range of new opportunities simply because you’re proactively engaging with the world.
Preparedness is one of the best reasons to always be learning. When a new position opens up at your company or a friend tips you off to a great job at another organization, you want to jump at those opportunities. New jobs often bring increased earnings, better benefits, and a chance to stretch yourself in rewarding ways. However, you’ll have a tough time qualifying for those jobs if you’ve simply been showing up and doing what was required of you, nothing more. Losing a desirable position, and its associated benefits, due to a lack of preparedness is very painful. Don’t miss out because you were complacent and unmotivated.
It helps alleviate everyday stress. If I come to the office feeling disconnected from what’s happening in our industry and am scrambling to get notes together for a meeting, I experience high levels of stress and frustration. But if I have stayed on top of my duties, have been reading the latest books and reports, and have sought out information relevant to my company, I feel calm and happy. I’m confident in my ability to deliver value and I don’t worry about a problem catching me off-guard. Stressed leaders tend to be bad decision-makers, and I don’t want to hurt my company just because I’m unprepared. Continuous learning stacks the deck in your favor, whether you’re an employee or a boss.
Lifelong learning matters to both your professional and personal lives. As a leader, as a spouse, and as a parent, I’m much different today than I was in my early twenties. I’m always growing and seeking new ways to improve, and my family life has become richer for it. For instance, I’ve learned so much from parenting my children. No two children, or adults, are the same. Each requires a unique communication and disciplinary style, and my relationships with my kids flourish when I am cognizant of that.
The more I learn about communication and how to empathize with and read people, the more rewarding my professional and family lives grow. Perhaps the most important lesson I’ve learned from each of these spheres is to never stop being curious. The second you stop being curious is the second you start taking your spouse for granted, missing out on milestones in your kids’ lives, and ignoring opportunities to forge better relationships with your peers. There is something to learn from every circumstance, and we must stay vigilant if we don’t want to miss the lesson.
Our spiritual journeys are all about growing closer to Christ and gaining a deeper understanding of Him and His will in our lives. Learning is inherent to that process, and we must stay humble in the face of all that we don’t yet know.
A lifelong learning practice helps us stay open to God’s message. I am much more attuned to how God speaks and moves in my life today than I was in my early twenties. I’ve exercised the muscles of faith and learning, so I feel much more capable of receiving His word than I did as a younger man. But I also realize there is still so much to learn about the God of this Universe.
Such connectedness requires intentionality; it won’t just happen because you want it to — and the same can be said for building a lucrative and satisfying career.
You may be surprised by this, but I carry a credit card. Many people ask my why I would endorse using a credit card because so many have been led to believe they’re evil and only lead to destruction.
I see it this way: credit cards, just like any other form of currency, are neither good nor evil. In their essence, they’re just a piece of plastic that allows the user 30 days of free credit. The real issue is two pronged: It’s how we use them that gives them purpose – to be productive or harmful. And, whether or not the user has self-control.
There are many horror stories of the misuse of credit cards leading to stress, anxiety, financial strain, and bankruptcy. These stories are heartbreaking and I am passionate about keeping people away from the dangers of financial bondage.
But I would suggest that the misuse comes from the one using the credit card, not the plastic itself. When you or I make a mistake with a credit card, it’s easy to blame it, to call it “evil”, and to write it off altogether.
The truth is, the root problem that motivates us to misuse the card is what’s evil.
The greed, insecurity, impatience or lack of self-control that prompts us to make unwise decisions is what needs to be written off, cut up, and cancelled. But in order to do that, we must align our hearts, not just our budgets, with Scripture.
See, our problems with money never stem from having too much or too little. Overspending, accumulating debt, or experiencing stress about money are just symptoms of the real root issues – our attitudes and beliefs. In essence, what you believe about money and how you behave with money needs to match up.
God deeply cares about you, and your finances. There are more verses in the Bible about money than there are about heaven and hell combined. Aligning your heart with Scripture will mean that your finances are likely to be in line with Scripture as well.
Matthew tells us, “For where your treasure is, there your heart will be also.”
So where do you take the first step? How do you start aligning your beliefs and behaviors about money with Scripture? Crown’s online MoneyLife Personal Finance Study was created with you in mind, to help you accomplish this. It takes a deep dive into what the Bible says about money, and how to take practical steps in all aspects of your finances – giving, saving, investing, and spending. It will help you understand not only how to use credit cards the right way, but how to have the right attitude towards your money in general.
Remember, the responsibility of a credit card lies with the user, not the issuer of the card, or the card itself. For this reason, my wife and I have strict rules about how we use our cards. Here are the guidelines we follow, and my advice for anyone looking to use a card the right way:
Having a healthy credit score is helpful when it comes to buying a house, or even applying for some jobs. But many people don’t understand their credit score enough to improve it. Our partners at Christian Credit Counselors created this ebook to help. It’s simple and easy to understand so you take the guesswork out of improving your credit.
But even if you follow all these guidelines, and end up with a perfect credit score, remember that your stewardship score is what really matters. I spent many years of my life striving to have the best finances, but was missing what really mattered. It was a Bible study like Crown’s online MoneyLife Personal Finance Study that changed the way I view and handle money forever. Going through a Crown study with my wife brought so much healing to our marriage, and finances. If you’re ready to take the next step towards finding freedom, enroll today.
As the New Year begins and we have time to reflect on all God has done in 2017, the most appropriate word to describe our past year would be impact.
The Crown team experienced God moving in impactful ways throughout 2017. God repaired broken hearts, set financial captives free, and spread the message of biblical financial stewardship to thousands of individuals and families. He worked in ways we hadn’t imagined and birthed initiatives that touched the lives of thousands.
One of the most impactful things we experienced in 2017 was the impact our partners, donors, and volunteers had on us. We couldn’t accomplish our goals without faithful supporters and partners in ministry. Their encouragement, prayers, and support propelled us forward personally, spiritually, and through the ministry.
Each year Crown hosts an annual Gathering for staff, volunteers, ministry partners, board members and leaders who are passionate about Crown’s mission. In addition to sharing remarkable ministry reports and updates from around the globe, we also enjoy very special moments to refresh our souls, renew friendships, and rekindle our excitement in the business of empowering faithful stewards. We also will look ahead into 2019 and share insights on what God plans to do in the future. We spend time truly celebrating the impact God has through Crown’s ministry.
The Gathering serves as our annual “investors’ report” for anyone who has been touched by Crown’s work over the years. And it is well worth the trip! Tucked away in the Blue Ridge Mountains just outside of Asheville, North Carolina, Gathering attendees experience stunning views and a relaxing environment at Ridgecrest Conference Center. With the venue’s close proximity to Asheville, and sprawling acres on-site, you can find activities for every taste.
And this year, we want you to join us. You’re invited to share in our celebration and reflection, October 18-21, 2018. Registration for the Gathering is already open, and now is the best price. You can register and learn more here. Come and see all that God is doing around the world!
The Crown team makes it a priority to “practice what we preach”, which means that we have an office full of brilliant budgeters, savers, and investors, all serving as faithful stewards, eager to hear the words, “well done, good and faithful servant”.
Because our staff is full of creative and practical ideas, we asked them to share some of their best savings and budgeting tips. Here are some of their answers.
Megan Buerkle, Career & Work Department: When you go out to eat, search the menu for what you think you want, and then pick something that’s $3 less. My husband and I do this regularly and save at least $6 per meal! We also Google coupons and use a particular store’s app to check for discounts or coupons before checking out.
Chuck Bentley, CEO: Set up an automatic withdrawal from your paycheck to a savings account, and adjust your tax withholdings so you have more cash in your account each month. Drive used cars, rent a car for long road trips, and have enough saved so you can take advantage of high deductible insurance coverage.
Amy Hubbard, Poverty Initiatives: Immediately transfer money to savings from every paycheck. Also check coupon apps like RetailMeNot before you check out at a store, or if you’re trying to decide where to take a group for lunch. Restaurant with the best deal wins!
Melinda Hayes, Client Services: Always plan ahead! Don’t go shopping without a list, don’t make impulse purchases, and answer these 3 questions before making any big purchases: 1) How often will I/we use this? 2) Do we have a place to store it? 3) Is it worth it?
Hannah Simic, Donor Development: Set a percentage of your budget to be allocated to savings. Also make a list of all your expenses (groceries, bills, etc.), and then ask yourself before making any purchase (even if it’s just a dollar), “Does this purchase honor God and help me stick to my budget?” My answer is usually no and I rarely feel like I missed out on something.
Jerry Tregea, Accounting: Make an annual budget and rigidly adhere to the plan. I like numbers, so ours has about 40 line items and I’ll sometimes challenge my wife and I to spend less in each category than we did in the previous month. We also never go grocery shopping when we are hungry, and pay attention to which stores have the lowest prices on groceries (it’s usually Aldi).
Tracey Fries, Executive Assistant & Event Coordinator: Start Christmas shopping early! During the fall festivals, hunt for unique and inexpensive gifts. Once your list has been checked off, you don’t need to shop the crazed sales!
Kim Cooper, Money Processing: Contact your cable company at least once a year and ask about “loyalty” discounts. Most of the time I have to tell them the maximum that I’m willing to spend, but if you stick to your guns, they’ll usually give you a better deal. They don’t want to lose a loyal customer!
Arielle Vogel, Digital Content: Find some budget-minded friends and help each other out! Text each other when you find good sales, and offer to pick up sale groceries when you’re already out. Sometimes buying in bulk at stores like Sam’s Club or Costco and then dividing it between households can save you a lot of money.
Heather Stanfield, Radio Ministry: Always research online for the best price. You would be surprised how much money you can save just by comparison shopping. And view the amount you have dedicated to monthly savings as just another bill. Pay yourself in a separate account that is set aside for emergencies or for a specific purchase.
What savings tip do you want to put into practice? Share your favorite tip with us by commenting below!
If you live in a large suburban city in the US, you’ve probably noticed the emergence of a new way to do your grocery shopping. Different stores have different names for the process (Kroger calls it “ClickList”, HEB refers to it as “Curbside”, and Safeway’s version is “Drive Up & Go”) – but the philosophy is the same.
Here’s how it works: You do your shopping online, browsing groceries and adding them to your digital cart. You select a timeframe to pick your order up, drive to the store, park in a designated spot, and they bring your groceries out to your car. You pay upon pick up or online, and many stores will load your groceries into your car for you, creating almost a “drive thru” grocery shopping experience. There are varying charges for the service based on the store, and many require you to place your order at least 24 hours in advance.
With an increasing number of companies moving towards automated and expedited customer service interactions, it’s no surprise that grocery stores are following suit. There’s no question as to whether the “click to cart” method saves you time (most customers save at least an hour) – but the real question is if it saves you money.
Many grocery shoppers claim that the service absolutely saves them money, but there are a few catches. Here are some pros and cons to help you decide if this service is right for you.
Even with the charge for the service, most people still spend less money using the pick up option. There are a few reasons why.
Most stores will offer substitutes for any products or produce you ordered that they are out of or don’t have in good quality. For example, if you ordered a box of conventional raspberries but they didn’t have any that were ripe, most stores would replace the box with a larger box or box of organic raspberries but only charge you for the original item.
If you use the store’s app, it’s easy to load digital coupons to your order and instantly save money. But since most stores let you pay when you pick up, you can also bring mailed or printable coupons with you that will save you more money as well.
The online shopping experience for most stores also makes it easier to find sale items and shop discounts. You don’t have to scan aisles looking for savings – you can easily compare prices (tag prices and prices per ounce/pound) online and pick the least expensive.
It depends on the store, but you will pay some sort of service or delivery fee. If you are a disciplined shopper and always stick to your list when shopping in the store, then you would simply be paying a premium for convenience.
Most click to cart services will only accept card, so if you’re an all-cash budgeter, this service wouldn’t work for you. It’s been proven that paying with cash means we will spend less of it, so you would have to forfeit that budgeting and savings strategy for this service.
This is both a pro and a con. As mentioned previously, if a store is out of a particular item, most will substitute it with something better or more expensive at no additional cost. However, this is would be inconvenient if you only purchase certain brands or flavors, or need to read the labels on products.
An important piece of information to keep in mind is that the grocers shop the day you’re scheduled to pick up, so if there was a sale on strawberries Thursday when you made your list, but the sale ended Saturday when you picked your groceries up, you’ll pay Saturday’s full price.
Some stores restrict what rebates you can redeem if you use their click to cart service. If you take advantage of rebates on a regular basis, check with the store’s policy on rebate redemption before using their click to cart service.
Ultimately, the answer depends on what kind of shopper you are, how you budget, and the store at which you’re shopping. If you never deviate from your list and stay under budget every month, a click to cart service would just cost you money. If you stick to an all-cash or partly-cash budget, the click to cart service would restrict the way you pay, and would not work well. And if your local grocery store doesn’t offer the service or charges too high of a service fee, then you’ll have to stick to grocery shopping the conventional way.
But for many others who can benefit from a distraction-free, user-friendly, convenient shopping experience, a click to cart solution will likely save you money.
Have you used a service like this? Share your experience and if it saved you money!
Do you ever feel like you worship your work, work at your play, and play at your worship?
Most people either see work as somewhat of a “necessary evil” to pay the bills and get by in life, or as their entire identity, the sole factor in determining their worth and value as an individual.
With all the distractions in life competing for our attention, we have largely lost our ability to “play” well. Instead of being active and lighthearted with others, we are isolated, competitive, and discontent behind screens.
The message of a “cheap” Gospel preached on Sunday mornings across the world has contributed to a culturally apathetic attitude towards Christ and His sacrifice on the cross. “Worship” has become centered around how an individual feels in a moment, not spiritual humility and thankfulness of our Savior.
Work was created by God to supply our physical needs, and should be a blessing to us. God charged Adam with work to take care of the earth and reign over the animals in Genesis, before sin had ever entered the world.
Work is a daily opportunity for us to exercise our God-given gifts and put spiritual principles to practice.
It’s where we look to the Lord, not man, for rewards.
Worship has been defined this way … “to honor with extravagant love and extreme submission.” So if God created us to work, and desires for us to honor Him in our work, how does that definition apply to our 9am-5pm grind? How do you worship God at work if you hate your job?
Work becomes worship when it’s done as an offering to God, not for our own benefit. When our hearts are so intertwined with His, then our place of work is His place, where we live out our faith in word and deed.
Os Guinness says gifts are not for ourselves but for God. We are just stewards, managers, of all he has given us, including our time, talent, and money. That means we should use our resources for the benefit of others to glorify Christ.
Colossians 3:17 reminds us plainly, “Whatever you do, whether in word or deed, do it all in the name of the Lord Jesus, giving thanks to God the Father through him.” Every project, task, and conversation you have at work should be done in the name of Jesus, to honor Him.
If you’re frustrated at work, remember that you’re not working for man, but for God. Be diligent and thorough with every task you’re given. It may be time for you to consider a career change, so you can use the gifts and talents God has given you more fully. The Career Direct assessment can help you understand who you are, what you are designed to do, and how God created you to work.
First Samuel says that to obey is better than to sacrifice. God cares about your work and has a good plan for your life. Obey God no matter the circumstances and trust that He sees you, your needs, and your desires. He has a purpose for your work, and it will require obedience and humility. Whatever you’re doing, be the best you can be at it. Have a great attitude about doing the things that are asked of you, and go above and beyond expectations.
Steward your work well – allow God to be the owner of your work, and see yourself as faithful manager. Worship while you’re at work. Worship while you play. And worship while you worship.
Your work is a special offering because God uniquely created you with special talents, interests, and personality. When you can connect your unique design to an actual career, it makes worshiping in your work all the better. If you’re struggling to know what your calling is, or are curious if you’re in the right job, I want you to take the Career Direct Assessment. It looks at all aspects of your personality to help you understand your God-given design and purpose.
What are some practical ways you focus your work on God?
Money is often cited as the greatest area of frustration, fighting, stress, and unhappiness in marriage. One spouse wants to budget, the other doesn’t. Neither spouse can agree on exactly how to spend their money or what to prioritize, so budgeting just leads to more arguments. Maybe just the word “budgeting” spawns fights between the two of you, and you’re not sure how to ever make your money and marriage work.
Well, let me tell you – marriage is not the cause of your budgeting problems – it’s actually the solution! Because of this, my wife, Ann, and I wrote a book together to help couples get their hearts united and their finances aligned. It is called, Money Problems, Marriage Solutions.
We need love and money but must know how to effectively manage each. A couple can have a great financial plan and solid budget but still be worlds apart in their heart and mind. External solutions do not address the internal problems that cause strife.
Thankfully, God gave us everything we need to make both work for a lifetime. So, no matter how deep the wounds or how wide the division, there is hope.
You know the saying, “opposites attract”? This rings true for my marriage. I sometimes say my wife and I are as different as a pitbull and a poodle. Her natural response to the world is 180 degrees opposite of mine. But I’ve learned that this is really to our advantage.
Imagine two people standing back to back. They don’t see the world the same way. Picture them interlocking arms. This simple gesture unifies two into one entity. Rotating, they have a complete view of the world. They become a 360-degree couple, capable of protecting and strengthening one another because they “have each other’s back”.
Study your spouse to understand how God uniquely created them. When two different personalities submit to God and His truth, the fruit of the spirit can flow from one another.
“Therefore, as God’s chosen ones, holy and dearly loved, put on compassion, kindness, humility, gentleness, and patience, bearing with one another and forgiving one another if anyone has a grievance against another. Just as the Lord has forgiven you, so you are also to forgive. Above all, put on love, which is the perfect bond of unity.” (Colossians 3:12-14)
When a man and woman get married, they’re not only bringing two different personalities, they bringing two different philosophies about money into the marriage. That’s why we fight so much!
Your money philosophy is shaped by your family, environment, experiences, and values. You may have a philosophy about to load the dishwasher, or fold the laundry, too! You and your spouse come from two different backgrounds, with different preferences or habits. When you get married, you put some of your preferences aside and agree on systems, or philosophies, together. The bowls go on the top rack, pants are folded, not hung, and saving money is a priority.
But your united philosophy about money will always be incomplete without God. Putting your financial preferences aside to compromise with your spouse will still lead to stress and fights unless you look to Scripture first. God cares about your money and His Word has a lot to say about how you should manage it.
Budgeting should be an essential part of every couple’s financial plan. But if you’re trying to get your spouse to start budgeting, you can’t force them to read this article and use the tried and true line, “I told you so”, if you want to be successful.
Study Scripture together to learn what God has to say about budgeting. Pray for wisdom to know how and when to talk to your spouse about it, and never attack or accuse. Budgeting can bring peace to your finances and your marriage, but that doesn’t mean your spouse will appreciate you shoving it down their throat.
Go to the Lord and ask Him to give you discernment and peace. Then, approach your spouse in humility and love. Don’t catch him or her off guard. Be willing to learn together and always be gracious and humble. Then, make a budget! Talk about your financial goals and take time to be thorough.
Solomon said, “Better is a poor person who walks in his integrity than one who is crooked in speech and is a fool.”
You can read more about how to get on the same page as your spouse and make your united financial plan in Money Problems, Marriage Solutions. My wife and I wrote this book from our own experiences with money and marriage. We hope it’s an encouragement to other couples!
Have you ever made a little decision that resulted in a BIG impact?
I know I have.
In 2015 I decided to drink water only for the entire year. Yes, that’s right…no coffee, tea, juice, soda, smoothies or lattes. Nothing but H2O! For full disclosure, I made it the entire 365 days, and felt so good, I’ve been doing it ever since! My only deviation from water is to occasionally enjoy water with carbonation.
What difference does it make?
For one, it helps my budget! I broke the habit of buying a $5 coffee at the airport and malls or buying an expensive soda drink just because I was thirsty. More importantly, it made me realize just how much sugar I was taking in without even noticing! It also caused me to enjoy water, sleep better, and improved my overall health.
Now let’s apply that same type of thinking to our finances.
What if we could make five little decisions that would make a walloping impact on your financial health? I have compiled a list of those decisions that I believe will help you the most. These are my personal favorites, the ones I would tell my children are essential for them, as well as for me!
Right now, you are honoring someone or something first with your finances. It might be the government, Walmart, your landlord, your utility company or your mortgage lender, but someone is getting the first portion of your income. Replace whoever or whatever is currently first with giving off the top of every source of your income to your church and other ministries that build His Kingdom.
If you cannot give a full 10%, which I think is the appropriate beginning standard, start with what you are able to do cheerfully and don’t turn back. Increase the amount as you are able.
“Trust me on this one!” …Those are not my words. Those are God’s words paraphrased from Malachi 3.
Pick a day and declare, “No more! I will not go another month without saving something from my next paycheck!” Make the decision and then start saving something…even if it is only $5 a month. Save something from every single paycheck or any other source of income.
Open a savings account, buy a small safe, or simply put it under the mattress for now but don’t spend everything you have! This habit will make you wise like the ant from Proverbs 6:6. Little by little you will have money saved for emergencies, stress will go down, and financial stability will one day become a reality. But not until you make that little decision to stop living on a financial cliff.
I have counseled people who did not have money to put gas in their car but had a smart phone, cable TV and a Netflix account they were paying for each month. You can find money to cut out of your budget if you look hard enough.
Lots of folks celebrate when they get a tax refund as if Uncle Sam decided to reward them for their good behavior! While I never like to discover that I owe the IRS money, I don’t like to get a tax refund either. The average person will get about $3,600 refunded this year. But you know what? That means you loaned the US government about $300 a month for a whole year, and then waited for them to send your money back to you and never collected any interest.
Simply adjust your withholding or your quarterly payments to be sure you are paying what you owe or expect to owe, but nothing more. This little decision could mean a lot better cash flow for you. It may also mean you just found the money to start giving and saving some money each month!
Study after study proves that we spend more using plastic.
It may sound like going back to the Depression era for some folks, but the good old fashioned way of cashing your payroll check, dividing the cash for your budget categories and putting the money in an envelope will never gone out of style because of its effectiveness! It works! If you struggle to stay on a budget, give the envelopes a try! You want to know what I have observed as the BIG impact of this little decision? Some of the folks that I know, who are really great with money, have never stopped using their envelope system, years after they no longer needed to. They say that it allows them to spend worry free!
This starts with a change in your beliefs about debt. Think to yourself, ”do I really have to be in debt?”
For far too many, it has become a game of jumping from one debt to another, from one card limit to another.
Make a decision to pay off your most expensive debt. Just get one paid off. Then do it again…and again…and again. You can do it. It is little decision with a major payoff…freedom. Freedom to stop worrying about the future, about your job, about the end of month. Using the snowball debt method will work wonders. Get started with our mini video course, 5 Steps to Debt-Free Living, to help you on your debt elimination journey.
These five are not crazy big mountains to climb, just smart steps that over time will change your relationship with God, your financial well being, your relationships and much more!
Taking control of your finances and living in freedom is a journey. Just like any journey, it’s easier with a guide. Crown’s Money Map is the guide to your journey of finding freedom – it’s a step-by-step plan that lays out financial goals and biblical principles for you to learn along the way. And it’s free! Download yours today.
Have you ever been skiing?
I remember teaching each of my 4 sons how to ski. Just getting them all dressed, bundled up, and in their ski boots was enough of a workout for an entire day, but then we actually had to get on the mountain. I’m not sure they could put their arms down by their side their jackets were so thick, but we figured it would be good padding in case they fell. Which they did.
We’d start easy, down the bunny hills, but they couldn’t figure out how to really control their skis, so whatever direction they started down the hill in, they’d continue in, until they ran out of momentum or into something.
After we had sustained several falls and were on the brink of a meltdown (me, not the boys), I realized an important lesson was to teach them was to turn with their shoulders and hips, not just their feet. The direction their hips and shoulders were pointed would determine the direction their skis would go (emphasizing here, AWAY from the trees and other people).
You may feel the same way my boys did on the ski slopes about your finances – out of control, not sure what direction you’re headed….and maybe about to crash.
But just like your shoulders can direct your skis on the slopes, a savings mindset can direct your financial future.
Yes, it’s important to develop good savings habits and to get into the practice of saving, but your mindset is really what’s going to direct the outcome. If you have a consumer mindset, you’ll prioritize shopping or the latest trends over budgeting, saving, etc.
So how do you develop a savings mindset?
An important element of this process is to make a budget. It won’t restrict your spending, it will just give you the freedom to spend the right way. And if you don’t like budgets, or think they’re too complicated, download Crown’s Easy Guide to a Budget You Love. It’s simple and you can apply it to whatever your current situation is. Even if you’re starting on the bunny slopes, adopting a budget will bring purpose and order to your finances.
What are your savings tips? Share with us!
