“A feast is made for laughter, and wine maketh merry: but money answereth all things.” (Ecclesiastes 10:19 KJV)
“For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.” (I Timothy 6:10 KJV)
“Beloved, I wish above all things that thou mayest prosper and be in health, even as they soul prospereth.”
(3 John 1:2)
Does this picture describe you?
As a recovering compulsive shopper, a status seeker, and a name dropper, I struggled with desiring to be somebody so I went overboard. There is nothing wrong with having money; the problem occurs when the love of it gets into our hearts and consumes our entire focus and purpose for being on earth. Money is required for daily living. God wants us to prosper as we continue in this life and will increase our wealth as we obey His Word. However, many of us stretched our finances beyond the limits because our “reckless eyeballing” consumed the better part of our lives. We want to keep up with our neighbors, impress others, and make people think that we are living the good life. The results surface behind closed doors. As the saying goes, “you can fool some of the people some of the time but you cannot fool yourself any of the time.” We know the truth about our situations and God will help us if we surrender to His Will.
Now is the time to get your finances under control. Do you like spending money on anything and have the urge to shop? I know because I have been there and do not plan to return.
Let us start by answering some simple questions. Take the quiz below to obtain a snapshot of your spending habits.
1. Do you know where your money goes at the end of the pay period?
2. Do you know how much money you spent this week?
3. Do you like to shop until you drop?
4. Do you get a thrill or high from shopping?
5. Do you purchase expensive items although you know that you cannot afford them?
6. Do you invest in others/share your resources in charitable contributions?
7. Do you know how many credit cards you have (combining those in your wallet and other places)?
8. Do you know how many credit cards are in your wallet?
9. Do you rob Peter to pay Paul?
10. Do you pay your monthly bills such as utilities, insurance, car notes, rent/mortgage, etc. on time?
11. Do you know how much income you have coming in?
12. Do you pay yourself first; set aside a certain amount for a rainy day?
13. Do you eat out often although you cannot afford it?
14. Do you have funds to meet your basic needs such as water, food, clothes, gas for the vehicle, etc.?
15. Do you strive to live like the “Jones” or impress others?
Check your responses. If you answered “yes” to the following questions: 1, 2, 6, 7, 8, 10, 11, 12, 14, you are aware of positive actions to control your spending habits. However, if you answered “yes or no” to the majority of these questions, you may have a behavioral challenge regarding money that needs to be addressed.
Activity: One of the best ways to obtain a better understanding of your spending habits is to write down every time you spend money for two weeks. Please take a small pocket notebook or a sheet of paper with you to record your actions. Be honest with yourself. Once the period is over, review your list. Identify patterns where you spent money. Ex: paying utility bills, eating out, impulse shopping, treating others, putting gas in the car, paying for the cell phone, etc. After carefully examining your list, you may see a pattern. If you are unhappy with what you see, start thinking of ways to cut expenses and/or make changes.