Written by Jim Loscheider (Elder) on August 26, 2022.
Wise Financial Resources is a new ministry being launched at Alliance Bible Fellowship that provides curated resources from various trusted Christian authorities/experts at our church.
My hope is to provide Godly advice and practical insights for financial decisions facing believers. You will find useful tools, information, inspiration, and encouragement. You’re not alone!
I (Jim) am a Christ follower, husband, father, grandfather, Financial Peace University coordinator, Generous Giving facilitator, Financial Wellness Coach, Alliance Bible Fellowship elder, and retired VP of Donor Ministries at Samaritan’s Purse. Here’s a snapshot of what’s to come:
How to deal with the current challenge of inflation that’s adding increased costs to everything while wisely managing God’s money
The three points below are designed to help you exercise self-control in spending, become a better steward of God’s resources, and free funds to use for Kingdom purposes:
1. Examine every purchase in light of its ministry potential.
We must weigh the value of every item we buy against what the same money could have done if used another way—for instance, to feed the hungry or to evangelize the lost. I don’t say this to induce a guilt trip but to indicate the obvious—whenever money is used one way, it prevents it from being used another. None of us should impose our personal standards on others, nor on the standards of God. We should ask God to direct us when it comes to handling His money.
2. Pray before you spend.
When something’s a legitimate need, God will provide. How often do we take matters into our own hands and spend impulsively before asking God to furnish it for us? Often, we either buy what we want or forgo what we want when there’s a third alternative: asking God to provide it for us. If He doesn’t provide it, fine—He knows best.
Setting a waiting period gives God the opportunity to provide what we want, to provide something better, or to show us that we don’t need it and how to use the money differently.
3. Realize that nothing is a good deal if you can’t afford it.
Paying $250,000 for a house that is worth $300,000 sounds like an excellent deal. Paying $80 for a pair of barely used skis that cost $400 new seems like a great deal. But if we can’t afford either of them, it simply doesn’t matter. It’s always a bad choice to spend money on a “good deal” we can’t afford.
Wait, there’s more! Click here for 3 MORE ways to exercise financial self control.
This content is from Randy Alcorn’s book Money, Possessions, and Eternity.