Years ago, I struggled to cut back on my sugar intake. I was frustrated with my physical state and knew that I could do better with a little discipline. So, beginning on January 1st, I resolved to eliminate as much sugar as possible from my diet: no desserts, no candy, and no sweeteners in my coffee. Each day, I had to learn to say no to what I wanted (sugar) so that I could get what I needed for tomorrow (better health).
To keep going, I renewed my resolution each morning and kept it up each day for the entire year. This small victory brought great rewards and taught me to exercise self-control in other areas of my life.
Start Small
If you can be disciplined in just one area of your life, you can learn to be disciplined in all areas of your life, but it must start with one. This principle directly relates to your finances. To reach financial goals, you must start with a simple discipline that you faithfully practice one day at a time. This small daily effort over a long period of time will enable you to achieve more than you can imagine when it comes to your financial goals. Stated another way, “little habits have big results.”
Some Financial Disciplines to Consider
Be faithful to the Lord. Set goals that are compatible with Scripture. If you can be faithful in small things, God will entrust you with more.
“Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much. So if you have not been trustworthy in handling worldly wealth, who will trust you with true riches?” (Luke 16:10-11 NIV)
Don’t do it alone. Pray and dedicate your efforts to the Lord and ask Him to guide your steps.
“Commit your work to the Lord, and your plans will be established.” (Proverbs 16:3)
Ask for supernatural help. Ask for self-control daily and for the help of the Holy Spirit to become more disciplined. Self-control is a fruit of abiding in and trusting Him.
“But the fruit of the Spirit is love, joy, peace, patience, kindness, goodness, faithfulness, gentleness, self-control; against such things, there is no law.” (Galatians 5:22-23 ESV)
Financial Goals
The ultimate purpose of a believer’s financial goals should be to glorify God. Goals will take on greater significance if you aim higher than simply keeping yourself afloat. Put your spending plan on paper (or in a spreadsheet or banking app) in order to view the state of your finances more clearly. Determine what you want to achieve in the new year. The “why” of your plans will keep you motivated. Write down your “why.” Good intentions become a plan only when written down and acted upon. Now write down how you will celebrate once you achieve each small step of your goals. Faithful steps will become lifelong habits.
Here is the step-by-step plan I recommend, in order of priority.
- Give first, regularly, and joyfully, a portion of all of your income. Start with your church and make it a priority that you will always honor God with whatever He provides. I believe 10% is a good starting point for giving.
- Save money every pay period. If you do not have an emergency fund, save $1,000 first. This will help you avoid new debt when unexpected expenses arise. Then steadily work toward accumulating 3-6 months of living expenses. Determine your long-term savings goals.
- Reduce debt with a plan. The snowball or avalanche method will help you pay down existing debt. If you have overwhelming credit card debt, get in touch with Crown’s trusted partner, Christian Credit Counselors.
- Retirement goals: Once you are giving regularly, have established an emergency fund, and have paid down debt, you can think long-term. Determine what percentage of income you can save. Take advantage of your company’s 401(k), open a Roth IRA, or open a money market account. You can still save without an employer-sponsored plan.
Give yourself a month to learn new disciplines and establish healthy financial habits. A 30-day reset can help you on your journey. Track your progress and celebrate your victories! In your effort to reach your financial goals, remember to keep an eternal perspective. This is not our home, and our mansions are not to be built on Earth. Remember that God promises you true riches that money cannot buy.
Chuck Bentley is CEO of Crown Financial Ministries, the largest Christian financial ministry in the world, founded by the late Larry Burkett. He is the host of a daily radio broadcast, My MoneyLife, featured on more than 1,000 Christian Music and Talk stations in the U.S., and author of his most recent book, Money Problems, Marriage Solutions. Be sure to follow Crown on Facebook and check out the website at www.crown.org.
The Life of a Single Mom is a national, faith-based, nonprofit that exists to see that no single mom walks alone. To date, the organization has worked with hundreds of churches to start a single mom’s support group in cities throughout the U.S. and beyond, as well as having served hundreds of thousands of single mothers with a variety of programs. Offering a large array of books, curriculum, training materials, online instructional videos, podcasts, newsletters, life skills education, and more, TLSM is one of the largest single mom organizations in the U.S. The robust selection of single mom programs focus on empowering single moms to grow spiritually, emotionally, financially, and parentally through Single Mom University, Single Moms Across America, the National TLSM Single Moms Conference, boot camps, and a variety of other programs. For more information, visit www.thelifeofasinglemom.com.
