How Can I Live Within My Spending Limits?
As human beings at times we may face one financial or economic challenge after another and may ask, how can I live within my spending limits? How can I be financially secure and independent? The different economic challenges we face sometimes forces us to spend outside of what we now earned and able to afford.
In addition to the above, at times we may see things that we know we are not able to afford, but still we went ahead and bought them. The sad part about this is that sometimes what we bought could have easily be avoided as we simple do not need them. It is these unnecessary choices at times that put us in deep financial holes that we sometimes cannot get out of on our own.
[tweetthis]How is your spending habits? Are you making unnecessary purchases that only adds to your debts?[/tweetthis]
Living a financially safe life
I am convinced that the Bible has many practical principles that can help each one us to manage your finances better. The bible is not outdated as some would want us to believe. We will look at just a few of these in this article.
- Your first step towards having a financially safe life is to make a budget each month
In order for you to manage and spend your money effectively, you need to have a goal, what you hope to do each month base on available funds. A budget will give you the opportunity to outline your plan of action each month, what you will have to focus on, how much money you’re planning to spend on each item and how much you plan to spend totally against your spending power. The Bible says, “The plans of the diligent lead to profit as surely as haste leads to poverty.”-Proverbs 21:5). They’re different systems or software’s that can help you to make an accurate budget available online for free.
Additionally, you can ask someone responsible and trustworthy to help you with the planning and execution of your budget. Whatever you do or whichever method(s) you use, the important thing is that you know where your money is going. Most importantly, always put necessities above.
- Do not envy
Envy is defined as the desire to have possessions, or other desirable things that another person has. This desire may cause feelings of discontented or resentful longing for what the other person have. Many of us who suffers long periods of financial hardship may find this very hard to do as sometimes we wish we had what others take for granted. Necessity sometimes can cause us to feel inferior to others and yearn for what they have. However, the bible say, “…. for I have learned, in whatsoever state I am, therewith to be content”- Philippians 4:11). The Word of God also say,
[pullquote]Unnecessary choices at thats that puts us in deep financial holes that we sometimes cannot get out of on our own.[/pullquote]
“ Now godliness with contentment is great gain. For we brought nothing into this world, and it is certain we can carry nothing out. And having food and clothing, with these we shall be content. But those who desire to be rich fall into temptation and a snare, and into many foolish and harmful lusts which drown men in destruction and perdition. For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.” -1 Timothy 6:6-10 (NKJV)
It does not matter what state you’re in now in your life; what is important is that you try to live a contented life while waiting patiently on the Lord to help you accomplish all your dreams. Work for what you want and if you’re not able to have what the other person has, be content with what you can afford. Envy goes uncheck opens the door to bitterness, malice and other sins. Envy can also lead us to buy things that we don’t really need now because we want to fit in with everybody else. Strive to be the person God created you to be, not another person.
- Live a simple life
Many great men of the Bible, including Jesus, lived a simple life; they were not eager for wealth and prosperity as they knew that the love of money can lead to many problems (1 Timothy 6:10). Most importantly, they understood that some of the most important things in life cannot be bought with money and having a personal relationship with God is more important that riches. Jesus therefore advised his followers to keep their eye “simple.” (Matthew 6:22). It is only a very foolish person would ruin their life by going after lobster and fine wine when all they can really afford is fish and water; we should be satisfied with what we can afford. Dissatisfaction is one of the major reasons why many people went into financial ruin, and also lead many to seek after riches which lead them to many sorrows in the first place. The Bible advices us that, “Having sustenance and covering, we shall be content with these things”-1 Timothy 6:8 (NWT).
Riches do not always bring happiness and contentment. Some of the happiest people in the world have little money; nevertheless, they find satisfaction in what they do have; which includes not just material things but the love of family and friends.-Proverbs 15:17.
[pullquote]Riches do not always bring happiness and contentment. Some of the happiest people in the world have little money; nevertheless, they find satisfaction in what they do have; which includes not just material things but the love of family and friends.-Proverbs 15:17.[/pullquote]
- Avoid unnecessary debt
The Bible says that, “The rich is the one that rules over those of little means, and the borrower is servant to the man doing the lending”- Proverbs 22:7. I do understand that there will be times when going into debt may seem unavoidable; and is very practical for us to do so such as if you’re going to start a business, however, those who take on unnecessary debt just to buy something they want and not need will often find themselves in financial troubles.
The use of credit cards is one of the major reason many people find themselves in debts as using money that you don’t have to pay back right away, or have immediately in your hand when you want it, is very tempting to many of us. However, you should remember that credit card money is not free money but is money you will have to pay back, with interest if you’re not careful. If you have to use your credit card to make purchases, make sure that it is something that you need and is unavoidable. Don’t use credit card(s) for purchases that is not necessary.
[pullquote]If you are not very responsible, find someone to help you make your budget & sticking to it[/pullquote]
- Saving for what you want is a very good option
If you want to buy something that you can wait a couple of months for, instead of taking it out on hire purchase or using your credit card or borrowing the money, why not try saving for it? Borrowing, taking things out and hire purchase and use of credit cards should be use very sparingly and only when necessary. If you can wait why not save up and buy it?
Similarly, opening a savings account for unforeseeable circumstances is a very good option. The bible says, “Precious treasure and oil are in a wise man’s dwelling, but a foolish man devours it”-Proverbs 21:20
I hope that these financial help tips will help you to live within your means and start reading the Bible. Everything you need is in the Bible. Do you need help with your marriage, your finances? Help at school (see my blog article How to be successful at school and in life), how to achieve your goals and use your talents, then read your Bible.
[tweetthis]If you are not very responsible, find someone to help you make your budget & sticking to it[/tweetthis]
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